Your CFO, without the full-time salary
If you hire us to serve as your part-time CFO, you will gain the combined knowledge of our entire firm. Years of finance, accounting and tax experience at your disposal. Some key services we can help you with:
Developing Annual Budgets and Proforma Financials
Developing a budget and continuously forecasting your expected income and expenses will help keep your business on track. We can help you develop your annual and long-term budget as well as develop a proforma Balance sheet, Income statement, Cashflows.
Prepare the Profit and Loss and Cash forecasts
You should be in the habit of reviewing your actual performance often. At least monthly you should sit down with your CPA to evaluate the prior month's performance. We can help develop processes to effectively monitor your business through P&L and cash forecasting.
Business Advisory services
Manage your accounting team to develop policies and procedures, and service as the business advisor.
Financial statement development
Complete financial statement development on GAAP or tax basis for bank loans or other requirements.
M&A assistance
M&A assistance with valuation, due diligence review.
Clean books, tight controls
The Controller is the custodian of your books and records. It is critical for any growing business to find a controller with the knowledge and experience to develop efficient and effective processes. Additionally, the person in this role should understand how to establish proper accounting internal controls to secure the company's assets, especially cash and inventory. Key activities to be managed:
- Review General Ledger – Bookkeeping entries
- Prepare Cost Accounting & Accrual Entries
- Review reconciliation, specifically cash and inventory
- Deliver Monthly Financial Package
- Maintain complete books and records
Taxes, built around 280E
A good CPA should be advising you on ways to structure your business and ways to minimize your taxes due. There are strategies unique to cannabis such as utilizing a 471(c) approach as an alternative to 280E. We are a team of tax professionals working exclusively with cannabis clients. Some tax matters we can assist you with:
- File Federal and State income tax returns
- Prepare quarterly tax estimates
- Develop the business organization structure and strategy for maximizing COGS
- Assist with State sales and local tax filing
Need the due dates? Check the cannabis tax calendar for every state.
Statements your bank and investors trust
We provide attest audit, review and compilation services to businesses of all sizes. Whether you need a detailed audit for your bank, a review for potential investors, or a compilation for your annual report, or your company has a reporting or compliance need outside the standard scope of any of these, we can quickly and accurately compile your financial records into meaningful GAAP-compliant financial statements, and can deliver complete audit attestation.
We can help develop an internal audit function. If you are public, or in the process, we can develop your Sarbanes-Oxley (SOX) program.
Other things we're great at
We are a boutique firm with experienced professionals with years of experience in Cannabis, Accounting, Tax, Finance. For mid-tier businesses looking to go public we can assist with creating a go to market proforma package for investors, assist with development of financial controls, SOX documentation, etc. Additionally, if you need forensic accounting, assistance with city and tax payments, revival of a suspended entity, etc.
- Develop Accounting Policies and Procedures
- M&A assistance with valuation, due diligence review
- Forensic accounting and fraud review
- Analyze data trends and developing forecasts