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Cannabis Industry Holds Unique Challenges for CPAs
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Cannabis Industry Holds Unique Challenges for CPAs
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Trade Publication Article
Cannabis Industry Holds Unique Challenges for CPAs
2020
Overview
[...]33 states (and the District of Columbia) have enacced laws maUing medical marijuana legal, and 11 (plut the District of\" Columbia) huve legalmed its sale Cot recreationaluse. According to FinCEN, it is up to each financial institution whether \"... to open, close, or refuse any particular account or relationship. [...]the unrealized value of these plants can significantly increase the gross margin of a company without ever selling one plant. [...]valuing marijuana plants using this method does not take into consideration influences that could affect the ultimate sale of the product, such as economic factors, weather conditions, insects or other pathogens, and the law.
