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A CANNABIS TAX SERIES COURSE

GAAP Financials and the Cannabis Industry

The correct structuring of GAAP Financial Statements.
Course Format

online format

Course Level

Intermediate

Course Price

 $29.95

Field of Study

Cannabis Tax

TOPICS COVERED
GAAP
Principles
Understand GAAP principles as they relate to cannabis accounting.
Financial Statements
Learn how to prepare GAAP compliant financial statements.
Cannabis Accounting
GAAP and the full absorption method of accounting.
COURSE OBJECTIVES
  • Gain a complete understanding of GAAP Principles, constraints, and assumptions,
  • Learn why preparing GAAP compliant financial statement for cannabis clients is essential,
  • Learn how to prepare GAAP income statements,
  • Learn how to prepare GAAP balance sheets,
  • Learn how to prepare GAAP statement of cash flows,
  • Learn how to prepare GAAP statement of retained earnings,
  • Learn how to prepare GAAP statement of stockholders equity, and
  • Learn what notes are included in GAAP compliant financial statements.

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?

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

Are there any time limits on finishing the course material?

No! You may take all the time you need to work through the course materials!
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