Accounting

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May 11, 2022 

Cannabis Business Accounting: Bad Debts

If you are on the accrual method of accounting, and you recognize income as it is incurred and someone doesn’t pay you, you have a bad debt. However in cannabis you are stymied by Section 280E, which only allows cost of goods sold (COGS) to be deducted.

Craig Smalley

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May 9, 2022 

Imports Set New Record at U.S. Ports

Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the ...

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May 5, 2022 

PCAOB Updates Standard-Setting and Research Agendas

The PCAOB’s approach to advancing audit quality through standards, interpretations, and other guidance prioritizes select standard-setting projects. Specifically, through the standard-setting agenda, the PCAOB expects to strengthen auditing, quality ...

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May 5, 2022 

Accounting Pros Still Love Spreadsheets

Depending on the research, data shows that between 750 million and a billion people use Excel or other spreadsheet tools globally. This makes it one of the most-used financial tools in the world.