Marijuana: A Generalized Business View

Overview

Each year, more states legalize cannabis (i.e., marijuana) for medical or recreational purposes. As legalization grows, so too does the cannabis industry. While some financial professionals have stayed away from this growing sector of the economy, others have embraced the opportunities the cannabis industry has to offer.  The legalization of cannabis brings with it a complex regulatory landscape, which includes strict compliance with federal and state regulations. However, the complexity of this emerging market provides opportunities for accountants and other financial professionals. Behind the cannabis dispensaries are scores of related business sectors including food production, retail, farming, and chemical production, as well as facilities, design, and construction. Simply stated, the commercialization of marijuana offers financial professionals an opportunity to participate in an industry expected to reach $73 billion worldwide within six years.

Prerequisites

General familiarity with the accounting and business principles.

Designed For

Anyone in the accounting or financial services professions who seeks to gain a better understanding of the most relevant topics in the marijuana industry or who counsel individuals or businesses working within some part of the marijuana industry.

Objectives

Understand the legal framework that allows accounting and financial firms to operate and grow within the marijuana industry.    Be familiar with applicable Internal Revenue Code sections applicable to this industry.    Be well versed in the potential risks and rewards for financial professionals working in the marijuana industry.    Understand the issues unique to the production, delivery, and retail aspects of this market.