Florida Cannabis Industry Conference - On Line Only (FCC)

Cannabis Conference
Cannabis Conference
Friday, December 03, 2021
Webcast or Webinar, Online
8:00am - 4:30pm (opens at 8:00am) EST
8Credits
Accounting and Auditing and Technical Business

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$219.00 Regular Price
Non-Members
$344.00 Regular Price
Course Type: CPE Conferences
Course Code: 21/FCC

Overview:

Keynote Speaker: Stacey Udell, CPA/ABV/CFF, CVA, Director, HBK Professionals and Consultants

The Cannabis Industry is Exploding in Florida

When the Florida Legislature lifted the ban on medical cannabis in 2019, the whole industry changed.  According to a recent report released by Leafly, Florida's medical marijuana industry grew by 93% in 2019 with a total market value approaching $800 million.  This growth has opened the door to investors, and is proving to be one of the most attractive markets in the country.  This conference will explore Florida's medical marijuana industry and what you, as a CPA or financial professional, need to know about this unique investment opportunity.


CPE Credit:

This virtual conference qualifies for up to 8 hours of CPE credit.  CPE credit is subject to approval by the Florida Department of Business and Professional Regulation. 


Conference Materials:
Conference reference materials are distributed to registrants electronically in advance of the program.  This fully searchable PDF includes speaker presentations and is intended for electronic use only.


Twitter

Follow the FICPA on twitter @ficpa and use #ficpaFCC to tweet about this conference.

Schedule:

Friday, December 3, 2021

Opening Remarks

Time: Friday 8:00am - 8:02am

Charles Felix, Chair, FICPA Florida Cannabis Conference Committee

Presenters:

Cannabis Industry Update: A National Perspective

Time: Friday 8:00am - 8:50am Credits: 1 TB

Stacey D. Udell, CPA/ABV/CFF, CVA, Director, and Christopher T. Marrie, Principal, HBK Professionals and Consultants

In the first half of 2021, five states legalized adult use cannabis through legislature, one has decriminalized it, and in one state, voters approved an amendment to legalize adult use cannabis but the Supreme Court is deciding whether it is constitutional. The cannabis industry is changing on a daily basis and attendees will be provided with the current status of the industry and the outlook for the future.

Presenters:

Break

Time: Friday 8:50AM - 9:00AM

Accounting for Cannabis

Time: Friday 9:00am - 9:50am Credits: 1 AA

Stacey U. Udell, CPA/ABV/CFF, CVA, Director, and Christopher T. Marrie, Principal, HBK Professionals and Consultants

While built on the same fundamentals, accounting for the cannabis industry is different because it is Federally illegal. From a tax standpoint, clients have to contend with IRC Section 280E and the inability to deduct ordinary and necessary G&A expenses most businesses incur and deduct. From an audit perspective, cash and inventory controls are important because banking services are limited, inventory has significant value and can be complex to audit, and clients have to comply with state regulations. Cost accounting is important to maximize the deductibility of costs of sales as well as prepare credible financial statements with accurate profit margins and should not be overlooked.

Presenters:

Break

Time: Friday 9:50am - 10:00am

The Business of CBD: Legal and Financial Issues

Time: Friday 10:00am - 10:50am Credits: 1 TB

Amanda Barton, Esq., Senior Associate, Mr. Cannabis Law

The 2018 Farm Bill has legalized hemp within the United States, helping hemp-derived CBD companies evade the provisions of IRC 280(e).  However, even with legalization, hemp-derived CBD companies face a litany of other obstacles, both legally and financially.  We will be discussing the challenges business owners face when involved in the hemp and CBD industry.

Presenters:

Break

Time: Friday 10:50am - 11:00am

The Business of HEMP: Funding, Financing, and Accounting

Time: Friday 11:00am - 11:50am Credits: 1 TB

Jeff Greene, Director of Business Development, The Florida HEMP Council, Inc.

Gain a broad perspective of the nuances of hemp rules in the tax, investment and accounting world.  Walk through an example of a start up.  Examine the once illegal (and now legal) world of hemp and how government is slowly catching up.

Presenters:

Lunch

Time: Friday 11:50AM - 12:50PM

The Cannabis Industry: A Florida Perspective

Time: Friday 12:50pm - 1:40pm Credits: 1 TB

Holly Bell, Director of Cannabis, Florida Department of Agriculture and Consumer Services

Learn the ins and outs of the business side of the medical cannabis industry in Florida.  Who are the players, how can you join the business, what are the numbers for Florida and much more.  Gain insight into the vertical integrations versus horizontal and where Florida's program is headed.

Presenters:

Break

Time: Friday 1:40pm - 1:50pm

Banking Issues Related to Florida's Cannabis Industry

Time: Friday 1:50pm - 2:40pm Credits: 1 TB

Holly Bell, Director of Cannabis, Florida Department of Agriculture and Consumer Services and Terry Neely, founder and CEO, West Coast AML

Join us to learn the facts about why banking the cannabis industry is not impossible. We will show you a road map to creating and building a secure banking program for the industry. We will discuss AML/BSA policy, cash validation, initial due diligence in on boarding all types of cannabis businesses, and much more. We will also touch on credit card processing.

Presenters:

Break

Time: Friday 2:40pm - 2:50pm

Accounting and Legal Issues Facing Medical Marijuana and Physician Practices

Time: Friday 2:50pm - 3:40pm Credits: 1 TB

Marc Egort, CPA, P.A., Principal, Marc Egort, CPA
Ben Assad Mirza, Esq., LLM, MPHA, Partner, Mirza Healthcare Law Partners

Compare and Contrast typical operating processes for physician practice and physicians in medical marijuana practice including:

• Patient Care (Telemedicine)
• Billing Insurance
• Banking relationships
• Malpractice Insurance
• Data coordination with Office of Medical Marijuana Use (OMMU)

Also, physicians working as independent contractors and Moonlighting in the Medical Marijuana space,  organizational Structure:
  
• Importance of separation
• Retail versus clinical
• Licensing

Presenters:

Break

Time: Friday 3:40pm - 3:50pm

CBD: What You Need To Know

Time: Friday 3:50pm - 4:40pm Credits: 1 TB

Eric Stevens, Director, Florida For Care and Joshua Hoffman, Chief Education Officer, PurWell

The world of CBD is directly related to the medical marijuana industry in Florida. Learn how CBD, as an industry, directly impacts the Florida cannabis market.

Presenters:

Objectives:

  • Gain a national perspective on the exploding cannabis industry
  • Learn how the cannabis industry operates in Florida
  • Explore CBD's legal and financial issues
  • Examine the business of HEMP
  • Review accounting issues facing cannabis companies in Florida
  • Learn the latest on 280E
  • Understand legal and ethical issues
  • Explore the banking industry's position in cannabis economics
  • Discover how to be a trusted advisor to cannabis clients
  • Presenters:

    • Charles Felix, CFF,CGMA,CPA

      Charles Felix is the owner/publisher of the South Florida Hospital News and the Cannabis News. In more than 4 decades of achievement, Mr. Felix has demonstrated a wide-ranging expertise that includes business strategy, corporate finance management, labor relations and negotiations, management development and leadership, commercial real estate management, brand and image development, and government...

      Read more about Charles Felix here
    • Christopher T Marrie

      Christopher has extensive experience in auditing and business consulting. Chris provides a variety of accounting and assurance services to clients ranging from individuals to small to medium size businesses and not-for-profit organizations.EducationBS Degree in Accounting and Business AdministrationYoungstown State UniversityProfessional OrganizationsMember, American Institute of Certified Public...

      Read more about Christopher T Marrie here
    • Marc Egort, CPA,MAcc

      Marc began his career over 30 years ago in a South Florida-based home health care agency where he worked as a finance and reimbursement manager. That experience led him to work for a boutique CPA firm that provided services to the home health care industry, where he practiced for 8 years and became an industry leader in Medicare home health reimbursement, cost finding, and cost reporting. In 1999...

      Read more about Marc Egort here
    • Holly Bell

      Holly is serving as Director of Cannabis for the Florida Department of Agriculture and Consumer Services. For any consulting requests, please contact our Managing Director, Dallas Rogers.She has created a turn-key package for banking the Cannabis and Hemp industries for financial institutions. For access to that information, please contact Dallas Rogers.For more than 18 years, Holly has been...

      Read more about Holly Bell here
    • Jeff Greene

      Jeff Greene is an accomplished speaker and consultant coming to the hemp industry from an economics background with a degree from Texas A&M University.Jeff has been a Florida state legislative and executive lobbyist and a member of the Florida Association of Professional Lobbyists since 2017. He was instrumental in getting both the Industrial Hemp Research bill of 2017 and Hemp Commercialization...

      Read more about Jeff Greene here
    • Amanda Barton

      Amanda Barton serves as a senior associate at Mr. Cannabis Law, a boutique law firm located in Fort Lauderdale, Florida that exclusively serves clients in the cannabis and psychedelic industries.  Amanda is an active member of the Florida Bar and is admitted to practice in all U.S. District Courts and U.S. Bankruptcy Courts within the state of Florida.  Amanda has over ten years of legal...

      Read more about Amanda Barton here
    • Eric Stevens

      Eric Stevens graduated in 2010 from the University of Miami after receiving scholarships, endowments and honors during his years studying there. He also spent a number of years managing the Universities Football Team with practice and travel. Since then he has worked in many roles related to campaigns, finance, social advocacy, transportation, testing, government relations, sports and more. He is...

      Read more about Eric Stevens here
    • Joshua Hoffman

      Josh Hoffman is a hemp/cannabis entrepreneur and educator. He works with medical professionals and healthcare practitioners educating them on the potential benefits of using hemp-derived CBD products, and how to select credible companies in the industry to work with. His experience working in medical offices with general practitioners and other healthcare specialists over a 3-year period helped...

      Read more about Joshua Hoffman here
    • Stacey Udell, CPA, ABV, CFF, CVA

      Stacey Udell, a graduate of University of Delaware, is a Partner in Gold Gerstein Group LLC, specializing in valuation, forensic accounting, economic damages, and litigation support services. In addition, Ms. Udell provides accounting and tax services for closely-held and family businesses including financial statement preparation, business and personal income tax planning and compliance, estate...

      Read more about Stacey Udell here
    • Ben Assad Mirza

      Having founded Healthcare Law Partners, LLC with his father, Ben previously worked as in-house for large and small hospital systems, physician groups, insurance plans, and other healthcare related businesses. Ben is certified in Healthcare Compliance (as a compliance officer). He holds a Masters of Public Health & Administration from Yale University; a Masters of Law (LL.M.) in Taxation...

      Read more about Ben Assad Mirza here
    • Terry M. Neeley

      Mr. Neeley is a well-respected expert in the criminal enforcement of the BSA and Money Laundering Control Act – federal money laundering statutes (18 U.S.C. §§ 1956 and 1957). He has 25+ years of firsthand experience investigating complex international drug money laundering organizations, white collar financial crimes and terrorist financing. He was a key figure in the most significant drug money...

      Read more about Terry M. Neeley here

    Presenters:

    Charles Felix, CFF,CGMA,CPA

    Charles Felix is the owner/publisher of the South Florida Hospital News and the Cannabis News. In more than 4 decades of achievement, Mr. Felix has demonstrated a wide-ranging expertise that includes business strategy, corporate finance management, labor relations and negotiations, management development and leadership, commercial real estate management, brand and image development, and government...Read more about Charles Felix here

    Christopher T Marrie

    Christopher has extensive experience in auditing and business consulting. Chris provides a variety of accounting and assurance services to clients ranging from individuals to small to medium size businesses and not-for-profit organizations.EducationBS Degree in Accounting and Business AdministrationYoungstown State UniversityProfessional OrganizationsMember, American Institute of Certified Public...Read more about Christopher T Marrie here

    Marc Egort, CPA,MAcc

    Marc began his career over 30 years ago in a South Florida-based home health care agency where he worked as a finance and reimbursement manager. That experience led him to work for a boutique CPA firm that provided services to the home health care industry, where he practiced for 8 years and became an industry leader in Medicare home health reimbursement, cost finding, and cost reporting. In 1999...Read more about Marc Egort here

    Holly Bell

    Holly is serving as Director of Cannabis for the Florida Department of Agriculture and Consumer Services. For any consulting requests, please contact our Managing Director, Dallas Rogers.She has created a turn-key package for banking the Cannabis and Hemp industries for financial institutions. For access to that information, please contact Dallas Rogers.For more than 18 years, Holly has been...Read more about Holly Bell here

    Jeff Greene

    Jeff Greene is an accomplished speaker and consultant coming to the hemp industry from an economics background with a degree from Texas A&M University.Jeff has been a Florida state legislative and executive lobbyist and a member of the Florida Association of Professional Lobbyists since 2017. He was instrumental in getting both the Industrial Hemp Research bill of 2017 and Hemp Commercialization...Read more about Jeff Greene here

    Amanda Barton

    Amanda Barton serves as a senior associate at Mr. Cannabis Law, a boutique law firm located in Fort Lauderdale, Florida that exclusively serves clients in the cannabis and psychedelic industries.  Amanda is an active member of the Florida Bar and is admitted to practice in all U.S. District Courts and U.S. Bankruptcy Courts within the state of Florida.  Amanda has over ten years of legal...Read more about Amanda Barton here

    Eric Stevens

    Eric Stevens graduated in 2010 from the University of Miami after receiving scholarships, endowments and honors during his years studying there. He also spent a number of years managing the Universities Football Team with practice and travel. Since then he has worked in many roles related to campaigns, finance, social advocacy, transportation, testing, government relations, sports and more. He is...Read more about Eric Stevens here

    Joshua Hoffman

    Josh Hoffman is a hemp/cannabis entrepreneur and educator. He works with medical professionals and healthcare practitioners educating them on the potential benefits of using hemp-derived CBD products, and how to select credible companies in the industry to work with. His experience working in medical offices with general practitioners and other healthcare specialists over a 3-year period helped...Read more about Joshua Hoffman here

    Stacey Udell, CPA, ABV, CFF, CVA

    Stacey Udell, a graduate of University of Delaware, is a Partner in Gold Gerstein Group LLC, specializing in valuation, forensic accounting, economic damages, and litigation support services. In addition, Ms. Udell provides accounting and tax services for closely-held and family businesses including financial statement preparation, business and personal income tax planning and compliance, estate...Read more about Stacey Udell here

    Ben Assad Mirza

    Having founded Healthcare Law Partners, LLC with his father, Ben previously worked as in-house for large and small hospital systems, physician groups, insurance plans, and other healthcare related businesses. Ben is certified in Healthcare Compliance (as a compliance officer). He holds a Masters of Public Health & Administration from Yale University; a Masters of Law (LL.M.) in Taxation...Read more about Ben Assad Mirza here

    Terry M. Neeley

    Mr. Neeley is a well-respected expert in the criminal enforcement of the BSA and Money Laundering Control Act – federal money laundering statutes (18 U.S.C. §§ 1956 and 1957). He has 25+ years of firsthand experience investigating complex international drug money laundering organizations, white collar financial crimes and terrorist financing. He was a key figure in the most significant drug money...Read more about Terry M. Neeley here

    Major Topics:

  • Cannabis industry overview
  • Cannabis industry in Florida
  • CBD versus HEMP
  • Accounting issue in the cannabis industry
  • Legal and ethical issues
  • Banking issues
  • Advising clients
  • Major Topics:

  • Cannabis industry overview
  • Cannabis industry in Florida
  • CBD versus HEMP
  • Accounting issue in the cannabis industry
  • Legal and ethical issues
  • Banking issues
  • Advising clients
  • Designed For:

    For CPAs and other finance professionals with an interest in Florida's cannabis industry.

    Prerequisties:

    None.  This is an introduction to the medical marijuana industry in Florida and what CPAs and other finance professional should know to remain current on this evolving market.

    Sponsor & Exhibitor Information

    Sponsor
    Cannabis New Florida