Guide to the Business of Booze: Accounting for Restaurants & Bars (2 hours)

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Jul 28, 2020

Registration: 9:30 AM / Program: 10:00 AM - 12:00 PM Pacific Time

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

Since Prohibition, the alcohol industry has operated according to a complex and heavily regulated system. The industry is now changing dramatically as the traditional "three tiers" clash with an Internet world and electronic sales. For CPAs handling the accounting for restaurant and bar clients, it is critical to understand the effect of these changes today as well as their implications for the future.

Designed For

CPAs who advise clients that sell alcohol, especially bars and restaurants

Objectives

  • Understand the traditional three-tier system for selling alcohol
  • Identify the role of the federal, state, and local regulators
  • Recognize how Internet sales and big box stores are changing the financials of the industry
  • Understand how the craft beer revolution is changing the financials of the industry
  • Understand the financials behind a restaurant and bar

Major Subjects

  • Overview of the business of alcohol
  • Overview of the three-tier system
  • Role of the federal government (TTB, FDA, ATF)
  • Role of state and local regulators
  • Special issues for bars and restaurants, including Dram Shop Liability
  • Craft beer revolution
  • Out-of-state shipping; transshipping
  • Umbrella licenses / license compliance companies

This event has already passed. If you have any questions, please contact us at 503-641-7200 or email profdev@orcpa.org.