The cannabis industry is undoubtedly the fastest-growing industry in the U.S. and has created one of the greatest business opportunities of the 21st century. In 2016, sales of legal cannabis reached nearly $6.7 billion. Arcview Market Research projects sales of legal cannabis products in North America will increase by a compound annual growth rate of 25%—reaching $20.2 billion—by 2021. The cannabis industry is constantly evolving, and while this industry may be outside of the comfort zone for accountants, lawyers, valuation experts, consultants and potential investors, it can also open doors to a new client group that up until several years ago didn’t exist.
The Cannabis Industry Accounting and Appraisal Guide provides useful information for appraisers and accountants about the unique financial aspects and intricacies related to businesses operating in the licensed and regulated cannabis industry. Every type of cannabis business has unique characteristics that accountants and business appraisers should consider. The complexities regarding this industry require the use of knowledgeable professionals, who are adequately trained and familiar with industry trends and protocols. As CPAs who work regularly with a wide range of business and clients, nothing has come close to the intellectual challenges encountered when addressing issues and concerns in this niche.
Additionally, the guide presents everything a cannabis business owner needs to know about choosing a business structure; basic accounting; setting up an accounting system, taxes, how to avoid an audit, the basics of valuation, and how to build value into your business for the future. Learn from this comprehensive guide about this exciting, relatively new, and rapidly evolving industry.