Agenda

8:30 AM – 8:35 AM
Welcome & Opening Remarks

8:35 AM – 9:25 AM
Keynote Presentation: Navigating the Green Frontier: Michigan’s Cannabis Legislative Update
Delving into the current state of the cannabis industry, focusing particularly on the legislative landscape in Michigan. Learn about the recent changes in cannabis laws, market trends, and regulatory updates shaping the industry in the state, providing a nuanced understanding of the opportunities and challenges for businesses.
Becky Bechler – Managing Partner, Public Affairs Associates, Inc., Lansing
Jeff Brownlee – Public Affairs Associates, Inc., Lansing
State Representative Graham Filler – State of Michigan House of Representatives
Credits: 1.0 OT

9:35 AM – 10:25 AM
Annual Financial Statements
Following the enactment of recent legislation, the annual financial statement requirements for licensees in both medicinal and adult-use retail spaces have been consolidated into a single report. Review this change and others as well as current and upcoming legal, legislative and regulatory developments.
Kristie Jordan – Financial Compliance Manager, Department of Licensing and Regulatory Affairs (LARA), Detroit
Credits: 1.0 AA

10:35 AM – 11:25 AM
Building the Backend: Inventory & Cost Accounting for Growers and Processors
Beyond point-of-sale, creating effective backend accounting features can help improve tracking and reporting for inventory costs and stock. Draw comparisons between other production industries to determine which practices can be applied to cannabis and make determinations on applicable 280E and Treasury compliance software solutions as well as capabilities that meet the requirements of financial institutions.
Greg Frazier, CPA.CITP – Owner, Greg Frazier, CPA, PLLC, Detroit
Credits: 1.0 AA

11:35 AM – 12:25 PM
Panel: Taking Cannabis All the Way to the Bank
Once a barren frontier, cannabis banking options in Michigan are increasing all the time. Bring your burning questions and discuss options for lending, credit card usage and upcoming products designed specifically for members of the cannabis industry.
Michael Kozak – VP, Director of Commercial Business Development, Union Bank, Portage
Matt Raison – AVP of Business Services, Community Choice Credit Union, Farmington
Moderator: Charlene D. Raikany, CPA – Booked and Balanced PLLC, Troy
Credits: 1.0 OT

12:25 PM – 1:15 PM
Break for Lunch

1:15 PM – 2:05 PM
Breaking Down Risk Financing Strategy
Too often, organizations of all sizes commoditize their approach to risk management and insurance purchasing strategy. This leads to a purchasing cycle trap that does not meet the organization’s risk appetite and financial capabilities. We’ll take a deep dive into concepts like total cost of risk and how it relates to a cannabis organization’s insurance purchasing roadmap. CPAs will walk away with a more thorough understanding of how to position a productive risk financing strategy for their clients that will ultimately improve bottom-line performance.
Quintin Meek, CIC, CAWC, CWCC, RCIP – Cannabis Practice Lead, Assured Partners, Detroit
Credits: 1.0 OT

2:15 PM – 3:05 PM
All Things Tax & Treasury
From property tax to sales and use tax issues, discuss the most recent tax and revenue developments impacting cannabis clients. Review recent case law and recently released Revenue Administrative Bulletins relevant to tax issues impacting the Michigan cannabis industry.
Jackie Cook, JD – Partner, Novara, Troy
Credits: 1.0 OT

3:05 PM – 3:35 PM
Afternoon Break

3:35 PM – 4:25 PM
Applying IRS Sec. 1.471-11 to Cannabis
IRS Sec. 1.471-11 refers to the use of the full absorption method of inventory costing wherein production costs are allocated to only the good produced during the taxable year. Use real-world examples to determine best practices for full absorption cost accounting as applied to cannabis, including common pitfalls, tax accounting issues, client internal controls and more.
Kareyna Miller, CPA – Founder, LEACIF, Otter Lake
Credits: 1.0 AA

4:35 PM – 5:25 PM
On Trend in Cannabis: Business Transactions & CRA Reporting
Recent proposals introduced by the Michigan Cannabis Regulatory Agency (CRA) could impact your cannabis clients for better or worse. Review the evolution of licensed cannabusiness structures in Michigan and evaluate the potential impacts of current industry trends and pending changes on everything from taxes and borrowing to licensing and reporting.
Denise Pollicella, Esq. – Founder & Managing Partner, Cannabis Attorneys of Michigan, Howell
Credits: 1.0 AA

5:25 PM
Program Adjournment

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