"/>
A Cannabis tax series COURSE

The Cannabis Tax Accounting Masterclass - from beginner to pro

This illustrated course removes the guesswork out of cannabis accounting and tax compliance.
Course Format

online 

Course Level

advanced

Course Price

      
$320

Field of Study

       
 cannabis tax

course highlights
cost accounting

Learn the full absorption method of accounting.
journal entries

Learn cannabis accounting journal entries.
tax preparation

Learn how to prepare a cannabis tax return.
COURSE TOPICS
Mastering GAAP and Accounting Principles in the Cannabis Industry

  • This course provides a comprehensive overview of Generally Accepted Accounting Principles (GAAP) as they apply to the cannabis industry. Gain a deep understanding of the importance of maintaining GAAP compliant financial statements, including the income statement, balance sheet, statement of cash flows, statement of retained earnings, and the statement of stockholders' equity.
  • Learn how to navigate the full absorption method of accounting required under IRC 471, ensuring accurate and compliant reporting for cannabis businesses.
  • Dive into the intricacies of capitalizing cannabis direct and indirect production costs, ensuring proper financial treatment.
  • Discover the art of structuring a cannabis chart of accounts tailored to cultivators, dispensaries, and vertically integrated cannabis businesses.
  • Understand the essential lower of cost or market (LCM) inventory rules specific to the cannabis industry, ensuring proper valuation of inventory.
  • Explore different business entity options and their relevance to the cannabis industry, empowering you to make informed decisions regarding the most suitable entity structure.

By enrolling in our course, you'll gain expertise in mastering GAAP and accounting principles uniquely applicable to the cannabis industry. Unlock the potential to navigate financial complexities, comply with regulations, and achieve financial excellence in this thriving sector.
Join us on this educational journey and seize the opportunities that await in cannabis accounting and financial management

Frequently asked questions

Are your cannabis tax accounting education courses approved for continuing professional education (CPE) hours?

Not at the moment. We are in the process of becoming an approved continuing education provider for the Internal Revenue Service so our students can earn credit hours for our courses. Upon IRS approval, we will offer CPE credit hours for IRS Enrolled Agents, Oregon Licensed Tax Consultants & Licensed Tax Preparers. CPE hours will also qualify for Chartered Financial Consultant (ChFC), and Certified Financial Planner (CFP) designation holders. 

Will your cannabis education programs provide the necessary knowledge to enter this lucrative and exciting industry?

Our flagship course provides students with a complete overview of Internal Revenue Code Sections 280E and 471. The courses cover how to calculate cannabis cost of goods sold (COGS), account for inventory under IRC 471 (3) & (11), GAAP accounting basics (including cost / full absorption accounting), how to prepare GAAP compliant financial statements, the basics of cannabis business entities, and the preparation of cannabis tax returns.

What if I have questions about the cannabis tax accounting education course material?

If you have any questions, you may call or email and we will respond within 24 hours.
Created with