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In this session you will learn the nuts and bolts of cannabis accounting and tax, from the origins of the specialty industry through the tax courts, through accounting for inventories under Code Section 471 to ASC 330, to the latest best practices on accounting with an eye towards the complications of tax. Learn best practices in dispensary accounting, cultivation and manufacturing accounting, and other cannabis specific accounting from the ground up.
Learning Objectives:
Identify best practices on cannabis accounting for retail operations, cultivation facilities, manufacturing facilities, and vertical operations.
Recall the concepts on costing inventory so that you can apply them to a number of different scenarios.
Recognize documentation requirements and audit defense on an accounting perspective.