Florida Cannabis Industry Conference - On Line Only
Registration is Open
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.
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.
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Friday, December 3, 2021
Time: Friday 8:00am - 8:10am
Charles Felix, Chair, FICPA Florida Cannabis Conference Committee
Cannabis Industry Update: A National Perspective
Time: Friday 8:10am - 9:00am 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.
Accounting for Cannabis
Time: Friday 9:05am - 9:55am 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.
Time: Friday 9:55AM - 10:05AM
The Business of CBD: Legal and Financial Issues
Time: Friday 10:05am - 10:55am 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.
The Business of HEMP: Funding, Financing, and Accounting
Time: Friday 11:00am - 11:50am
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 (now legal) world of hemp and how government is slowly catching up.
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.
Banking Issues Related to Florida's Cannabis Industry
Time: Friday 1:45pm - 2:35pm Credits: 1 TB
Details to come!
Time: Friday 2:35pm - 2:45pm
Accounting and Legal Issues Facing Medical Marijuana and Physician Practices
Time: Friday 2:45pm - 3:35pm Credits: 1 AA
Details to come!
Florida Cannabis Industry: Legilsative Perspectives
Time: Friday 3:40pm - 4:30pm Credits: 1 TB
Details to come!
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
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
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
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 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
Designed For:For CPAs and other finance professionals with an interest in Florida's cannabis industry.
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