Winery & Vineyard Accounting 101 Workshop

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What

To help you understand different types of accounting; communicate better with your accountant/bookkeeper/banker; estimate product cost; and make better decisions

Where & When

April 10, 2019; 8:30AM-4:00PM
Lost Oak Winery, Burleson, TX (8101 County Rd. 802)

Price

‍$200 per person (light breakfast and lunch included)   

Program

8:30- 8:55 AM

Registration/Sign-in (coffee and pastries provided)

9:00- 9:15 AM

Introductions

9:20- 9:50 AM

Differences Between Tax and Financial Accounting
•    Why do these two accounting systems provide two different income amounts?
•     Which system provides better information for decision-making?
         Dr. Linda Campbell, CPA, Associate Professor of Accounting

9:50-10:00 AM

Break

10:00-12:00 PM

The Basic Financial Statements and the Information They Provide
•    What are assets, liabilities, and equity?
•    What are revenues, expenses, and net income?
•    What are operating, investing, and financing activities on the cash flow statement?
       Dr. Cecily Raiborn, CPA, CMA, CFE, McCoy Endowed Chair in Accounting

12:00-12:30 PM

Lunch (provided)

12:30- 1:00 PM

Some Important Tax Issues to Consider

1:00- 2:30 PM

Tracing or Assigning Costs to Products
•    What are variable and fixed costs?
•    What are product and period costs?
•    How can costs be assigned to products (bottles of wine or grapes)?
•    Why should costs be assigned to products?
       Dr. Janet Butler, CGMA, CITP, Professor of Accounting

2:30- 2:45 PM

Break

2:45- 3:45 PM

Tracing or Assigning Costs to Products (continued)

3:45- 4:00 PM

Additional Questions and Answers

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