Any opinions on joining the cannabis industry? Generally these companies are still pretty small so there would probably be a lot of responsibility, but I only see this new industry growing as more and more states legalize marajuana.

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So you wanna make that 'trip'?

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It better be lit

On a more serious note, I’d imagine a lot of these companies are growing. A couple of years ago Joe Montana invested $75 million into one. Even with the high amounts of government taxation, some cannabis clubs are making a killing. From an accounting perspective, I’d imagine things are probably super simple. Their accounting departments are probably pretty small and they’re probably asked to take care of a variety of accounting tasks.

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These companies have been seeing massive growth and M&A activity over the last 2 years. EY has multiple audit clients in this industry specifically our of the Denver office I know of. Just because the companies cant be listed in the USA, we've seen them go public in canada and make bank, and also seen them be acquired by the big canadian companies.

So yeah, if you have an interest, it's not a bad choice to make.

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Lots of great startups who you may be able to get in with pre IPO!

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Once federally legalized B4 and national firms will cannibalize these small firms that are willing to take accept the risk of these engagements.

Do you think the tobacco industry is interesting? Because that’s what this will essentially turn into from a compliance standpoint once federally legalized.

Fair enough. For what it’s worth some of my clients have started these “ventures” and their staff accountants are total space cadets. Definitely joined for their “love of the industry”.

I think the need for good accountants is there but how lucrative it would ultimately be, I don’t know. It doesn’t seem like overly complex work to me.

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