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Secure Transaction Accounting for Vineyards and Wineries
Format
Self-Study
Course Level
Overview
CPE Credits
2 Credits: Accounting
Course Description
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.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- 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.
Course Specifics
SS124371742
February 12, 2024
There are no prerequisites.
None
59
Compliance Information
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 …
QAS Self-Study
