“[Cannabis] businesses are hiring friends and neighbors to do their books. When they hire us, they don’t know the difference between assets and liabilities.”

California has long been a pioneer in the cannabis industry, so it came as no surprise that many of the sessions at the recent Accounting and Finance Show in Los Angeles focused on demystifying the very young and evolving industry, and sharing advice on how to work with potential clients in the business.

The web of cannabis taxation provides a big opportunity for accountants in the industry, and is what led the panelists of one conference session to form their own practice, DOPE CFO, to cater to this burgeoning vertical.

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Danielle Lee ~ AccountingToday.com ~