Questions Brewery Owners Should Ask Their CPAs: Part 1

Do you own a brewery and have a question that you think may be outside of your CPA’s scope of knowledge? Do yourself a favor and just ask. From research and development (R&D) to trademarking advice, your CPA can provide insights into some tricky financial scenarios and help your business improve cash flow while finding savings.

Over the course of two posts, I will break down nine questions brewery owners should be asking their CPAs. Read on for the first five:

Why does inventory matter when I compute my beer ingredient costs, or Cost of Goods Sold (COGS)? What comprises COGS?There are a variety of reasons inventory matters when computing beer costs, particularly for your financial reporting. If your inventory is incorrect, it can affect the accuracy of your costs. For example, if you count inventory once per month, your monthly purchases or products used may not be factored in, misrepresenting actual inventory levels and, therefore, cost of sales. At the end of the month, brewers…