The operations of a brewery present several unique issues for the accountant, especially in regard to beer costs and taproom operations. In this brewery accounting 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.
Learning Objectives
Upon successful completion of this course, participants will be able to:
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.
Major Topics
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
