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Wednesday, October 26, 2022 Live Webcast

Marijuana: A Generalized Business Viewpoint (E2210162)

11:00 AM - 12:40 PM EDT

Registration: 10:30 AM EDT

webcast

Vendor Platform

1 CPE Credits in TX
1 CPE Credits in SK

OVERVIEW

Each year, more states legalize cannabis (i.e., marijuana) for medical or recreational purposes. As legalization grows, so too does the cannabis industry. While some financial professionals have stayed away from this growing sector of the economy, others have embraced the opportunities the cannabis industry has to offer. The legalization of cannabis brings with it a complex regulatory landscape, which includes strict compliance with federal and state regulations. However, the complexity of this emerging market provides opportunities for accountants and other financial professionals. Behind the cannabis dispensaries are scores of related business sectors including food production, retail, farming, and chemical production, as well as facilities, design, and construction. Simply stated, the commercialization of marijuana offers financial professionals an opportunity to participate in an industry expected to reach $73 billion worldwide within six years.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Anyone in the accounting or financial services professions who seeks to gain a better understanding of the most relevant topics in the marijuana industry or who counsel individuals or businesses working within some part of the marijuana industry

BENEFITS

  • Understand the legal framework that allows accounting and financial firms to operate and grow within the marijuana industry
  • Be familiar with applicable Internal Revenue Code sections applicable to this industry
  • Be well versed in the potential risks and rewards for financial professionals working in the marijuana industry
  • Understand the issues unique to the production, delivery, and retail aspects of this market

HIGHLIGHTS

  • An overview of current state and federal laws governing marijuana
  • A review of state boards of accountancy regarding marijuana
  • How some financial professionals are capitalizing on the marijuana industry
  • Providing auditing and tax services within the marijuana industry
  • How accountants and other financial professionals can manage risk within this industry
  • IRC Section 280E’s prohibition of deductions involving controlled substances
  • A summary of various state taxation laws on marijuana
  • Ethical issues for accountants who work in the marijuana industry
  • Relevant banking regulations
  • Growth projections

COURSE LEVEL

Overview

PREREQUISITES

General familiarity with the accounting and business principles

ADVANCE PREPARATION

None

INSTRUCTOR

David Peters

David R. Peters, CPE, CFP, CLU, CPCU, MST, M.B.A.

David Peters is the founder and owner of Peters Tax Preparation & Consulting in Richmond, VA, as well as a financial advisor for Peters Financial, LLC. He has over 15 years of experience in financial services, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com – a position he held for over three years. He is a national CPE instructor/discussion leader for the AICPA, Kaplan, and Surgent, and he was a recipient of Surgent’s Outstanding Discussion Leader award for 2019. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. He is the advisor for business and industry topics for the South Carolina Association of CPAs and was a recipient of The American College of Financial Services’ 2019 NextGen Financial Services Professional Award. He holds four master’s degrees and is currently pursuing his Ph.D. in financial planning. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018, 2019, and 2020 versions of the Virginia CPA Ethics course – a required course for all CPAs licensed in the Commonwealth of Virginia. Registered Representative offering securities through Cetera Advisor Networks LLC, member FINRA/SIPC. Advisory services offered through Carroll Financial Associates, Inc., a Registered Investment Adviser. Carroll Financial and Cetera Advisor Networks, LLC are under separate ownership and are not affiliated with any other named entity.