Accounting for Vineyards and Wineries
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. Accounting for Vineyards and Wineries 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.
Format
PDF Course
Level
Overview
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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