As the green rush continues, a sobering reality is setting in: for every Cannabis company that blooms, another wilts. The problem? Despite the industry's explosive growth, many businesses are operating on shaky financial ground. They're navigating this complex landscape without a map, relying on gut instinct rather than solid financial planning. It's a recipe for disaster, and we're seeing the consequences play out in real time with shuttered storefronts and failed ventures.

But here's...

As a CPA who's been knee-deep in Cannabis accounting for years, I've had a front-row seat to the industry's explosive growth. It's been a wild ride, watching this sector bloom into a multi-billion dollar market. But here's the kicker – we're just getting started. The potential for profit in this green rush is enormous, but so are the challenges.

In this guide, I'm going to share the insider knowledge I've gained from working with countless Cannabis dispensaries. We'll explore how...

The Cannabis industry is on the cusp of a monumental shift that's about to rock the accounting and tax world. As a CPA with nearly a decade of experience in this niche, I've watched this industry explode from the ground up. We've gone from zero to a $33 billion legal market in 2023, with support for legalization at an all-time high. But hold onto your calculators, folks – what's coming next is going to make the past few years look like a warm-up lap.

In April 2024, the DEA dropped a...

Over the past decade since Colorado first legalized recreational Cannabis in 2012, the Cannabis industry has grown massively despite conflicting state and federal laws. The legal market hit $33 billion in 2023, while polls show 70% of Americans now support full federal legalization.

While various sectors of the US economy have been turbulent over the last couple of years, the industry still experienced some growth in 2022-2023. Industry analysts and advocates remain optimistic about the...

This is a copy of the original letter of recommendation written by the AICPA & CIMA Cannabis Industry Conference Producer. DOPE CFO has been a proud contributor to the annual conference since the very first one, and hopes to continue into the future. Her contact information and name have been removed as a privacy measure.

To Whom It May Concern,

I am writing to enthusiastically recommend Andrew Hunzicker based on his outstanding contributions to the AICPA & CIMA Cannabis...

Becoming a Successful Cannabis CFO in Just 6 Months

You’re dreading the start of the week: the soul-crushing commute to the office, the long working hours that resemble more like a 5-9 than a 9-5, and the monotonous day to day grinding, crunching numbers for the same thankless clients — does this daily routine resonate a little too much with you? Have you ever envisioned breaking free from the rigid corporate cycle and embarking on a more prosperous, fulfilling path but...

The key to success at dealing with common software issues that occur in Cannabis accounting is keeping a cool head and positive attitude. It’s easy to get overwhelmed tackling the many challenges that pop up. Furthermore, the CEOs and managers of the businesses you support can (and will) call or email you while they’re upset about the latest hurdle they need to scale. They’ll expect you to have the magic formula that gets all of their systems working. The best thing you can...

Whether you’re a Cannabis CBD/Hemp CEO or an accounting professional supporting licensed businesses in this space, knowing what is required with regards to compliantly managing inventory, as well as understanding the necessary processes and controls is valuable knowledge that can serve you well.    

It’s complicated for licensees who need to comply with how their particular state tells them inventory must be reported yet need some relief from the punishing...

Valuations play a key role in an array of Cannabis industry business concerns. Nevertheless, there’s a lack of good information for accounting professionals supporting the licensed Cannabis space. When you understand what valuation is—and the different kinds of valuation—you can help clients make choices that align with their needs. 

What is Business Valuation?

In a nutshell, business valuation is the process and procedures of determining the value of an owner’s...

Don’t know how much you should charge for providing Cannabis accounting services to pre-revenue businesses? You’re not alone! In this blog post, we uncover two main ways to consider setting your price. The first is by accurately framing the value you provide and asking a number of smart questions. The second is by reviewing a number of areas within the company’s pitch deck. Investing some time and energy into this process in the ways we suggest below will enable you to price...