services
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
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