Accounting for Vineyards and Wineries
Address the specialized accounting challenges unique to vineyards and wineries. This course explains how to modify the chart of accounts, costing systems, and procedures to reflect industry realities. Learn to capitalize vineyard development costs, calculate depletion allowances, and allocate production costs to cased goods accurately. Apply targeted, industry-specific guidance to improve financial reporting and maintain precise cost tracking throughout the winemaking cycle.
Format
PDF Course
Course Lists
Duration
2 Hours
Course Information
Author: Steven Bragg
Course Number: AC1122
Learning Objectives
- Recognize the circumstances under which a vineyard could 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.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: July 2024
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.
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