A CPA's Unexpected Journey into the Cannabis Industry

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Accountants at a crossroads in serving clients in an emerging industry.

By Justin P. Breidenbach
Ohio Wesleyan University

Being a CPA and academic, it’s not unusual to answer unique questions related to accounting. Whether they’re questions about taxes, financial statements, internal controls, or just understanding operational efficiencies, people are usually trying to understand the various paths to success through the numbers — or they’re looking for a secret nugget of information that will keep more cash in their pocket.

Inquiries like that are all in a day’s work for an accountant. I’ve discovered that there are few surprises, and eventually the promise of a new and exciting question fades away.  Although I constantly tell people how accounting is more than just debits and credits, I feel like we all have times where monotony sneaks its way into our professional life.

That all changed for me two years ago, when I got a question that not only surprised me, but wasn’t easily answered without some extensive research.

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Justin Breidenbach



About the Author

Justin P. Breidenbach, MAcc, CPA, CFE (jpbreide@owu.edu) serves as an Assistant Professor of Accounting at Ohio Wesleyan University (Delaware, Ohio). Justin instructs courses relating to financial accounting, taxation, and audit & assurance services. Additionally, Justin has had extensive professional work experience in public accounting and has provided services to organizations operating in the fields of agriculture, manufacturing, distribution, service, and not-for-profit.

See more at cannabizcpa.pro

 

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