Accounting Principles in the Cannabis Industry


Product contents


Content length: 1h 42m
  1. 01. Accounting Principles in the Cannabis Industry
    10 Lessons

    Lesson contents:
    • Intro to Accounting Principles in the Cannabis Industry
      This video introduces expert Simone Cimiluca-Radzins, a CPA, and discusses her background and accomplishments.
    • The Basics
      In this video, Simone Cimiluca-Radzins lays the groundwork for how to become one of the 20 percent of businesses that succeeds in their first five years. She stresses that accounting is a fiduciary duty not only to the state, but to your cannabis regulatory body, local licensing, and even to yourself.
    • The Cannabis Industry from a CPA's Standpoint
      Simone Cimiluca-Radzins talks about the risks for CPAs who are considering working in the cannabis industry and the rewards that come with that decision. The cannabis industry is still illegal at the federal level but is an exciting arena because it is brand new.
    • This Thing Called 280E
      This video defines Section 280E of the Internal Revenue Code, which forbids businesses from deducting otherwise ordinary business expenses from gross income associated with the “trafficking” of Schedule I or II substances, as defined by the Controlled Substances Act. Simone Cimiluca-Radzins also discusses a court case that followed 280E's creation and how that case allows cannabis businesses to deduct Cost of Goods Sold.
    • 280E: Knowing Inventory is Required
      This video defines inventory for different segments of the supply chain, from cultivator to manufacturer to retailer. Simone Cimiluca-Radzins then explains how a CPA can help businesses in the cannabis supply chain determine what can be written off on taxes using inventory measures and cost of good sold.
    • Cash Flow Management
      This video provides tactics to become confident and in control when running your all-cash operation. Learn about setting a budget, best accounting practices, and securing your cash function.
    • Budgeting
      In this video, Simone Cimiluca-Radzins guides you through the creation of a first-year budget plan. Learn how to set realistic goals for sales, operating expenses, and compensation to ensure you have a long enough runway while growing the business.
    • Teaching Point - Cash Flow Forecasting
      This video discusses the three factors crucial to properly forecasting your cash flow: choosing the most appropriate accounting system, focusing on internal controls, and setting realistic KPIs.
    • The Future of Accounting in the Cannabis Industry
      Simone Cimiluca-Radzins predicts future changes in banking, insurance, and tax laws and how they will affect the cannabis-centric accounting industry.
    • Accounting Principles in the Cannabis Industry
      This article covers accounting principles in the cannabis industry. It explains Section 280E of the Internal Revenue Code, which restricts what can be deducted on a cannabis company's federal taxes. The article also covers options to secure funding, cash flow management, and budgeting.

Accounting Principles in the Cannabis Industry is also part of:


Dispensary Agent Learning Pathway – 300 Series

24 courses
19h 38m

Cannabis Business Essentials

15 courses
22h 47m


Are there any prerequisites?
No. This program is available to anyone.
What's included with this program?
Online courses comprised of engaging videos and written materials, knowledge checks at the end of every module to assimilate your learning, private forum for students to connect and provide support, downloadable references to keep and access on your phone, and your official Green Flower Certificate (once you pass the exam).
Can I take the program online?
Yes. Green Flower Programs are 100% online and can be taken from anywhere in the world.
Who should get a Green Flower certificate? What will it do for me?
Whether you are looking to enter the cannabis industry, get hired by a cannabis company, invest in the cannabis market, win a cannabis license, become a more knowledgeable advocate, better serve the patients in your care, or contribute more deeply to your organization, getting a Green Flower Certificate will make you exponentially more confident, credible, and valuable to the cannabis industry today.
How do I pass the course?
You'll need to achieve a grade of 80% on the Final Exam to pass the course and receive your Green Flower Cannabis Fundamentals Certificate.
What can you tell me about the final exam?
The Green Flower Cannabis Fundamentals Exam is a comprehensive multiple choice exam administered online. A grade of 80% is required to pass. Enrollment allows two attempts to achieve a passing score. You will have 365 days to complete both the program and the final Exam. After 365 days, you will no longer have access to the program or testing materials. This is a closed book Exam. Upon Passing, you will receive your official Green Flower Cannabis Fundamentals Certificate to hang on your wall and use for credibility and trust in the Industry.
What happens if I don't pass the exam?
You will have two chances to pass the final exam with enrollment. Retakes are $69 after that. You must achieve an 80% passing score to receive your Green Flower Certificate.
Is your program accredited?
No, Green Flower is not an accredited school and doesn't plan to be. We produce trusted cannabis education led and validated by the world's top experts, and our programs are utilized by companies, associations, nonprofits, and governments around the world.
Will there be any mailed, hard copy books or reference materials?
No, nothing will be mailed and no hard copy text will be assigned. There are materials in each course that you can download, print, and use at your convenience.
Can any module be visited more than once, to reinforce learning?
Absolutely! You can review any and all materials as many times as you would like in the 365 days (30 for Sell-SMaRT) your program is open.
Refund Policy
We understand that sometimes plans change. If you can no longer take the course, please email us no later than 7 days after your purchase. We will be happy to issue you a refund (minus our enrollment fee of $20). No refunds will be given to cancellations made after 7 days of purchase.

© Green Flower 2021. All Rights Reserved.