A Bookkeepers Guide to Cannabis Accounting

Cannabis companies are highly regulated highly complex organizations. These businesses need not only a higher level accountant and a tax professional, but they also need a bookkeeper to manage all of the day-to-day financial transactions that come with operating a cash-based business.

This webinar is not just for bookkeepers, as it is important for anyone that is on the financial team for a cannabis company to understand the roles and to be clear on everyone’s responsibilities. It is essential that Cannabis businesses have a team of financial experts including bookkeepers, tax preparers, and high-level accountants all working together to ensure all of their financial transactions are captured, recorded and reported properly. Otherwise, cannabis companies can be subject to fines and penalties, which include inaccurate record keeping. (see: Altermeds Case)

In this informative webinar, we provide a high-level overview of some of the most important tasks that a bookkeeper should be...

Continue Reading...

Everything You Wanted to Know About Cannabis Accounting but were Afraid to Ask

Because Cannabis production involves four verticals: farming, chemical manufacturing, food production, and retails the accounting for business owners can become very complex without an experienced accountant knowledgeable in this unique industry - who is not only up to date on the day-to-day bookkeeping needs but also keeps up with the local, state and federal financial regulations which can often appear to contradict or at least confound each other.

The most recent issue of CPAFocus published by Oklahoma Society of CPAs, featured Dope CFO’s Andrew Hunzicker and asked him some of the most common questions asked by accountants entering the Cannabis Industry.

If you want to learn what it takes to be an expert in cannabis accounting, feel free to reach out! We’re happy to help.

Read More HERE

Continue Reading...

How to Hire and Train an Accountant for your Cannabis Company | Marijuana Business Magazine

accounting business press Sep 01, 2018

Finding a financial expert with the experience and expertise of the Cannabis Industry is one of the most important decisions you will make for your business.  Marijuana Business Magazine, asks Dope CFO's Naomi Granger, with over 12 years in the accounting field, her advice for finding the right financial expert.

“Cost accounting is the biggest piece. You’ll be paying a lot in taxes if that’s not done right.” Dope CFO's Naomi Granger

If you want to learn what it takes to be an expert in cannabis accounting, feel free to reach out! We’re happy to help.

Read More HERE

Continue Reading...

There’s Too Much Marijuana in Oregon

business oregon politics Aug 31, 2018

Marijuana prices are reaching historic-lows in Oregon.

The average price of a gram of marijuana has dropped 50%  in Oregon, going from $14 in 2015 to only $7 in 2017-2018.  Oregon’s U.S. Attorney Billy Williams voiced his frustration over the matter in a recent statement he released.

“In my view, and frankly in the view of those in the industry that I’ve heard from, it’s a failing of the state for not stepping back and taking a look at where this industry is at following legalization,” said Williams in an interview with the AP.

“What is often lost in this discussion is the link between marijuana and serious, interstate criminal activity,” Williams added. “Overproduction is rampant and the illegal transport of product out of state — a violation of both state and federal law — continues unchecked. My ask continues to be for transparency, responsible regulation, adequate funding, and a willingness to work together....

Continue Reading...

3 Financial Mistakes Your Cannabis Business Can't Afford to Make

The industry is largely void of qualified financial professionals such as CPAs and bookkeepers, who can help Cannabis companies adhere to stringent regulations while mitigating the high risk of fines and penalties. In this article from Green Entrepreneur, Andrew Hunzicker mentions a few of the common financial mistakes cannabis businesses really can’t afford to make.

If your business or your clients are making these mistakes in their business and need help, feel free to reach out! We’re happy to help.

Read More HERE

Continue Reading...

Know a Good Accountant? Cannabis Companies Are Looking

As the cannabis space matures, it's becoming increasingly populated with service providers from a diverse range of ancillary industries. Among them, accountants and bookkeepers have become some of the most sought-after specialists in the field. Running a cannabis business are entirely distinct from any other sector, and most cannabis CEOs lack the skill set to circumvent the countless risks involved. For this reason, a majority of cannabis companies require guidance from experienced and knowledgeable professionals to implement standard operating procedures and bring their books up to par.

For the most part, larger accounting firms are avoiding the space altogether -- ultimately leading to a growing demand for those willing to become involved with cannabis businesses. With a striking gap in the space for qualified professionals equipped to support business owners in maneuvering the risky regulatory landscape, accountants and bookkeepers are finding major opportunities to open up shop...

Continue Reading...

The CPA's Guide to Getting Started in Cannabis Accounting | AccountingToday.com

With most big accounting firms still avoiding the cannabis industry, small accounting firms are undoubtedly in the right place at the right time.

Equipped with a specialized skill set and sophisticated financial knowledge, CPA’s and other accounting professionals have the opportunity to enter a burgeoning market—projected to reach an economic impact of $70 billion in the U.S. by 2021.

In this article, Andrew shares a few key steps that you can take right away to get your foot in the door.

Read More HERE

Continue Reading...

Cannabis: Growth Opportunities High for Accountants | Bloomberg

 

To view it on Bloomberg.com, click HERE

 

Disclaimer: 'Reproduced with permission. Published June 28, 2018. Copyright 2018 by

The Bureau of National Affairs, Inc. (800-372-1033) 

Continue Reading...

DOPE CFO Cannabis Accounting Business Expands | AccountingToday.com

DOPE CFO was recently featured on AccountingToday.com. Many businesses face challenging hurdles due to the complex IRS tax penalties. DOPE CFO aims to help educate cannabis businesses in the form of instructions, templates and libraries of documents about legal, tax, accounting and cannabis industry-specific issues. 

 

To read more at AccountingToday.com, click HERE

Continue Reading...
Close

50% Complete

Two Step

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.