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Lesson from CannTech 2019: Create Your Own Strategy to Build Your Cannabis Brand

Lesson from CannTech 2019: Create Your Own Strategy to Build Your Cannabis Brand

Members of the Armanino LLP Cannabis team recently attended the inaugural CannTech, Silicon Valley’s first major cannabis technology summit.

Marijuana in the Workplace – Clearing the Smoke

Marijuana in the Workplace – Clearing the Smoke

Since 1996, 29 states and the District of Columbia have legalized medical marijuana. There are currently nine states, as well as DC, that have adopted laws legalizing cannabis for recreational purposes.
To Attract Investors, Cannabis Businesses Need Strong Processes and Controls

To Attract Investors, Cannabis Businesses Need Strong Processes and Controls

Cannabis businesses that are seeking funding need to show that they are equipped to navigate the industry’s many challenges. Investors want to see that they have a strong operational framework and the right controls in place.

Our Approach

Armanino is one of the 25 largest U.S. accounting and consulting firms. We are one of the few big firms that serves the cannabis industry.

Our accounting, tax and consulting services are tailored to the needs of growers, manufacturers, distributors, dispensaries and related businesses. We provide core accounting services and help you maximize operational efficiencies, automate key systems, maintain regulatory compliance and more.

We also leverage findings from our CFO Evolution 2.0 survey and research, conducted across many industries, to help cannabis business leaders streamline their organizations and focus on their strategic challenges.

Cultivation
Our tax professionals know the intricacies of Form 280E for maximizing tax efficiency. We make sure core accounting tasks—like accounting for plants through their life cycle—are executed correctly and at minimum cost, and we help you comply with all state laws and local ordinances.
Manufacturing
We help you comply with sourcing, product safety, worker safety, and environmental regulations. We implement cost-efficient inventory control methods, quality assurance procedures and security arrangements for safe and profitable operations. Our tax experts work to lower your tax burden.
Distribution
We help you solve the financial and operational problems of a cash business. We implement security programs that keep employees safe and product secure, and design internal controls to ensure compliance with all state laws, including taxation and licensing.
Dispensaries/Retail/E-commerce
Armanino works with dispensaries to achieve efficient inventory management, proper licensing and timely tax payments. We help you comply with packaging and labeling regulations. Our security professionals provide support against threats like embezzlement and robbery.

What We Do

We offer a full line of accounting, tax and consulting services to help you achieve sustainable profitability.

Technology

Technology

We offer best-of-breed technology platforms with predictable pricing for cannabis companies at every growth stage. Our team has in-depth knowledge of Odoo, METRC, Leaf Logix, LINX and other cannabis-specific software. We deliver scalable technology solutions tailored for your needs.
Taxation

Taxation

Our tax professionals are expert in cannabis-specific issues like IRC Section 280E. We help ensure tax payments are accurate and submitted on time. We provide strategies for maximum tax efficiency, including advice on incentives/research and development credits.
Cash management

Cash management

We help you adopt best practices to securely receive, store and transport cash. We introduce processes to ensure cash inflows and outflows are carefully tracked, and implement procedures to meet day-to-day cash needs and employ excess cash.
Finance and Accounting

Finance and Accounting

We help you secure the necessary people and expertise, whether it’s providing outsourced support or finding you qualified employees. We provide support for reconciliations, inventory costs, month-end closes and other accounting tasks, and offer technical accounting expertise, budgeting and analysis through identification of KPIs and industry benchmarks.
Audit and Assurance

Audit and Assurance

Our team conducts timely and efficient external audits that don’t disrupt your business. Our partners and managers work onsite to streamline your audit and resolve problems as they arise. We also offer valuable insights on accounting and operational issues uncovered during the audit.
Compliance

Compliance

Our experts help you navigate stringent state laws and regulations. We work to ensure that risk exposures are minimized and controls are in place to satisfy all licensing and regulatory requirements.
CFO Advisory

CFO Advisory

Our experienced team includes former CEOs, COOs and CFOs of major corporations. They provide critical expertise for business growth and transactions, including:

  • Business valuations
  • Equity management consulting
  • Restructuring
  • IPO readiness
  • M&A consulting
Business management/Family office

Business management/Family office

We provide a complete spectrum of business/family concierge services for cannabis investors and family offices.

Our Team

Resources

Cannabis Manufacturer Jetty Extracts Scales Finance and Accounting for Company Growth ...

Jetty Extracts manufactures a range of popular cannabis extract products, available in dispensaries across California. As the company began experiencing rapid growth, its new controller turned to Armanino for help in dep ...

Blogs

August 02, 2019

Why Internal Controls Are Critical for Cannabis Companies

Internal controls are processes designed to ensure the reliability of a company’s financial reports, the effectiveness and efficiency of its operat...

June 21, 2019

To Attract Investors, Cannabis Businesses Need Strong Processes and Controls

Cannabis businesses that are seeking funding need to show that they are equipped to navigate the industry’s many challenges. Investors want to see ...

June 05, 2019

Lesson from CannTech 2019: Create Your Own Strategy to Build Your Cannabis Brand

Members of the Armanino LLP Cannabis team recently attended the inaugural CannTech, Silicon Valley’s first major cannabis technology summit. CannTe...