With more states across the US, and countries worldwide, legalizing this controlled substance for medical and recreational use, CPA’s will have more clients investing or expanding their business into this sector and need to be prepared for the complex ever-changing requirements.
Whether you are already working in this niche or looking to expand into it, this conference offers a variety of sessions over 2 days covering key industry news and insights, including taxation in the US and Canada – an update from the IRS and specific sessions covering entity selection 280E. Gain an understanding of how to audit or build a Cannabis practice; become aware of the risks and the opportunities available in becoming a specialist in this subject.
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This includes sessions from the conference: 2021 AICPA & CIMA Cannabis Industry Conference
Sessions Included:
Cost Accounting "101" for the Cannabis Niche (Nov 08, 2021 09:45 AM)
Valuing Cannabis 2.0: Buckle Up, This is About to Get Interesting! (Nov 09, 2021 01:25 PM)
Navigating the Challenges and Hurdles of 280E in the Cannabis Industry (Nov 08, 2021 10:40 AM)
Section 280E Disputes: When to Hold 'Em, When to Fold 'Em (Nov 08, 2021 02:40 PM)
Practical Impact of Section 280E Litigation on Structuring and Due Diligence (Nov 09, 2021 11:35 AM)
Welcome and Introductions followed by Cannabis 101 (Nov 08, 2021 08:00 AM)
M&A (Nov 08, 2021 11:35 AM)
Fireside Chat (Nov 08, 2021 01:25 PM)
Social Equity (Nov 08, 2021 03:35 PM)
Keynote: Embracing the Future of Legal Cannabis (Nov 09, 2021 08:00 AM)
Ethics and Practice Management/Risk Management in Cannabis (Nov 09, 2021 09:05 AM)
Auditing (Nov 09, 2021 10:40 AM)
Attorney/CPA Panel (Nov 09, 2021 10:40 AM)
Cannabis and Forensics--How Might the Numbers Indicate Fraud Risks (Nov 09, 2021 02:40 PM)
Capstone with Fireside Chat (Nov 09, 2021 03:40 PM)
Kick off the AICPA & CIMA Cannabis Industry Conference with shared insights from three industry leaders; Zachary Gordon, Melissa Diaz, and Katye Maxson-Landis. This session will give accountants a starting point for providing services to the cannabis industry. Cannabis faces unique challenges resulting from its federal illegality; consider industry hurdles, operational challenges and regulatory requirements. Each presenter will consider the question, "If I knew then what I know now..." and share their cautionary tales as well as their wins.
Finding solutions to the challenges of 280E to stay compliant and profitable within the Cannabis Industry.
Legal marijuana is one of the fastest-growing industries in the United States, despite operating under a patchwork of conflicting laws and ever-changing regulations. Now, with 19 states regulating adult-use sales and 36 states allowing medical marijuana sales, the cannabis industry is coming out of the shadows and beginning to be accepted and treated as a significant, professional sector. As state legalization laws pass at a rapid pace and a federal legalization bill is poised to be introduced in the United States Senate for the first time, a historic opportunity presents itself to participate in the creation of a new national marketplace rooted in fairness and equity.
Whether you are a service provider advising clients’ on having their cannabis operations audited, have experience in providing audit services to the industry or are considering providing audit services, you will want to join this discussion regarding the unique issues and challenges of cannabis auditing and how to evolve audit procedures as your client and the industry matures.
This session is designed to showcase the professional team that cannabis businesses need to surround themselves with in order to truly run a successful operation. Hear about the necessary interactions and cautions between legal and accounting issues which is imperative for practitioners to understand and respect. Understand the role of each professional and how each supports each other in this highly complex, constantly evolving industry. Hear stories from the trenches regarding the importance of working with industry experts.
The session will explore the unique nuances associated with the cannabis industry, including business and intellectual property appraisal challenges. Finding and applying market-based metrics in a rapidly evolving landscape will be contrasted with the use of forward-looking projections under an income approach to value. Jurisdictions like Colorado, Oregon and Washington are now considered to represent established markets versus emerging markets like Michigan, New Jersey and Florida where some are paying premium prices today for potential future opportunity. Lessons learned from Colorado will be highlighted. The session will also briefly explore the challenges of IRC 280E and where to find industry data and resources.
In this session you will learn about the intersection between taxes, accounting, IFRS vs. US GAAP, and complex business structures which make the cannabis industry ripe for fraud. Identify red flags of fraud and trace cash flow through complex business entities to understand what to look for in areas of due diligence, investor education, and business structure assistance and set-up.
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