Accounting for Breweries ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
The operations of a brewery present several unique issues for the accountant, especially in regard to beer costs and taproom operations. In this course, we delve into how to create a brewery-specific chart of accounts, derive the cost of beer, issue profitability reports and financial statements, and account for numerous brewery-specific issues, while also touching upon a number of budgeting, reporting, and profitability enhancement topics.
Highlights
Brewing essentials. The accrual basis of accounting. The cash basis of accounting. The chart of accounts. Taproom and merchandise profitability reporting. The cost of goods sold. Inventory. Brewery fixed assets. Budgetary needs. The cost of beer. Brewery metrics.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other accounting professionals.
Objectives
Recognize the steps employed in the production of beer. Identify the classifications of the various accounts in a brewery chart of accounts. Specify the accounting issues associated with each area of a brewery operation. Recognize the various cost assignment systems used within a brewery. Recognize the accounting policies that may be used within a brewery, and how they can impact reported results. Recognize the characteristics of the periodic and perpetual inventory systems. Differentiate between costs that should be charged to expense and those that can be capitalized. Identify the proper classification of taxes that may be applied to a brewery. Recognize the considerations to be concerned about when making investment decisions for a brewery. Differentiate between the uses to which the various brewery metrics can be put.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00