Entries by Brigid Galvin

With More Than 5K Applications for Adult-Use Dispensary Licenses in Illinois, Will you be one of the 75 Lucky License Recipients?

Last week I had a great trip to Illinois and was able to spend time with current and prospective operators, cannabis legal professionals and cannabis consultants. During my meetings, I heard a common theme: the state of Illinois is trying to be the leader in social justice in awarding adult-use cannabis licenses and in providing […]

A Day with Jim Marty

This past summer, I was lucky to get a glimpse into the world of a cannabis accounting pioneer, Jim Marty, the CEO and Founder of Bridge West LLC. Bridge West is a CPA and consulting firm that has been entirely devoted to serving cannabis and hemp professionals since 2009. Jim began his practice with his […]

Cannabis & Tech Today: Building a Financial Plan for Your Cannabis Business? What You Need to Know

All good business plans require a financial projection. Creating a financial projection is both an art and science. A financial projection will include projected sales, budgeted expenses, a balance sheet, cash flow, and sources and uses of funds. Also, a financial projection will help determine how much funding will be needed and the projected return […]

Cannabis Inventory and IFRS Biological Assets – Inventory Records

As cannabis companies continue to move to the public markets in Canada, high quality inventory records become much more important. Not only is there greater disclosure and scrutiny of financial information, but International Accounting Standard 41: Agriculture (IAS 41) requires additional computations on biological assets (plants and all inventory derived from those plants) to bring […]