AICPA’s 2022 Conference Recognizes the Growing Need for Practiced Cannabis Accountants

Last year was a landmark year for the Cannabis industry with the AICPA (American Institute of Certified Public Accountants) acknowledging the potential for career growth in this rapidly expanding sector.

Now, just one year later, the Cannabis industry is nowhere near finishing its climb; instead it’s expanding as more and more states get on board with legalizing Cannabis. This year there is an entire Cannabis conference dedicated to bringing together industry leaders, including a more comprehensive list of Cannabis stakeholders from CPAs, CEOS, and finance professionals to attorneys, tax advisers, farm owners, staff, and more.

The need for specially trained Cannabis experts, particularly accountants, is clearer than ever before, and the AICPA has called on DOPE CFO to help lead the charge in instructing the next wave of Cannabis accountants. This year’s three day AICPA and CIMA Cannabis conference will be held August 8- August 10th in Denver, CO and will feature multiple sessions from DOPE CFO founder, Andrew Hunzicker, CPA along with key members.

Keep reading to learn more about DOPE CFO’s presentations and what you can learn from these experienced experts.

Conference Overview of Cannabis Subject Matter Experts and Topics

This year’s conference will be taking a deeper look into some of the most critical topics in the industry. Conference attendees can expect sessions on accounting, tax, and financial acts and regulations, the agricultural aspects like cultivation, processing, and distribution, setting up business entities accurately, raising capital, and how to keep Cannabis businesses compliant. 

As an accomplished expert who has become renowned in the Cannabis accounting field, DOPE CFO founder Andrew Hunzicker, CPA will be presenting four times throughout the conference to share his expertise, advice, and industry knowledge.

How to Build a Cannabis Practice

The session welcomes industry newcomers as well as those more familiar with the field. It’s no secret that there are many more laws and regulations that impact the Cannabis industry, but the hoops and red tape unique to the industry start before businesses are even fully established. 

The focus of this session is how to successfully start and scale a Cannabis-based business while adhering to all the necessary filings and codes. Attendees will gain insight into all the nitty gritty details, with takeaways to answer the biggest question for new businesses: “how do we get started?” 

This session provides basics that will help stakeholders truly get to know their clients. The presenters will offer guidance on how to assess your risk tolerance and how to accurately analyze a company’s business model to address any weaknesses.

Thinking Like a Cannabis CPA: Overview of Tax and Accounting Issues Unique to the Industry

The list of barriers to entry and issues plaguing the Cannabis industry seems never-ending, but this session boils down to the top 8-10 accounting and tax concerns that consistently impact the industry. While addressing these key issues, speakers will also be educating attendees on how to problem solve from a Cannabis perspective.

The primary goal of this session is to help accountants who are branching out into Cannabis to adopt the mindset of a Cannabis CPA by familiarizing them with the industry’s standards. The success of a Cannabis CPA is dependent on their ability to foresee future complications, avoid them whenever necessary, and plan accordingly to resolve them.

This session zeroes in on the biggest obstacles Cannabis accountants face and how CPAs should handle them when they arise.

Raising Capital in Cannabis

Getting a Cannabis business started is an extra challenge due to all the stipulations necessary for a startup, but the problems don’t stop once a business throws open its doors to the public. The presentation will feature speakers talking about the ways a Cannabis company can legally raise capital and a variety of funding options that are available to Cannabis businesses.

This session is designed for the Intermediate Cannabis accountant or business owner who has some real-world experience in the field and is looking for guidance in the next stage. As with many of Andrew Hunzicker’s conference presentations, he will be covering both the common issues as well as the ways in which to solve or address those obstacles. The session is a must for any stakeholder who is trying to raise money the right way without heading for any legal trouble later on.

For more information on raising capital for Cannabis companies, check out our blog.

Members in Industry Roundtable--Accounting in Private Industry

What’s better than hearing about an industry you’re passionate about from people who have made it? The Roundtable discussion is a DOPE CFO-led session featuring practitioners and accountants who operate in the private sector and have risen the ranks in the Cannabis accounting world. Joining DOPE CFO founder Andrew Hunzicker is esteemed DOPE CFO member Jacqueline Coudriet, CPA.

Accountants and practitioners alike will be sharing their personal journeys about breaking into the industry (including the challenges they faced to get where they are). The panel of experts will be highlighting the reasons they chose to pursue Cannabis accounting, how they were able to land jobs in the private sector, the major obstacles in the private Cannabis field, and the major takeaways from their real-world experiences. 

The DOPE CFO team is honored to be educating across four different stages at this year’s AICPA conference to encourage even more accountants to get started on this fulfilling career path. 

There’s only one month to go until the Cannabis conference, and we can barely contain the excitement. Be sure to stop by the DOPE CFO booth and sit in on our sessions!

For more information on the AICPA & CIMA Cannabis Industry Conference and to register to attend, CLICK HERE. Use the code CAN2022 for discounted admission.