Brewery Finance and Accounting
Offered: Spring and Fall
The Brewery Finance and Accounting course will provide participants with a strong financial foundation and understanding of craft beverage accounting concepts for those seeking management positions at their current brewing operation, or for those seeking to open their own brewery or cidery in the future. This class will introduce the necessary tools to create business plans and pro forma financial statements for those seeking to launch their own operation. It will progress into cost accounting concepts as they apply throughout the production process and conclude with a thorough overview of brewery financial accounting statements and reporting, including the balance sheet, income statement, and cash flows. Participants will walk away with the necessary financial knowledge and templates to improve existing operations, or to create a business plan for a new craft beverage entity.
By the end of the course, participants will be able to:
- Identify common financial issues and outline possible alternative courses of action.
- Understand the components and basic structure of the pro forma financial statements.
- Create a range of financial documents including: sources and uses statement, balance sheets, income statements, and statements of cash flow.
- Utilize breakeven range/analysis and basic financial ratios.
- Identify which combination of sources of financing best fit the brewery’s particular needs.
- Examine cost accounting and assess direct vs. indirect costs, fixed vs. variable costs, and overhead.
- Calculate the cost by batch of beer, track variances, and improve the gross margin.
- Establish divisional accounting for accountability.
- Improve existing brewery operations, or create a business plan for a new craft beverage entity.
Week 1: Top financial Mistakes/ The Importance of Finance in Craft Beer
Week 2: Business Plan
Week 3: Accounting Basics for Craft Breweries
Week 4: Financial Accounting I
Week 5: Financial Accounting II
Week 6: Cost Accounting Models I
Week 7: Cost Accounting Models II
Week 8: Financial Analysis
Owner of Brewed For Her Ledger, LLC, an Asheville NC-based management consultancy firm focused on providing guidance to the craft brewing and cider communities. Over 110 breweries and brewpubs have been clients. Previously CFO of Mother Earth Brewing in Kinston, NC and Controller of Dogfish Head Craft Brewery in Milton, DE.
A graduate from the prestigious Kenan-Flagler OneMBA program at the University of North Carolina at Chapel Hill (2008), Audra possesses over a decade and a half of experience in senior leadership roles in craft brewing, manufacturing, services, non-profits and startups. She earned her undergraduate degree in accounting and business management from Loras College (Dubuque, IA) in 1997.
Audra is a frequent speaker at craft beer and craft beverage conferences. She also teaches multiple courses as an Adjunct Instructor through South College’s (Knoxville, TN) Professional Brewing Science program and Asheville-Buncombe Technical Community College’s Craft Beverage Institute of the Southeast
Maria Pearman, CPA
Maria founded Radix Accounting in 2012 after spending five years at a large local CPA firm. Radix was created to provide accounting expertise and a deep operational knowledge to two specific industries that she enjoys – craft beer and creative services. Maria was the Portland Lead Instructor for Becker CPA review courses for five years, and taught Finance and Accounting for the Craft Brewer in Portland State University’s Business of Craft Brewing program. She also has held committee chair positions with the Oregon Society of CPAs and was selected by the American Society of CPAs to participate in their Leadership Academy as one of thirty-four young industry leaders in 2015. Outside of work Maria loves to travel and explore the far-flung corners of the globe.
Previous Industry Guest Speakers
Mark Boelman, Director of Finance and Administration, Left Hand Brewing (CO)
Brook Bristow, Owner/Founder, Bristow Beverage Law (SC)
Warren Dibble, CFO, Harpoon Brewery (VT)
Kyle Fitzgerald, CPA, Braxton Brewing Company (KY)
Kelly Fitzpatrick, CFO, Oscar Blues Brewery (CO)
Dave Foong, CFO, Saint Arnold Brewing Companny (TX)
Taylor Harper, Associate at Taylor, Feil, Harper, Lumsden & Hess, P.C. (GA)
Chris Herron, CEO, Creature Comforts Brewing Company (GA)
Dan Herron, Controller, Creature Comforts Brewing Company (GA)
Chris Hodge, Director of Sales Brewing, Oregon Fruit Products (OR)
Devin Kelly, Co-Owner, Managing Partner, Isle Brewers Guild (RI)
Val Lang, Head of Finance of Singlecut Beersmiths (Astoria, NY)
Emily Masi, Accounting Manager at Avery Brewing (CO)
McCayne Miller, CFO, Ekos (NC)
Matt Pope, Controller, Russian River Brewing Company (CA)
Michael Potorti, Founder and Brewer, Beara Brewing Co. (NH)
Will Van Weelden, CFO, MKE Brewing (WI)
Carol Waggener, Founder, Bold Missy Brewery (NC)
Anthony Whalen, Senior Accountant, Oskar Blues (CO)
Charles Willett, Controller, NoDa Brewing Company (NC)