Search Results for: Cannabis

Anders Focuses on Cannabis Industry Following Missouri Legalization

St. Louis-based Anders CPAs + Advisors (FY17 net revenue of $31.8 million) is expanding expertise and services for businesses in the cannabis industry following the legalization of medical marijuana in Missouri.

Anders says it has a team committed to staying on the forefront of evolving regulations, licensing procedures and accounting practices for the cannabis industry.

“This is a great opportunity for the firm to enter into a progressive industry and offer valuable insight and expertise to cannabis businesses, from seed to sale,” explains Adam S. Prest, tax principal and leader of the Anders cannabis team.

The firm works with cannabis entrepreneurs, including cultivators, extractors, manufacturers, dispensaries and investors. The team has the tools to help cannabis businesses succeed and navigate regulations and complex tax challenges, including Section 280E. Anders is offering services to help with entity selection and business plan development prior to the license and application process, to performing valuations to assist in the sale of a business.

More news from Anders CPAs + Advisors

More news on Cannabis Practices

EisnerAmper Expands Cannabis Practice

New York-based EisnerAmper (FY18 net revenue of $360.7 million) anticipates rapid expansion of the hemp and cannabis industry at the federal, state and international levels and is therefore expanding its services.

EisnerAmper is adding to its accounting, tax and advisory services for hemp and cannabis companies, from startup to exit. The firm also helps entities prepare for and adapt to regulatory changes and offer compliance services designed to meet annual governmental reporting requirements.

“This is the fastest-growing and most quickly evolving industry I’ve seen in my 35 years in business advisory services,” says Rick Frimmer, EisnerAmper managing director and cannabis and hemp practice leader. “What sets us apart is our practical experience having performed many engagements in this one-of-a-kind sector on behalf of both public and private companies. We know the landscape. We know the participants. And our lengthy track record of accounting proficiency and a client-centric approach is widely known.”

More news from EisnerAmper

More news on Cannabis Practices

RoseRyan Launches Cannabis Company

RoseRyan of Newark, Calif., has launched a new company, Kukuza Associates LLC, that concentrates solely on the cannabis market.

The new company is a finance and accounting consulting firm that closely mirrors its parent, RoseRyan. Founded in 1993, RoseRyan has more than 100 professionals, delivers finance and accounting solutions.

Explains RoseRyan CEO Kathy Ryan, “It’s exciting to launch Kukuza Associates, a finance and accounting consulting firm powered and backed by RoseRyan. It deepens our investment in the cannabis market and is geared specifically to this dynamic, rapidly evolving marketplace.” RoseRyan entered the cannabis market in 2014.

Kukuza Associates works with startups and established companies in every segment of the cannabis market at every stage of the lifecycle.

Says Dave Roberson, CEO of Kukuza, “Designed for this unique marketplace, Kukuza’s finance and cannabis accounting solutions are vital for businesses that are growing, vertically integrating and eyeing deals. Our experienced team steps in, brings order to the chaos and navigates cannabis companies ahead by putting a solid finance foundation in place.”

He notes that Kukuza’s cannabis solutions address strategic finance as well as day-to-day accounting, emphasizing that both are prerequisites for sustainable success. The company’s name is drawn from the Swahili word meaning potential and growth.

Based on RoseRyan’s original offering for the cannabis industry, Kukuza offers a refined and expanded set of cannabis solutions: assessment, strategic finance, outsourced accounting, financial reporting and analysis, transaction support and internal controls.

More news on Cannabis Practices

Janover LLC Launches Cannabis Industry Practice Group

Marsha P. Ellowitz

Garden City, N.Y.-based Janover LLC (FY17 net revenue of $30 million) announces that it has launched its cannabis industry practice group, headed by Marsha Ellowitz and Jason Hoffman, who have focused on this industry for over five years.

Janover works closely with their clients in the cannabis industry to properly structure business entities so that legal and tax advantages are optimized. The firm offers these clients a broad spectrum of traditional services, as well as, IRC Section 280E compliance and business valuation, which are critical for clients in the cannabis industry.

“We listened to our clients’ needs in the cannabis industry and determined that it was imperative to expand our offerings,” notes Mark Goodman, Janover’s MP.  “Our cannabis industry practice group builds value for our current clients, and will attract new clients within this evolving field.”

Accounting Firm Leader Joins Cannabis Solutions

Christopher Taylor, who recently ran his own accounting firm, has been hired as the first finance chief for Promap Corp. of Colorado Springs, Colo., which will soon be called Advanced Cannabis Solutions Inc.

Taylor’s firm specialized in auditing the books of medical marijuana businesses in Colorado, though he says he isn’t an avid marijuana user himself, CFO Journal reported. The company won’t produce, sell or distribute marijuana, but plans to purchase properties where the drug is made or sold, and lease the facilities back to the owners. Taylor said he intends for Advanced Cannabis to be a fully reporting company by the time it files its quarterly report for the September period. “I get to design the internal controls,” he said. The combined companies will  soon implement a name, management and stock trading symbol change to reflect the new direction and business plan of the company.

IPA INSIDER: March 2019 News

Listed below are the Top 10 most-read stories on the INSIDE Public Accounting blog for the month of March.

  1. EisnerAmper Expands Cannabis Practice
  2. WSJ: Former Partner at KPMG Faces Trial in PCAOB Scandal
  3. Anchin Block & Anchin Announces New Partner, New Subsidiary
  4. IPA Vendor Spotlight On . . . Steve Templeton
  5. Whalen & Company Acquires Martinelli & Company
  6. Deltek and Grant Thornton Form Alliance
  7. Richey May Acquires Amata Solutions
  8. Frazier & Deeter Opens First International Office
  9. YHB Merges in Accounting Firm in Falls Church
  10. Armanino Opens New Office in Seattle

Frazier & Deeter Names Three New Partners

Andrew Case

Atlanta-based Frazier & Deeter (FY17 net revenue of $83.6 million) has announced that three members of the firm have been admitted to the partnership: Andrew Case, Matthew Foster and Jerry Johnson. Johnson has become a partner in the firm’s audit practice. Case and Foster are the newest partners in the tax practice.

MP Seth McDaniel says, “As Frazier & Deeter expands into new services and new geographic markets, the new generation of partners will play a critical role in our growth.”

Case has more than 10 years of public accounting experience. He works with middle market companies that are private equity backed, bringing his clients considerable expertise in tax planning for partnerships, S Corporations and high-net-worth individuals. He works across a variety of industries, including real estate, private equity, technology and manufacturing.

Jerry Johnson

Foster has more than 10 years of experience in public accounting. He plays a leadership role within the firm’s life sciences practice. He specializes in helping middle market companies that are privately held or backed by private equity. His expertise includes corporate structuring for tax strategies, mergers and acquisitions, joint ventures and ESOPs. His clients operate in a variety of industries including cannabis, manufacturing and distribution, technology, real estate and construction.

Johnson has more than 20 years of accounting experience and is a member of the firm’s Tampa, Fla., office. He has worked with a number of publicly traded companies, reviewing SEC filings, testing of internal controls over financial reporting, auditing merger and acquisition transactions, as well as performing, reviewing and supervising audits and other attestation engagements. He has also helped privately held companies prepare for initial public offerings. His industry expertise includes the areas of manufacturing and distribution companies, food and beverage companies and health care providers.

Reynoso Joins MGO As Partner

Cesar Reynoso

Cesar Reynoso

Los Angeles-based Macias Gini & O’Connell (FY17 net revenue of $53.6 million) announces that Cesar Reynoso has joined the firm as an assurance partner in the Newport Beach, Calif., office.

He serves SEC registrants and other companies, using his expertise in the real estate and cannabis industries to help clients planning to go public or already listed on public exchanges in the U.S. Canada.

“Cesar’s expertise leading all aspects of audit and related services to some of the largest and most complex multi-national public SEC registrant companies is a significant addition to MGO’s team,” says Kevin O’Connell, CEO and MP.

Prior to joining MGO, Reynoso worked with several large firms where he focused on providing assurance service to SEC accelerated filers, public cannabis companies, large multi-national companies, private corporations and real estate companies.

New York Office Opening for MGO

Kevin O’Connell

Los Angeles-based Macias Gini & O’Connell (FY17 net revenue of $53.6 million) announced the opening of a new flagship office in New York. The new office, led by New York office MP Rich Paris, will serve MGO’s growing list of clients in New York and across the East Coast.

“MGO is doing so much business on the East Coast, we couldn’t ignore the need for a brick and mortar presence in Manhattan,” says CEO and MP Kevin O’Connell. “This expansion will not only strengthen our existing traditional operations, but as the market leader taking cannabis companies public, we will be ideally positioned to support clients when the U.S. public markets open their doors to the cannabis industry.”

Paris has more than 20 years of experience in human resources and accounting. Paris was previously the founder and leader of a successful executive search company based in New York. “We already have deep connections to the New York business ecosystem and a physical presence here will help us deliver MGO’s dynamic service offerings with great attention and personal touch,” he says.

MGO’s New York City office, located at 622 Third Ave., will provide a full suite of assurance, tax, advisory, capital markets advisory and staffing services.

IPA INSIDER: October 2018 News

Listed below are the Top 10 most-read stories on the INSIDE Public Accounting blog for the month of October.

  1. INSIDE Public Accounting Unveils 2018 Best of the Best Accounting Firms
  2. Congratulations to the 2018 IPA 200 and 300 Firms
  3. INSIDE Public Accounting Reveals The Nation’s Largest 400 Accounting Firms
  4. Just Announced: The 2018 IPA 100
  5. LEA Global Hires Ishida as First CEO
  6. MRZ Merger with Baker Tilly To Give Firm Foothold in Houston
  7. Founder of Herbein + Company Passes Away
  8. Richey May Acquires Two IT Consulting Firms
  9. Mauldin & Jenkins Names New MP, Admits New Partners
  10. Janover LLC Launches Cannabis Industry Practice Group