Five Issues Affecting the Cannabis Industry

Our recent discussion on the latest Risk & Accounting Advisory podcast focused on five key issues impacting cannabis companies and how to address these unique industry obstacles. Our advisory professionals cover the main issues and root causes, and how we have helped address these challenging industry barriers.  With this highly regulated, yet growing industry, we turn to Kirstie Liberatore, Director in the firm’s Accounting Advisory practice and Corey York, Manager, in the Accounting Transformation Advisory practice. Moderating the podcast is Garrett Buckless, a Senior Manager in the Accounting Advisory practice. For more information on cannabis accounting, tax or business matters, visit: cbh.com/cannabis

In this episode of our Podcast, our advisory team discussed:

• Qualifying for FPI and Lack of Access to Capital
• PCAOB Compliant Financial Statements Drive SOX Compliance
• Inventory Challenges for Cannabis Companies
• M&A Activities Adding Complexity for Cannabis businesses
• State by State Specific Rules (Do we want to add this in?)
• Difficulty Retaining Specialized Knowledge & The Talent Shortage within the Industry
• Complexities with Financing & Leasing (Unusual Accounting Scenarios) and Accounting Treatment for Sales Leaseback Transactions 

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Chapters

• 3:58 Qualifying for FPI and Lack of Access to Capital
• 8:19 PCAOB Compliant Financial Statements Drive SOX Compliance
• 11:43 Inventory Challenges for Cannabis Companies
• 14:42 M&A Activities Adding Complexity for Cannabis businesses
• 18:16 State by State Specific Rules (Do we want to add this in?)
• 22:59 Difficulty Retaining Specialized Knowledge & The Talent Shortage within the Industry
• 28:40 Complexities with Financing & Leasing (Unusual Accounting Scenarios) and Accounting Treatment for Sales Leaseback Transactions