Vertical Integration in the Livestock Industry

Aug 8, 2022 3:10pm ‐ Aug 8, 2022 4:25pm

Identification: AG2204

Overview of US Beef Industry. Focus on feedlots and pertinent accounting practices.

Learning Objectives:
  • Analyze the US Beef Industry
  • Analyze feedlots
  • Recognize accounting practices
Category: General Session

Regulatory Fireside Chat

Aug 8, 2022 3:40pm ‐ Aug 8, 2022 5:00pm

Identification: CAN2208

A recap of day 1--overview of the industry and the basic introduction to the challenges faced with this new industry

Learning Objectives:
  • Identify key regulatory concerns for the cannabis CPA
  • Understand differences in regulatory environments
  • Learn about different regulatory frameworks
Category: General Session

Opening Remarks | Tax Planning

Aug 9, 2022 7:30am ‐ Aug 9, 2022 8:50am

Identification: AG2205

This tax planning session is a potpourri of tax planning topics of prevalent issues within the tax community important for ag producers and landowners. The selected topics include issues that have been discussed within the agricultural tax community for decades as well as recent developments arising out of the TCJA and pandemic legislation.

Learning Objectives:
  • Distinguish real property from personal property for Section 1031 purposes, specifically addressing Section 1245 real property
  • Identify opportunities for reduction of self-employment tax while not increasing net investment income tax exposure
  • Recognize opportunities and limitations regarding allocations of nutrient values in agricultural land purchases
  • Analyze the speaker's view of distinctions between trade or business activities and activities engaged in for profit for QBI purposes
Category: General Session

Opening Remarks | Congressman Address: SAFE Banking Act | Advancing the Cannabis Industry: An Outlook for the National Landscape

Aug 9, 2022 7:30am ‐ Aug 9, 2022 8:50am

Identification: CAN2209

Congressman Perlmutter will give an update on his cannabis banking legislation, the SAFE Banking Act, and discuss other news of the day out of Washington D.C.

Overview of federal and state marijuana policy reform efforts and the cannabis industry. Learn what challenges and opportunities lie ahead for the country's fastest growing adult industry.

Learning Objectives:
  • Understand the impact of politics and cannabis accounting
  • Identify key political factors and legal factors that impact the industry
Category: Conference Keynote Onsite and Online

Statements: What Financial Institutions are Looking For

Aug 9, 2022 9:00am ‐ Aug 9, 2022 9:50am

Identification: AG2206

Lenders rely on financial reporting from their clients to obtain critical information about a businesses' financial solvency and the various business and industry risks they face. So it stands to reason, the most important benefit of good financial reporting to a lender is access to high quality financial information. Furthermore, the average lender does not have ongoing inside access to the day-to-day operations of a company. Instead, they rely on financial reporting to provide accurate and readily comparable information. This session will explore what lenders are looking for when they "ask for the moon" and why they want it.

Learning Objectives:
  • Distinguish what a lender "wants" versus what a lender "needs" to make a sound credit decision.
  • Identify the biggest mistakes businesses make in dealing with their lender in terms of their financial reporting process.
  • Analyze what businesses can expect from their lender's financial reporting requirements
Category: General Session

Social Equity, Economic Empowerment, and Minority Participation in Cannabis

Aug 9, 2022 9:00am ‐ Aug 9, 2022 9:50am

Identification: CAN2210

Hear from a CPA practioner and understand their perspective on this unique aspect of the cannabis industry

Learning Objectives:
  • Understand what social equity means in the cannabis industry
  • Understand opportunities for CPAs in servicing social equity clients
  • Understand opportunities for minority and social equity CPAs
Category: General Session

Financial Institution Panel

Aug 9, 2022 10:10am ‐ Aug 9, 2022 11:25am

Identification: AG2207

Hear it live from three of the best and most respected lenders in the market. The panel will discuss various topics including what it means to keep the three masters they serve, the borrower, the bank and the regulators, happy! Borrowers want their money NOW and often times struggle with why lenders are either appear to be slow to respond to their loan request or keep asking for more information. The bank, on the other hand, is built on a risk reward model where the higher the borrower's business and information risk, the higher the expected return on the money they lend. Regulators expect lenders to be singularly focused on risk identification and mitigation in their loan portfolio. This session is intended to be interactive as well. So come with your questions!

Learning Objectives:
  • Identify what lenders are seeing and hearing in the market.
  • Distinguish trends in the future of banking
Category: General Session

Raising Capital in Cannabis

Aug 9, 2022 10:10am ‐ Aug 9, 2022 11:00am

Identification: CAN2211

Understand the funding options available to cannabis companies and typical methods of raising start-up capital

Learning Objectives:
  • Learn how cannabis companies are funded
  • Learn about challenges faced in raising capital
Category: Concurrent Session

Cannabis Banking

Aug 9, 2022 10:10am ‐ Aug 9, 2022 11:00am

Identification: CAN2212

Cannabis businesses face unique challenges in obtaining typical financial services available to other industries. Hear from a series of providers to the industry and the unique nature of these aspects as they relate to the cannabis industry.

Learning Objectives:
  • Learn how the cannabis industry differs from other industries; complicating matters
  • Understand why financial service providers shy away from providing services to the cannabis industry
  • Learn how CPAs are so important to financial service providers; especially for the cannabis industry
Category: Concurrent Session

Navigating the Challenges and Hurdles of 280E in the Cannabis Industry

Aug 9, 2022 12:00pm ‐ Aug 9, 2022 1:15pm

Identification: CAN2213

This session will focus on the existing tax court cases, an update of the tax court cases in cannabis, and the challenges from practioners and tax attorneys who navigate these murky waters. Topics such as 471c, economic enterprise structure, and the definition of trafficking will be discussed

Learning Objectives:
  • Understand the impacts of 280E and the latest rulings from tax court cases
  • Learn about the complications associated with taxation in the industry
Category: General Session