Conducting a Winery Financial & Operational Analysis
May 20 | 10:00 AM - 11:30 AM
Record keeping can be cumbersome and overwhelming, but it is necessary for compliance and tax purposes. What else can your sales, inventory, and other records tell you about the health and potential success of your winery? Yes, most bookkeeping revolves around a Chart of Accounts and other ‘presentation’ data designed to make tax returns easy to process. And while this is a great goal, that singular focus can sometimes obscure more practical data points that might help us determine if our winery business is profitable and WHY.
Join Gregg McConnell of Farm Credit East as he lead us through the right questions to ask when reviewing our records, and how to manage the data so that it helps build for success – without sacrificing compliance requirements.
Topics will include:
- Profit analysis and cash flow analysis
- Cost to produce wine
- Gross profit
- Business Planning
This enhanced webinar is free for Tier 2 & 3 Winery & Grower Members. Tier 1 members and non-member wineries and growers in New York state may join for a fee.