This course introduces the concepts of bookkeeping and accounting as specifically applied to vineyard and winery industry needs. This course will help bookkeeping and accounting staff understand the unique accounting needs facing the wine industry and provide step-by-step approaches to solving the daily challenges faced in the wine and vineyard industry.
The purpose of this course is to:
- Familiarize participants with the goals and objectives of winery accounting functions
- Understand the needs of various users (i.e., owners, managers, winemakers, banks, IRS, BOE, etc) of financial information provided by accounting personnel
- Introduce the different methods of accounting and how to record and report financial information
- Learn how to approach inventory costing and track cost associated with volume (tons, gallons, cases) and blending cost for bottling
- Approach the general ledger from a profit center and cost pool perspective
- Familiarize participants with monthly closing and year-end closing needs
The course will cover:
- Goal of the accounting function in a winery
- Methods of accounting (Cash vs accrual, book vs tax; Economic reality; LIFO, FIFO, Average Cost)
- Inventory Costing (Tracking volume and cost together; Cost per ton, gallon, and case; Margins)
- The Vineyard & Winery’s General Ledger (Structuring the chart of accounts; Capturing costs on the Balance Sheet and Profit & Loss; Allocations and groupings)
- Fixed Assets
- Closing the Books (Monthly & year-end closing procedures; Critical & helpful reports)
- California Sales & Use Tax
Materials provided with this course:
- Copy of PowerPoint slides from the class
- Sample Inventory Costing Spreadsheets
- Sample Chart of Accounts structure
- 50+ page booklet exploring topics covered
100 Cross Street, Suite 103, San Luis Obispo, CA 93401
1244 Pine Street, Suite 213, Paso Robles, CA 93446
Tuesday, January 14, 2014
8:30 A.M. – 12:00 P.M.
212 Alexa Ct.
Paso Robles, CA 93446
$50 before December 31, 2013
$60 after December 31, 2013
$25 for existing clients
*Payment must be received prior to event. Cancellations received at least 72 hours prior to the event will receive a full refund.
Chris Raymer, CPA
Chris Raymer is a tax manager with Longcrier & Associates, CPAs and has been doing winery cost accounting and inventory training for many years. From one-on-one to group training, he has helped many wineries improve their accounting functions and inventory costing.