If you are a brewery owner and would like to increase your knowledge in a specific area, be sure to check out the upcoming courses by Mary Brettmann, owner of Beverage Business Builders. Mary will be teaching virtually for the University of Vermont Continuing and Distance Education, UVM Craft Beer School, on October 7, 2020. This first course is entitled: Managing Brewery Finances: Creating and Running an Accounting System and is 100% online.Learn More
Course Description
Before you dive into cost of goods sold (COGS), cost accounting, or margins, you need to know how to get good data—to know you can trust the numbers coming out of your accounting system.
You will start by exploring a few key accounting concepts and identifying administrative resources to help you “be everything to everybody.” Then you will create your accounting structure by determining the businesses within your brewery and how best to track them in the system. A chart of accounts (COA) can give you a lot of information, and you will create a customized COA that will enable you to easily see your brewery’s gross margin.
Next, you will identify effective “period close,” or discrete spans of time, and establish a financial statement review. You will learn how to reconcile bank statements and create journal entries for accruals and pre-pays. Finally, you will explore how a budget becomes a forecast and how to use a 360-degree forecast to understand each component of your brewery.
Once all of these steps are in place, you will be able to generate accurate, actionable data that will drive brewery decisions. You will also be able to translate that data into an understandable format for management and other key stakeholders.
Course Objectives
By the end of this course, students will be able to:
- Identify administrative resources
- Describe key administrative concepts (taxation, insurance, HR, accounting, sales tax, excise tax, etc.)
- Determine the businesses within your brewery and how best to track them in an accounting system
- Create a customized chart of accounts (COA)
- Reconcile bank statements and create journal entries for accruals and pre-pays
- Complete a financial statement review of your books
- Articulate how a budget becomes a forecast
- Describe levels of forecasting and types of forecasts and how all forecasts work together
- Conduct a 360-degree view forecast to understand each component of the brewery
- Generate accurate financial data to inform brewery decisions and translate the data for key stakeholders
Registration and More Information
Managing Brewery Finances: Creating and Running an Accounting System, October 7
REGISTER NOW
REGISTER NOW
Additionally, Mary will be teaching the following courses in the Spring of 2021:
Managing Brewery Finances: Cash, Income, and Margins
May 19, 2021
Managing Brewery Finances: Costing
April 7, 2021
on Tue, 2020-08-25 09:43 Mary
