By Andrew Hunzicker
CPA Trendlines Cannabis
When you look at a cannabis plant and a hemp plant side by side, the plants themselves look identical to an untrained eye, making it a bit challenging to identify, as the real difference lies in the chemistry of the plants.
But to the accountant, the differences a critical.
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Issues include clients in many verticals – cultivation, chemical manufacture, product manufacturing, labs, and retail – cost accounting, consolidations, and multi-entity issues, banking, software, and cash management, to name just a few.
And the tax and compliance issues are actually more complex for Hemp/CBD products than for cannabis products.
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About the Author
Andrew Hunzicker, CPA, has been a CFO for 20 years, and in 2017 won CFO of the Year Award, runner-up in the State of Oregon – the first ever in the cannabis space.
Ancor Advisors, is a full-service accounting solution for companies in every area of the Industry (farms, labs, dispensaries, processors, manufacturers). Additionally, the company teaches accountants, CPAs, and bookkeepers all around the US how to launch and grow a cannabis accounting firm.
See www.dopecfo.com for more information.Click here for more by Andrew Hunzicker