Accounting for Clubs

3 Credits: Accounting


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Accounting for Clubs

Course Level
CPE Credits

3 Credits: Accounting

Course Description

Clubs are usually organized on a nonprofit basis, but must still maintain tight cost controls to give their members good value. In the Accounting for Clubs course, we cover all aspects of the accounting systems and controls needed to maximize member services at a reasonable cost. Course materials include the accounting for inventory, fixed assets, leases, club expenses, and payroll, as well as a discussion of how to close the books and produce performance metrics.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Cite the accounts that can be included in the chart of accounts for a club.
  • Specify the structure and content of the financial statements for a club.
  • Specify how the par level is used in inventory monitoring.
  • State the main characteristics of a system of fixed asset depreciation.
  • Identify the accounting for a leasehold improvement.
  • Identify the accounting for a lease by the lessee.
  • Specify which club expenses are classified as expendable items.
  • Specify the accounting for mandatory gratuity charges.
  • Identify the accounting for a club’s web site.
  • Specify the accounting for a payroll, including the treatment of tips.
  • Specify the metrics used by clubs, as well as the factors that can impact them.
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Course Specifics

Course ID
Revision Date
May 24, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …