AAFCPAs Provides Inventory Costing and 471 Guidance at AICPA & CIMA Cannabis Conference

Posted on August 4, 2022August 4, 2022

AAFCPAs’ Cannabis Practice Leader David McManus, CPA, CGMA will present Inventory Costing and 471 Guidance to cannabis industry experts, CPAs, Attorneys, Tax Advisors, and peers experienced and inexperienced with the sector at the Association of International Certified Professional Accountants (AICPA) & Chartered Institute of Management Accountants (CIMA) Cannabis Industry Conference on August 8^th in Denver, CO and Live Online.

Dave will share expertise related to full absorption cost accounting, cost accounting techniques, the application of code section 471, and what challenges exist in standing up to IRS scrutiny.

AAFCPAs is considered a key leader in the field of cannabis, and Dave will help seasoned practitioners and others looking to step foot in this booming industry stay on top of the latest insider news, regulations, and legislation.

If you are interested in joining AAFCPAs on August 8 – 10, 2022, or Live online, Register Here>>

AAFCPAs is a full-service CPA and consulting firm that has been servicing the cannabis industry since 2012 when Massachusetts first passed medical marijuana legislation. Our multi-disciplinary team includes CPAs, Consulting CFOs, Consulting Tax Attorneys, wealth advisors, as well as IT & cyber security professionals. Our specialists will help you thrive while navigating the increased complexity of running a sustainable, high-performing cannabis company.

About the Author

David McManus, CPA, CGMA

Dave leads AAFCPAs’ Cannabis Business Practice, providing highly coveted tax, entity structure, and business advisory solutions. Dave has been deeply immersed in understanding the complex financial and operational nuances of the cannabis industry since 2012. He advises multi-state operators, recreational and medical retailers, cultivators, product manufacturers, and investors. He proactively advises clients on risks, opportunities, and tax implications related to market entry, accounting methods, capital structure, debt financing, R&D, M&A, and goodwill impairment. He has led industry training sessions on interpreting and implementing new federal and state marijuana statutes, including compliance with 280E. Dave maintains a strong network of cannabis industry investors, attorneys, bankers, employee compensation and benefits providers, realtors, risk managers, and insurance agents, and he leverages these resources as appropriate to help clients achieve success.