Bar and Restaurant Financial Statement Presentation Including Measurement and Disclosure Issues  

This course introduces financial statement presentations specific to restaurants and bars. Chapter 1 presents bases of accounting available for financial statement presentation. Chapter 2 introduces some of the more important financial statement formats and preparation considerations for restaurants. Chapter 3 discusses note disclosures in income tax basis financial statements of restaurants and some specialized accounting topics, including accounting for loans received under the Paycheck Protection Program and closures due to the COVID-19 pandemic. Finally, chapter 4 discusses the topic of underreporting sales.

This course is most beneficial to professionals new to preparing financial statements who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to preparing financial statements for restaurants and bars.