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Master the fundamentals of running a successful remote Cannabis accounting practice with industry expert Andrew Hunzicker, CPA. In this essential episode, discover the business strategies and systems you need to complement your technical expertise and build a thriving virtual practice.Learn how to:âď¸ Maintain peak productivity in a remote environmentâď¸ Implement systems for consistent service deliveryâď¸ Market your practice effectively to Cannabis clientsâď¸ Build and manage virtual client relationshipsâď¸ Position your practice for sustainable growthWhether you're transitioning to remote work or looking to optimize your existing virtual practice, this episode provides the practical guidance you need to succeed in Cannabis accounting.
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Our guest today is Andrew Livingston. Andrew is the Director of Economics and Research at Vicente LLP. Vicente LLP is a top-ranked national cannabis law firm providing legal and policy services to marijuana and hemp companies, psychedelics companies, ancillary businesses, investors, governmental bodies, and advocacy organizations.
As the firm's director of economics and research, Andrew assists clients with developing and expanding their enterprises across cannabis markets nationally and internationally. A wide variety of marijuana and hemp businesses look to Andrew for help navigating the regulatory intricacies that influence market dynamics, as well as to create sophisticated revenue models and pro forma for investors and to guide strategic decision-making.
Andrew recently spoke at AICPA in August of 2024 where he discussed the major economic issues facing state-regulated cannabis businesses and what to expect with potential future rescheduling and market expansion.
Tune in as cannabis economics expert Andrew Livingston breaks down the business of marijuana and what's next for this growing industry.
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The pressure is on. Your Cannabis clients are counting on you to guide them through the capital raising process, but one misstep could jeopardize their future. Choosing the wrong funding type, overlooking critical documentation, or failing to plan for expenditures are common mistakes people unfamiliar with this industry make when attempting to raise and manage cash.
But it doesn't have to be this daunting. With the right approach, you can confidently offer capital-raising services that provide immense value to your clients while ensuring you're fairly compensated.
Cannabis finance expert Andrew Hunzicker, CPA, reveals:
How to structure comprehensive capital-raising services for Cannabis clients
Strategies for determining the optimal funding type and preparing robust documentation to increase approval and funding odds
Approaches to ongoing financial modeling and capital expenditure planning
Multiple pricing models to ensure you're compensated fairly for your expertise
Tips for positioning yourself as an indispensable partner in your client's growth journey
Don't let uncertainty hold you back from offering this vital service. Tune in to unlock the strategies you need to excel in Cannabis capital raising.
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Missing cash. Unaccounted expenses. Vanishing inventory. In the Cannabis industry, these aren't just minor bookkeeping errors â they're ticking time bombs that can obliterate your business's compliance, credibility, and bottom line.
Ignoring or glossing over these issues isn't an option. Cannabis companies operate under intense scrutiny, and the consequences of mishandling discrepancies can be severe. But how do you address these problems compliantly without derailing your operations?
Join us for this critical podcast: "Navigating Accounting Discrepancies in Cannabis: Compliance, Prevention, and Resolution" with Andrew Hunzicker, CPA and Cannabis accounting expert.
In this no-holds-barred session, we dive into:
The real risks of unresolved accounting discrepancies in the Cannabis industry
Step-by-step protocols for addressing missing cash, unaccounted expenses, and inventory gaps
Proactive strategies to prevent discrepancies before they occur
How to maintain ironclad documentation that satisfies even the strictest regulators
Building a culture of accuracy and accountability in your Cannabis operation
Don't let accounting discrepancies threaten your Cannabis business's future. Arm yourself with the knowledge and strategies to tackle these issues head-on and keep your operation running smoothly and compliantly.
Tune in and transform your approach to Cannabis accounting accuracy.
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Cannabis companies need capital to grow. As their trusted advisor, are you prepared to help them get it?
Many accountants struggle to structure, price, and sell capital raising services to Cannabis clients because they've...
Never done it.
Don't know how to do it.
Aren't aware of the crucial role that they play in helping companies proactively stay capitalized enough to fund future endeavors and whether the turbulent storms of the industry.
But with the right approach, you can become an indispensable partner in your clients' growth journey.
In this episode, you'll learn:
How to package and price capital raising services for Cannabis clients
Effective strategies to pitch these services and demonstrate their value
Key considerations for Cannabis fundraising that set you apart from generalist accountants
Techniques to guide clients through the due diligence process investors demand
The importance of maintaining connections with investors and potential providers for your clients.
Don't let uncertainty hold you back from offering this vital service. Expand your expertise, grow your practice, and become the go-to CFO for ambitious Cannabis companies.
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With the Cannabis industry constantly changing, staying on top of the latest compliant inventory practices can feel untenable. Unfortunately, failing to remain compliant can lead to disastrous financial and legal repercussions for your client, your business, and your reputation.
If you are struggling to navigate inventory compliance, you are not going to want to miss our latest podcast âCompliant Rock Solid Live Inventory Counts." Led by DOPE CFO Founder, Andrew Hunzicker, CPA, learn directly from Andrew as he shares his expert insights and strategies on maintaining accurate inventory compliance.
During this podcast, you will learn:
Internal Revenue Code 471 and how to stay compliant
Best practices, tools, and workpapers for successful inventory accounting
Compliant inventory count practices and procedures
RC 471-2 Lower of Cost or Market considerations along with tools and processes for cost accounting
Legal and financial liabilities for mismanaged inventory
And so much moreâŚ
Whether you are looking for help understanding inventory compliance or searching for tools to effectively better manage inventory, this podcast will guide you through the intricacies of inventory compliance accounting.
Donât let poor inventory accounting practices jeopardize your business!
Tune in and equip yourself with compliant best practices to drive your businessâ growth in the Cannabis industry.
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Vertically integrated Cannabis companies have complex accounting needs that span multiple entities and require a team of specialists to ensure compliance and optimal financial performance. Trying to handle it all alone can lead to burnout, missed opportunities, and costly mistakes. đ°
But building an accounting team that can effectively serve these clients feels like a daunting task, especially for solo firms or small practices. How do you know which roles to hire for? What's the right balance between in-house and outsourced talent? đ¤
Get answers to these critical questions and more in our latest podcast. In this practical, hands-on episode, Andrew Hunzicker, CPA and Cannabis accounting expert, lays out a proven blueprint for assembling a lean, efficient team that can handle the complex needs of vertically integrated clients.
You'll walk away with:
Clarity on the essential roles you need to cover, from day-to-day accounting to CFO-level strategy
A practical framework for deciding when to hire vs. outsource key functions
Proven strategies for managing cash flow, profitability, and compliance across multiple entities
Don't let the fear of building a team hold you back from pursuing large, lucrative clients in the Cannabis space. Listen in to gain the confidence and practical guidance you need to assemble a powerhouse accounting team that can handle even the most complex vertically integrated businesses.
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Navigating real estate decisions for your Cannabis business is a complex process with no one-size-fits-all solution. Whether you're setting up a cultivation facility, manufacturing plant, or dispensary, understanding the pros and cons of leasing vs. owning and the tax implications of each is crucial to making informed decisions that align with your unique goals and circumstances. đżđĄ
Leasing may offer more flexibility and lower upfront costs, but it also means you're at the mercy of a landlord and may face unexpected rent hikes or even eviction. Owning your property provides long-term stability and control, but it also requires significant capital investment and ties up your cash flow. đ¸
The stakes are high, and with so many factors to consider, it's easy to feel overwhelmed. But by arming yourself with the right knowledge and strategies, you can confidently navigate the Cannabis real estate landscape and make choices that set your business up for success. đŞ
Listen in to this informative podcast, "Real Estate Strategies for Cannabis Businesses: Navigating Leases, Ownership, and Taxes," as Andrew Hunzicker, CPA and Cannabis accounting expert, breaks down the key considerations for Cannabis real estate and provide actionable insights to help you make decisions that fit your unique needs.
You'll learn:
The advantages and disadvantages of leasing vs. owning Cannabis real estate
Factors to consider when choosing a location and property type for your operation
Tax planning strategies and potential pitfalls associated with Cannabis real estate
Whether you're a cultivator, manufacturer, or retailer, this session will provide you with the tools and knowledge you need to develop a real estate strategy that supports your business goals and minimizes risk.
Don't let uncertainty around real estate hold you back. Tune in and gain the clarity and confidence you need to make informed decisions for your Cannabis venture.
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There are two reasons why cultivators need proper financial modeling:
For licensing. Most states require some form of a plan that illustrates that you understand what your operating costs will be and that you have enough capital to fully fund operations.
For investors and operators alike, modeling is incredibly important to ensure that there is a plan for a successful outlook for the business based on actual information and experience vs guessing.
But creating a comprehensive financial model for a Cannabis business is no easy task. From understanding the true costs of cultivation to navigating complex regulations and market fluctuations, there are countless factors to consider. Overlooking key details or making overly optimistic assumptions can lead to missed targets, cash flow problems, and disappointed investors.
In this episode, Andrew shares the essential considerations and tools needed for creating robust, realistic financial models that can help you navigate the unique challenges of the Cannabis industry.
During this podcast, you'll learn:
The critical importance of understanding best-case, worst-case, and realistic scenarios in your financial projections
Key factors to consider when modeling the true costs of Cannabis cultivation, processing, and distribution
How to account for often-overlooked expenses and potential roadblocks to profitability
Strategies for building flexibility into your financial model to adapt to changing market conditions and regulations
The vital role of understanding Cannabis grow cycles and industry-specific metrics for accounting professionals
... and more!
Whether you're a Cannabis entrepreneur looking to create a solid financial foundation, an investor aiming to make informed decisions, or an accounting professional seeking to better serve your Cannabis clients, this podcast is packed with valuable insights you won't want to miss.
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In order to do proper inventory and cost accounting, accountants must have the proper processes and systems in place to meet compliance rules.
Since Cannabis is considered a Schedule I substance, under 280E companies that sell or âtrafficâ the plant are not able to take deductions like typical businesses can. However, the DEA is on the verge of rescheduling the drug to Schedule III which eases the tax burden of 280E, and can create more complexities for Cannabis companies and the accountants that serve them.
In our latest episode, we discuss the ins and outs of cost accounting and compliance for the current landscape of the Cannabis industry, and whatâs to expect when the plant inevitably gets rescheduled by the DEA.
We cover concepts that include:
Inventory accounting best practices, tools, workpapers, and procedures
IRC 471-2 Lower of Cost or Market considerations
Compliant inventory count procedures
Cultivation and manufacturing cost accounting considerations (how to find the cost to grow a pound of weed or gram of oil)
Dispensaries and IRC 471-3
âŚand more!
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Our guest on today's episode of the DOPE CFO Podcast is Alyssa J. Dillon. Alyssa is a former CFO that managed the accounting for non-profits.
After quitting her job in 2018 with $1000 to her name, and after having two children in one year, she had to figure out what to do, and working for someone else wasn't the answer. Within a few short months, Alyssa was bringing in clients and making over $25k/month and hasn't stopped. Fast forward to today, she's helping (non-cannabis) accountants quickly build thriving firms using the systems and practices that she's employed that have helped her become successful.
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Sources within the DEA have confirmed that rescheduling has been green-lit and is moving forward. Speculators have been saying that this wouldnât happen until after the election, but it looks as though things are moving quicker than critics have been suggesting.
So what does this mean for Cannabis companies and the people who serve the industry?
We go over the details in our latest episode.
With 280E out of the picture, there is a massive opportunity to support Cannabis companies in a major way.
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The Associated Press just announced that DEA has agreed to reschedule Cannabis, which is going to usher in all sorts of change. Unfortunately, a lot will stay the same, and things are inevitably going to become much more complicated from a compliance standpoint. On the one hand, 280E wonât be so punitive, but taxes will still be high, and accounting will be even more challenging. Donât get blindsided by whatâs to come.
In our latest podcast, DOPE CFO CEO and founder, Andrew Hunzicker, CPA discusses "How accounting and taxes will change when Cannabis is Rescheduled."
He shares information on:
How rescheduling affects raising capital The more complex tax returns Valuation considerations as rescheduling happensâŚand more!
Tune in and take notes so you don't get left behind by the massive changes ahead in this industry.
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Our guests today are Rachel Gillette and Jennifer Benda. They are partners at Holland & Hart LLP and work in the groupâs Cannabis Division.
Holland & Hart LLP is a national law firm who serve a wide range of industries. Our guests today are both partners in the Holland & Hartâs Cannabis Division. The emerging cannabis legal sector faces novel legal challenges and complexities. They help cannabis businesses cut through the complexity.
Their team guides clients with ensuring operational compliance and in building creative solutions and productive relationships with state, local, and federal authorities. Their tailored approach helps cannabis and natural medicine businesses, stakeholders, and ancillary service providers analyze risks and chart a strategic course in the dynamic Cannabis industry.
Listen as they discuss upcoming changes in Cannabis law and how they will impact Cannabis accountants.
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New entrepreneurs have a lot to look forward to that they often donât realize until they are knee deep in their new venture and find that there are certain skills and competencies that may be lacking that can hurt their progress.
Everything about how you approach your work has to shift, yet some people carry their employee mindset and practices into self-employment which can create all sorts of problems that can be blindsiding.
If you are thinking about stepping out on your own for the first time, listen in as we discuss the shifts that new Cannabis Accounting firm owners need to make in order to build successful businesses. In this episode, we discuss:
The importance for developing systems and processes
Understanding the value of your time (8 hour days look different and can quickly turn into 15 hour days if youâre not careful)
Managing expectations of yourself and your clients
Thereâs so much that gets added to your plate as you set out to build a growing business. Make life easier by knowing whatâs ahead.
Listen in so you can learn how to solve for it so that you are prepared.
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On today's episode, we are excited to welcome Lauren Baptiste, the founder and CEO of Acheloa Wellness.
Lauren Baptiste is a corporate burnout turned coach and CEO. She serves ambitious women professionals as their go-to Burnout Expert.
Before launching Acheloa Wellness, Lauren spent 13 years as a top performer at a Big Four Accounting Firm. She was always at the top of her earning bracket and was nominated a âRising Star'' in the industry. However, her professional drive eventually landed her in the Emergency Room from workplace burnout. Lauren notes that it was the ultimate test of how hard she was willing to work for her career.
Since then, sheâs successfully guided hundreds of professional women through similar challenges at work and home. She offers a path to achieve your personal and professional goals without succumbing to burnout.
In this episode, Andrew and Lauren discuss:
Lauren's story and how burnout landed her in the hospital How Lauren founded a new company while applying the lessons she learned from burnout Common symptoms of burnout Strategies for accountants and business owners to avoid burnout (while being massively successful) How to find calm amidst the chaos of our busiest seasons at work How women can find balance in their life and still achieve their career aspirationsLauren shared this guide to setting healthy boundaries for our listeners. If you'd like to learn more about Lauren and her work, you can visit her website and connect with her on social media (Instagram and LinkedIn).
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In this episode of the DOPE CFO Cannabis Accounting Podcast, Andrew Hunzicker, CPA dives deep into the debate of value pricing versus hourly billing for Cannabis accounting services. Andrew argues that in today's competitive landscape, accountants must move beyond basic bookkeeping, payroll, and tax prep services to provide real value to clients.
As AI and offshore labor continue to commoditize traditional accounting tasks, the key to thriving in the Cannabis niche is to become an indispensable, full-service CFO. Andrew shares strategies for specializing deeply in the unique challenges of the Cannabis industry, from navigating complex regulations to managing rapid growth.
You'll learn how to provide CFO-level advisory services that go beyond mere number crunching, how to become your client's trusted right hand, and how to continuously raise your fees to match the value you deliver. Andrew also discusses the importance of having a robust set of Cannabis-specific tools, work papers, and best practices, as well as tapping into a community of industry experts.
If you're an accountant looking to break into the exciting world of Cannabis accounting or take your existing practice to the next level, this episode is a must-listen. Tune in now and discover how to ditch the hourly grind and build a thriving, value-focused cannabis accounting business.
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Massive changes are coming that could rock the Cannabis industry to its core.
With Cannabis potentially being rescheduled in 2024, huge shifts are on the horizon that will transform the landscape:
â Company valuations poised to rise 5-10 times
â Increased access to banking, commercial lending, and bankruptcy protection
â Potential overhaul of interstate commerce, research, and new Cannabis medicines
â Complex effects on taxes, regulations, and local businesses
Whether you are an investor, business owner, accountant, or looking to enter the industry, you'll need the facts on what rescheduling and descheduling Cannabis will actually mean.
Get the exclusive insights from Cannabis accounting expert Andrew Hunzicker, Founder and CPA, during this timely podcast epsiode where you'll discover:
â What rescheduling would actually meanâhint: higher company valuations
â The immediate and long term impacts across the industry landscape
â Exactly how to position your business or investments now for massive growth
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As 2023 drew to a close, monumental shifts across the Cannabis landscape set the stage for an epic 2024. Tune in as we provide an exclusive year in review for 2023, analyzing the developments in policy, business, and finance that will shape the future of the industry in 2024 and beyond.
Weâll discuss insights on:
New states that legalized and their market potential
The latest federal reform efforts in Congress post-midterms, including the prospect of of federal legalization and what that means for the industry at large
Recap of the deals and trends that defined cannabis in 2023
Our projections for 2024
Whether you are an investor or operator, this podcast will equip you with our expert predictions of the trends ready to catalyze industry growth in 2024 and beyond.
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On today's episode, we are excited to welcome Dr. David Cunic, the CEO of UCS Advisors.
David is a physical therapist turned Investor Relations and Networking Expert, particularly specializing in the Cannabis Industry and Healthcare Sector. With over 18 years in the medical field and an impressive entrepreneurial track record of starting over 10 companies, leading seven Cannabis businesses in the U.S., he has become an inspiration for entrepreneurs and business owners.
His academic foundation in physical therapy and healthcare management, combined with his hands-on experience in business development and capital fundraising, has positioned him as a pivotal figure for Cannabis companies aiming to reach new heights of success.
In today's episode, David and Andrew discuss:
How he went from physical therapy to working in investor relations His experience with entrepreneurship and how he started working in Cannabis How to build an effective pitch deck and what to avoid when presenting to investors Current trends in investor markets and what has changed in recent years How accountants can help their clients achieve greatness in business and how to build confidence while raising capital in CannabisDive right in with our much anticipated conversation with Dr. David Cunic.
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