Accounting for Commercial Fishing

Master the specialized accounting requirements of commercial fishing operations. This course explains how to structure the chart of accounts, record crew shares, and manage large investments in vessels and fishing permits. You will address the capital construction fund, select the appropriate basis of accounting, handle fixed assets, prepare financial statements, and meet government reporting requirements. Apply industry-specific guidance to manage risk, improve reporting accuracy, and support the financial success of a commercial fishing enterprise.
Format

PDF Course

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Duration

1 Hour

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Course Information

Author: Steven Bragg
Course Number: AC1138

Learning Objectives
  • Recognize how the economic entity concept can be violated by a commercial fishing operator.
  • Specify the advantages and disadvantages of single-entry and double-entry systems.
  • Identify the underlying concepts associated with the accounting for fixed assets.
  • Recognize the different types of accounts that may be used in a commercial fishing operation’s chart of accounts.
  • Identify the forms that a commercial fishing operation may need to file with the IRS.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: April 2026
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.