The cannabis industry presents many creative business opportunities which we can help you fully understand the accounting and reporting implications of moving forward with those transactions. Further, we can advise you on how to structure those transactions so that you meet your business objectives.
Beyond that, we can give you guidance on the Securities and Exchange Commission’s rules and regulations around those specific deals and discuss and recent developments in the financial landscape that may influence your deal structure.
Our goal is to create a pathway for you to succeed and bring synergy between your auditors and valuation partners.
As you prepare for any sizable financial move, you will need to undergo an audit which we can help you prepare for and support you throughout the entire audit process.
From financial statement preparation to SEC filings, we will make sure that your management team is confident and prepared for the road ahead.
We are also PCAOB certified so we can help you make the necessary conversions in either direction between IFRS to US GAAP.
Our team can help your company navigate the SEC rules for any significant acquisitions and help you decide whether it’s better to purchase an entire business outright or acquire specific assets.
With our valuation experience, we can give you guidance on how much you should allocate to the purchase price and give you considerations for contingencies on any specific deal that you’re looking to make.
We have experience in many different deal types and are able to confidently walk you through recapitalizations, reverse mergers and even spin-offs and integrating financial systems after the deal is complete.
Revenue recognition is a generally accepted accounting principle (GAAP) and we understand its importance to business operators and investors alike. We help your company implement ASC 606 and account for revenue from contracts with customers in a compliant manner.
The GreenGrowth CPAs team can evaluate your current revenue recognition policy and develop a custom tailored strategy if needed including creating transaction-level revenue and deferred revenue subledgers.
We can also advise on the various aspects of revenue accounting including SAB 104, multiple elements, and necessary software.
As you grow and expand your cannabis company, you may need to take on debt or give equity for raising capital. We can help your team with technical memos and making the necessary journal entries.
Further, we can help you evaluate the impact on your business of regular and convertible debt as well as bridge loans.
We also advise businesses on how to distribute convertible and redeemable preferred stock and understand the impact of warrants, call and put options and other complex instruments.
Maintaining accurate and compliant financial record is critical to understanding your business and we can help reduce the time it takes to close your books and reduce errors in the closing process.
We will help you architect a consistent process that abides by SEC reporting guidelines and streamlines your ability to report to all stakeholders of your company.
Since the passing of the Sarbanes-Oxley Act (SOX) which helps protect shareholders and the general public from accounting errors and fraudulent practices in enterprises, as well as improve the accuracy of corporate disclosures, cannabis companies need to be diligent in assessing entity and control risks.
We can help you evaluate the control environment and document your internal processes, policies and control measures. Further, we are able to implement controls to meet SOX and COSO 2013 requirements.