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How accounting practices can impact cannabis industry deals

(Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the cannabis industry. Kellan McConnell is an audit partner in Marcum’s Costa Mesa, California, office.)

As the cannabis industry has begun to mature, there has been a surge in mergers and acquisitions, joint ventures, partnerships and other combinations.

Unfortunately, many deals are being held up by incomplete and/or inaccurate financial statements.

Failure to have the accounting processes and procedures in place necessary to accurately and timely capture all of a company’s operations on a day-to-day basis causes delays in closing

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