The Brewery Financial Training Program

Chart of Accounts

• • Common brewery account structures
  • Best practices to report on taproom, self-distribution, wholesale operations
  • Template to build your own chart of accounts

General Ledger

• • Practical uses to identify cost-saving opportunities
  • Quick steps to read and understand the information

Brewery Financial Reports

• • Definitions, descriptions, and examples of financial statements
  • Income statement
  • Balance sheet
  • Statement of cash flows

Month-End Financial Process/Procedure

• • Checklist of best practices to follow
  • Steps to ensure complete and accurate financial reporting
  • Tools to train your team

Income Statement, Balance Sheet, Statement of Cash Flows

• • Quick process to read, understand and take action on the information
  • Best practices to set up the financial reports – what to include / exclude
  • Templates and examples for each brewery financial statement

Key Financial Metrics and Ratios

• • How to identify key metrics – the most important numbers
  • How to calculate ratios and use benchmarks to compare results
  • Scorecard Models to measure, monitor and improve key metrics

The World Famous One-Page Financial Statement

• • All the financial numbers you need to see on one page
  • Summary information with comparisons to budget, actual results, and key metrics
  • How to build it – template to follow
  • How to read it – critical numbers to review

Keg Inventory

• • Process to count and reconcile to test accuracy
  • Best practices to track and monitor keg assets
  • Tools to use to make the process more efficient and effective

Product Inventory

• • Standard operating procedures with best practices for consistent and accurate inventory counts
  • Review of Cycle Counts, Full Physical Inventory, Pros and Cons of each method

Accounts Receivable Collection

• • How to read and review the Accounts Receivable aging report
  • Tactics to quickly identify potential collection issues
  • Best practices to speed up collection and improve cash flows

Product Margin variances

• • How to use trend analysis to identify problems with product margins
  • Common problems that cause margin variances and how to fix them

Beer Costing Fundamentals

• • Periodic and perpetual inventory simplified
  • Standard cost and weighted average cost
  • Variance analysis of beer costs

Bill of Materials

• • Review of costs that are included (and excluded) in cost of your beer
  • Direct material (DM)
  • Direct labor (DL)
  • Overhead (OH)

Kegs, Cans and Beer Loss

• • Review three major beer costs and how to reduce
  • Kegs: Option to lease or buy
  • Cans: Cost variances in printed, sleeved, labeled
  • Beer Loss: Cost examples and impact on margins

Beer Pricing and Portfolio Margins

• • How to price your beer to wholesalers, retailers, and customers
  • Margin analysis and requirements for each stakeholder in the 3-tier system
  • Beer Pricing Model for analysis and decision-making

Financial Planning Best Practices

• • Plan outline: Timelines, to-dos, and deadlines
  • Key questions and considerations
  • Financial planning pitfalls to avoid

How to Build the Brewery Financial Plan with Models and Examples

• • Sales forecast and gross margin plan
  • Operating expense plan
  • Capital expense plan
  • Loan schedules and debt plan

Tactics to train department managers

• • Proven training methods to enable managers to take financial responsibility for their department
  • Reporting tools for review and analysis to ensure cost center budgets are properly monitored

Cash Flow Management Best Practices

• • Techniques to keep cash management front and center
  • Daily/weekly practices and cash flow routines
  • Strategies to create a financing plan

Drivers of Brewery Cash Flow

• • Inventory
  • Accounts receivable
  • Accounts payable
  • Capital expenditures
  • Debt payments

Scorecards to Track and Measure Key Cash Flow Metrics

• • Inventory days on hand (DOH)
  • Days sales outstanding (DSO)
  • Average days to pay
  • Return on investment (ROI)
  • Debt service coverage ratio (DSCR)

3-Step System to Improve Brewery Cash Flow

• • How to identify where and when cash leaves the business
  • Techniques to insert yourself into the cash flow process
  • Tools to review past spending and make adjustments

• • Brewery Financial Training Final Exam
  • Recap of lessons learned, action items, and next steps

Programs are designed for brewery and distillery staff.  The Finance Academy for Craft Beverages serves finance staff in breweries and distilleries, CPAs, bookkeepers and accountants.

See each program for information on audiences served.

The Finance Academy for Craft Beverages is delivered 100% online.

At the successful completion of this program, you will receive a Certificate of Completion.

Each module has specific approaches to participant assessment. Unlike traditional college courses, participation in the Finance Academy for Craft Beverages requires motivated individuals who seek new knowledge and who value peer learning. Participants will get out of their studies what they put into it.