Accounting for Commercial Fishing ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
Commercial fishing operations have a number of unique characteristics, such as large investments in vessels and fishing permits, as well as profit sharing payouts in the form of crew shares. In the Accounting for Commercial Fishing course, we cover the accounts to be used, crew shares, the capital construction fund, the basis of accounting, fixed asset accounting, the financial statements, government reporting, and much more - the essential knowledge needed to account for a commercial fishing operation.
Highlights
The nature of commercial fishing operations. Record keeping. Payroll issues. Capital construction fund. Cash basis vs. Accrual basis accounting. The break-even point. Government reports. Form 1099-MISC. Form 8300.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other accounting professionals.
Objectives
Recognize how the economic entity concept can be violated by a commercial fishing operator. Specify the advantages and disadvantages of single-entry and double-entry systems. Identify the underlying concepts associated with the accounting for fixed assets. Recognize the different types of accounts that may be used in a commercial fishing operation’s chart of accounts. Identify the forms that a commercial fishing operation may need to file with the IRS.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00