services

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Cannabis Fractional CFO

  • Benefits of not hiring a full-time employee if you don’t need it yet and save costs

  • You can focus on growing your business

  • Can scale with you

  • Cash flow management

  • Assist with projections/budgeting  

  • Assist with implementing cost accounting structures and allocation plans to minimize the impacts of 280e (in coordination with your tax preparers) while remaining compliant with U.S. GAAP

  • Due diligence support

  • Audit readiness

  • Assist with implementing best practice internal controls and work flow processes in the cannabis industry

Assist with technical accounting issues including preparing research and accounting memos:

  • Revenue recognition/ASC 606

  • Leases/ASC 842​

  • Business Combinations and purchase accounting

  • Equity Transactions/Stock Compensation

  • Consolidations 

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Accounting standards implementation assistance (ASC 842)

  • Work with management and the team to develop an implementation plan and timeline

  • Inventory all leases to determine the completeness of the scope of the implementation

  • Analyze the leases and read the agreements

  • Conclude on treatment and position for all material leases/types 

  • Write the accounting position paper with relevant supporting guidance 

  • Assist with lease software selection as needed

  • Prepare and propose journal entries and related amortization schedules 

  • Assist with developing post-implementation controls and processes to monitor compliance

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