The Cannabis industry is undergoing transformative changes, with rescheduling imminent and valuations expected to surge. This comprehensive overview from the 2024 AICPA Cannabis Conference highlights crucial developments affecting businesses, investors, and service providers in the space. Watch the video for an in-depth overview of AICPA's 2024 Cannabis Conference.

We cover:

• Industry support and leadership
• The cannabis legalization landscape
• Rescheduling Updates
• Financial and Tax...

As the green rush continues, a sobering reality is setting in: for every Cannabis company that blooms, another wilts. The problem? Despite the industry's explosive growth, many businesses are operating on shaky financial ground. They're navigating this complex landscape without a map, relying on gut instinct rather than solid financial planning. It's a recipe for disaster, and we're seeing the consequences play out in real time with shuttered storefronts and failed ventures.

But here's...

As a CPA who's been knee-deep in Cannabis accounting for years, I've had a front-row seat to the industry's explosive growth. It's been a wild ride, watching this sector bloom into a multi-billion dollar market. But here's the kicker – we're just getting started. The potential for profit in this green rush is enormous, but so are the challenges.

In this guide, I'm going to share the insider knowledge I've gained from working with countless Cannabis dispensaries. We'll explore how...

The Cannabis industry is on the cusp of a monumental shift that's about to rock the accounting and tax world. As a CPA with nearly a decade of experience in this niche, I've watched this industry explode from the ground up. We've gone from zero to a $33 billion legal market in 2023, with support for legalization at an all-time high. But hold onto your calculators, folks – what's coming next is going to make the past few years look like a warm-up lap.

In April 2024, the DEA dropped a...

Becoming a Successful Cannabis CFO in Just 6 Months

You’re dreading the start of the week: the soul-crushing commute to the office, the long working hours that resemble more like a 5-9 than a 9-5, and the monotonous day to day grinding, crunching numbers for the same thankless clients — does this daily routine resonate a little too much with you? Have you ever envisioned breaking free from the rigid corporate cycle and embarking on a more prosperous, fulfilling path but...

Whether you’re a Cannabis CBD/Hemp CEO or an accounting professional supporting licensed businesses in this space, knowing what is required with regards to compliantly managing inventory, as well as understanding the necessary processes and controls is valuable knowledge that can serve you well.    

It’s complicated for licensees who need to comply with how their particular state tells them inventory must be reported yet need some relief from the punishing...

Don’t know how much you should charge for providing Cannabis accounting services to pre-revenue businesses? You’re not alone! In this blog post, we uncover two main ways to consider setting your price. The first is by accurately framing the value you provide and asking a number of smart questions. The second is by reviewing a number of areas within the company’s pitch deck. Investing some time and energy into this process in the ways we suggest below will enable you to price...

Building a successful Cannabis/CBD Hemp accounting, tax, and Chief Financial Officer firm within six months is highly possible. Many DOPE CFO members have done it themselves, some in just a matter of weeks or months. It will however require work, commitment, putting in the time, and going through all of the necessary steps we will talk about in this blog post. If you’re wondering whether you can build your own firm while you keep your day job, the answer is yes. 

One major thing to...

Whether launching a startup, collaborating with established industry players, or stepping into the shoes of an investor, knowledge is imperative when it comes to making sound investments; the Cannabis/CBD/Hemp industry is no exception. The potential profits in this booming market are undeniable yet the pitfalls of balancing accurate accounting, navigating intricate tax codes, and comprehending personal liabilities can quickly turn an investment dream into a financial nightmare. The mistakes...

Whether you’re looking to serve Cannabis startups as a world class CFO or are a Cannabis CEO in the making, knowing what it takes to properly position the company for success is imperative. 

Now, we don’t say all of this to scare anyone away or to be gatekeepers in any form or fashion. We say this so that all parties can know what is needed in order to do well in this niche. We want this niche to thrive, and not die on the vine because the blind are leading the blind into...