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

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Overview

2.0 Credits
ONLINE

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.

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 Topics

  • 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

Designed For

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

Prerequisite

None

Advanced Preparation

None