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Part of the WISE Leadership Series, this is a one day crash course that demystifies finance and accounting for non-accountants. The financial fluency taught in this course is foundational to all WISE Level II coursework. This course is designed to take the mystery out of winery accounting and make sense of the three main financial statements. Attendees will work with a sample company as they learn to become comfortable with the language of business. In addition to understanding the three bottom lines, attendees will also learn how to evaluate options, work with key ratios, and spot red flags in financial statements. Attendees will leave this class with a new appreciation for the financial challenges of owning a winery, their role in supporting overall financial results, and the importance of asking questions.
Topics covered include:
- Accrual versus cash
- The matching principle and how it impacts the bottom line
- The three bottom lines
- Costing methods
- Book versus tax accounting
- Key metrics and measures
- How to find out where the money went in your winery
Instructor: Geni Whitehouse, Lesley Berglund
Total Hours: 8
Curriculum is empty
Who Should Take This Course?
This course is designed for non-financial people who want to understand business financial reports or budgets. It is ideal for anyone who is managing or controlling costs or who is accountable for financial or team results.