AAFCPAs Speaking at Illinois Cannabis Convention

Posted on May 27, 2022June 9, 2022

AAFCPAs’ Cannabis Practice has been selected to present an educational workshop: Modeling Considerations When Entering a New Market at the Illinois Cannabis Convention, June 10^th-11^th, 2022, at the McCormick Place Lakeside Center, Chicago, IL.

MODELING CONSIDERATIONS WHEN ENTERING A NEW MARKET

Entering a new Cannabis market requires planning and adapting to regional nuances unlike almost any other business. Financial modeling is a crucial step to understanding what lies ahead, and operators must consider a myriad of key factors that will most impact their balance sheet. There are highly individualized markets that vary in regulation, pricing, competition, saturation, and just about every other business consideration. There are layers of compliance and regulations at the city, county, and state level that must be navigated. As you model your path into a new jurisdiction, operators must shed assumptions and dig into the local environment to understand the hurdles.

AAFCPAs’ Cannabis Practice Leaders Janice O’Reilly and Scott Posnick will provide attendees with insight into:

Key financing considerations when entering a new market
Challenges in forecasting operational expenses, including local energy/utility and talent nuances, which may cause delay in becoming operational and affect your burn rate

Session Title: Modeling Considerations When Entering a New Market
Day/Date: Saturday, June 11, 2022
Start Time: 2:00 pm
End Time: 2:50 pm
Programing Track: BUSINESS

Learn more about NECANN Illinois.>>

AAFCPAs is a full-service CPA and consulting firm that serves the cannabis industry nationally. We continue to monitor ever-changing developments in federal & state regulations, banking reform, and taxation. Please spread the word so others may benefit from this helpful industry conference, and please contact Janice O’Reilly, CPA, CGMA or Scott Posnick, CMA if you are headed to the Convention!

About the Authors

Janice O’Reilly, CPA, CGMA

Janice is a Partner in the Consulting Division of AAFCPAs and advisor and former leader of the Managed Accounting Solutions (MAS) practice, which provides “right-size” outsourced accounting solutions, from cloud-based bookkeeping to CFO deliverables, designed to optimize the effectiveness of the modern finance function. Public, privately-held, and nonprofit organizations value the pragmatic assessment, infrastructure set-up, and flawless execution of their accounting & finance deliverables—all completed with the resources and technical expertise of AAFCPAs’ full-service CPA and consulting firm.

Scott Posnick, CMA

Scott is a senior member of AAFCPAs' Managed Accounting Solutions practice, providing high-level, outsourced CFO oversight and strategic planning, including financial forecasts & analysis and advising on growth strategies, business transactions, tax optimization, and strengthening internal controls. He has 35+ years of diverse, hands-on industry experience, including: high tech, biotech, manufacturing, distribution & wholesale, leasing and finance, as well as many traditional New England-based industries. Scott is well-versed in the issues and complexities facing commercial company entrepreneurs, and he makes himself an invaluable source of financial guidance as an extended member of client management teams.