The Link between Income Statements and Balance Sheets in Wine Accounting

In wine accounting, understanding the relationship between income statements and balance sheets is crucial for evaluating the financial health of wineries. These two financial statements are interconnected and provide valuable insights into a winery’s performance and sustainability. Income statements, also known as profit and loss statements, reveal the revenue, expenses, and net income of a…
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Protea Weekly Podcast – Episode 11 – What does it cost!

Summary In this episode, Zane Stevens discusses the importance of understanding the cost of products in the wine industry. He highlights the complexity of determining product costs, especially in manufacturing. Zane emphasizes the need for accrual basis accounting to accurately track inventory costs. He explains how accounting can be a service that provides information for…
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Wine Inventory Costing Strategies for Business Growth and Sustainability

Welcome to the world of wine, where every sip is an experience worth savoring. Whether you’re a passionate winemaker or a dedicated connoisseur, one thing remains certain: the success and sustainability of your wine business rely on effective inventory costing strategies. Protea Financial wants to explore two key methods to propel your winery toward growth and…
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Exploring the Two Primary Inventory Costing Approaches in the Wine Industry

The wine industry is not just about vineyards and vintages; it’s also a complex business that requires careful financial management to thrive. At the heart of this financial success lies an essential element: inventory costing. At Protea Financial, we want to explore the wine industry’s two primary inventory costing approaches, shedding light on their benefits and…
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Time is Money: Streamlining Your Business Operations with Outsourced Bookkeeping

Are you tired of spending endless hours crunching numbers, organizing receipts, and struggling to keep up with your business’s financial records? Here at Protea Financial, we understand that running a successful business requires your undivided attention, and the last thing you want is to get bogged down by tedious bookkeeping tasks. Let’s explore the benefits…
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