Now that most of the nation is holed up under shelter-in-place guidelines, Cannabis and CBD are considered essential (in most states) and sales have been increasing, While other companies are on lock down and laying off their employees, there is truly no time like the present to build your own 100% remote Cannabis or CBD accounting firm. 

But how do you even get started? What is the actual process to transfer from a full-time job at a corporate accounting firm to running your own...

As with any other major industry, access to quality insurance coverage is of the utmost importance for Cannabis companies. Most big-name insurance carriers, however, won’t come near the Cannabis industry due to the plant’s classification as a Schedule 1 drug, which also makes it federally illegal. With so many vertical moving parts, Cannabis companies need insurance for equipment, employee benefits, E&O, and various other aspects of their operations.

There are, however, plenty...

The Cannabis industry is booming, and trained and knowledgeable accounting professionals are in extremely high demand. Although federally illegal (for the time being), Cannabis is now legal for medical use in 33 states and 11 states recreationally, and is responsible for some $20 billion of revenue in the legal market. With around $70 billion still lurking in the illegal Cannabis market, business owners in the industry are constantly searching for ways to turn those who still purchase...

With Halloween just around the corner, we decided to speak to a certain kind of horror… specific to the accounting industry. The mention of the word “cleanup” is enough to scare any seasoned accountant. We’ve all heard horror stories from our peers about leftover financials that were too tough to tame. Although most of those stories end with the accounting professional saving the day, the path to a successful cleanup can be a bumpy one, to say the least.

Cleanup is...

So you’ve decided that you want to take the plunge and dive into cannabis accounting. Great!

While these are new and exciting times, it is completely understandable if you have concerns about promoting your business within your personal and professional networks.

People have their opinions about the cannabis industry; some good, some bad. But don’t let that get in the way of promoting your business and becoming an expert.

The truth of the matter is that in order to be seen as an...

Understanding the difference between CBD & THC, hemp and cannabis is vital if you’re entering into the realm of cannabis accounting.  

In our recent podcast, we talked with Summer Wilkinson, co-founder of Leap Books, about the differences between them all, and how she got into the industry.  

How are the two plants different?

CBD can be extracted from the hemp or marijuana. Hemp plants are cannabis plants that contain less than 0.3 percent THC, while marijuana...

With the rise in popularity of legal cannabis products comes plenty of regulatory issues to keep up with, analyze, and implement as an accounting professional. Laws and regulations are changing almost daily, so staying in the know is of the utmost importance in keeping you and your clients out of trouble. Keeping up with THC and CBD regulations in the cannabis accounting space can be a daunting and seemingly hopeless task, but we’re here to help. Let’s take a look at some of the...

My goal with this blog is to explain how to win in cannabis in 2019 as an accounting professional. We get countless emails from people that want to try to do it the hard way, and that’s fine. But if you really want to maximize your efforts, you’re going to want to pay attention. As you may know, we provide cannabis accounting training to professionals all over the United States. This knowledge is unique in the cannabis industry right now, and is a way to add REAL VALUE (listen up...

We here at DOPE CFO have been speaking at national conferences and to the press, CEOs, and accountants for quite sometime about how to do things correctly in cannabis accounting. But, we’ve been getting questions from investors, as well: from the billionaires (yes plural) who call us asking how to “fix” a bad investment with poor or no corporate governance, to the local millionaire wondering why he’s getting hit with a big cannabis tax bill, but no distribution from...

Cannabis friendly software solutions have posed many challenges to accounting professionals, owners, operators, and investors. In order to remain in compliance in today’s cannabis world, there are monthly, quarterly, and yearly reporting requirements at the state and federal level which include required bank reporting, consolidated financials for investors and lenders, and  others that can be laborious and hard to keep straight without centralized software systems that integrate....