Accounting for Vineyards and Wineries ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
The operations of a vineyard or winery present unique issues for the accountant that require alterations to its chart of accounts, costing system, and many of its procedures. This course pays particular attention to the unique aspects of the industry that are not encountered elsewhere, such as the capitalization of vineyard costs, depletion allowances, and the allocation of costs to cased goods. In short, this course is an essential desk reference for anyone engaged in the accounting for a vineyard or winery.
Highlights
Regulatory structure. The chart of accounts. Vineyard equipment and costs. Winery equipment and costs. Depreciation. The depreciation of land. Profitability issues. Winery financial analysis.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other financial managers.
Objectives
Recognize the circumstances under which a vineyard can use the cash basis of accounting. Identify the asset, liability, equity, revenue, and expense accounts that would be used by a vineyard or winery. Specify the steps followed in the winemaking process. Recognize the useful lives that may be assigned to fixed assets. Specify the rules related to the capitalization of interest costs. Recognize the process used to allocate costs to wine. Differentiate between direct costs, period costs, and allocable costs. Identify the information sources used to derive the gallon/months calculation.
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