To help you understand different types of accounting; communicate better with your accountant/bookkeeper/banker; estimate product cost; and make better decisions
April 10, 2019; 8:30AM-4:00PM
Lost Oak Winery, Burleson, TX (8101 County Rd. 802)
$200 per person (light breakfast and lunch included)
8:30- 8:55 AM
Registration/Sign-in (coffee and pastries provided)
9:00- 9:15 AM
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
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
12:30- 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
2:45- 3:45 PM
Tracing or Assigning Costs to Products (continued)
3:45- 4:00 PM
Additional Questions and Answers