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Date / Time / Location

Tuesday, June 18, 2019
8:30 AM - 4:30 PM
Registration: 8:00 AM

The Wilshire Grand Hotel
350 Pleasant Valley Way
West Orange, NJ 07052

CPE Credits

  • 6.00 CPE Credits in AA
  • 2.00 CPE Credits in TX


  • $279.00 - Member
  • $379.00 - Non Member
New Location - The Wilshire Grand, W Orange
The first part of this program is a must to keep CPAs, accountants, and financial professionals on top of the changes they need to know to be effective. The course authors evaluate and emphasize those changes with broad application and develop detailed practical guidance and illustrations.

The second part will cover accounting, auditing and tax considerations specific to the Cannabis Industry. States have been passing legislation that legalized cannabis for medicinal and recreational use, and the producers and retailers in this industry have been growing. Accounting and financial professionals are not tasked with navigating the often contrary state and federal laws. With cannabis being classified as a Schedule 1 controlled substance under the Federal Controlled Substances Act of 1970 and subject to federal prosecution, can CPAs offer services to clients that operate in this industry? If the CPA does offer services, what are the major tax issues (federal and state) that impact this industry? This course will answer these questions as well as provide the guidance that accounting professionals need to know to offer services in the cannabis industry.

Designed For

Accounting or financial professional that may work directly or indirectly in the cannabis industry or is interested in learning more about how this recent state legislation is impacting the accounting profession.


  • Apply the provisions of recently-issued accounting, auditing, preparation, compilation, and review pronouncements
  • Understand the risks of taking on a client in the cannabis industry
  • Recognize state reporting rules and federal reporting rules
  • Differentiate between the federal and state filing requirements
  • Understand IRC Section 280E and what deductions are and not allowed to a cannabis business
  • Apply various state sales and excise taxes that apply to the sale of cannabis
  • Recognize why banks won’t allow cannabis based businesses to open a bank account
  • Understand the treatment of revenue and inventory, audit considerations and sustainability reporting issues


  • Relevant accounting standards updates to the FASB codification
  • Audit services issues
  • Preparation, compilation and review issues
  • Types of cannabis related businesses
  • Risk considerations for services offered in the cannabis industry
  • Recognizing what costs are and not considered costs of sales under IRC Section 280E
  • Distinguish if the entity conducts a business separate from the cannabis sales that may allow some deductions aside from cost of sales
  • State and federal tax differences
  • Cash based business audit considerations
  • Financial reporting considerations

Course Level



Basic accounting, auditing, and tax experience.

Advance Preparation


Additional Notes

Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.
Event Cancelled

We are sorry to inform you but this event has been cancelled.

Edward Zollars

Edward K. Zollars, CPA
Tax and Technology Partner
Thomas Zollars & Lynch, Ltd.

Edward K. Zollars, CPA, is in public practice in Phoenix, Arizona, as a partner with the firm of Thomas, Zollars & Lynch, Ltd. He has been in practice for over 25 years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in producing the Current Federal Tax Development Update podcast and website, dealing with current tax issues. He has been a member of AICPA Tax Division Committees, dealing with tax and technology issues, and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop’s Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Along with writing, editing, and presenting courses for Nichols Patrick CPE, Inc., for over the past 10 years, Ed has written articles published in Practical Tax Strategies and The Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups and served as systems operator on the AICPA’s Accountants Forum in the mid-1990s. Ed has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

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Event Cancelled

We are sorry to inform you but this event has been cancelled.