Edmonton Cannabis Accounting Services

Edmonton Cannabis Accounting Services

With the recent legalization of recreational cannabis in Canada, Bomcas Canada’s accounting specialists are available to assist your cannabis / marijuana company in navigating the financial aspects of the industry—whether you are a publicly traded company or a privately held company seeking to become publicly traded.

Our accounting specialists are well-versed in the cannabis industry, and they are well-versed in the documentation that is required for both internal and external purposes in this industry.

Bomcas Canada is devoted to serving your company through the avenues listed below:

• Acquisitions and mergers
• Obtaining finance to carry out business strategies in the cannabis sector in order to expand and grow.
• Corporate governance and corporate documentation
• Requirements for quarterly financial reporting
• Management Discussion and Analysis (MD&A).
• As requested, historical financial statements are provided.
• Keeping track of and recording stock transactions.

Whether you’ve been growing medicinal marijuana for a while and are now adding recreational cannabis to your operations and want to expand, or you’re looking for new capital, Bomcas Canada will ensure that your company is in compliance with both provincial securities laws (Alberta, British Columbia, Ontario, and so on) and federal securities laws (Securities and Exchange Commission, and so on) (Canada, United States, etc.). As part of our financial statement services, our expert tax accountant is well-versed in the nuances of the cannabis sector and ensures that all accounting is done in line with International Financial Reporting Standards (IFRS).

To be deemed compliant with international accounting standards, cannabis enterprises must adhere to the International Accounting Standards (IAS) 41 Agriculture standard. Our Accountants are also knowledgeable about ensuring that the accounting for a merger or acquisition adheres to International Financial Reporting Standard 3. (IFRS 3).

Finally, at Bomcas Canada, we are aware that many cannabis businesses who are making the transition to legal recreational marijuana have never been exposed to an audit prior to making the switch to legal recreational marijuana. When it comes to performing this treatment for the first time, it might be particularly tough. Once an audit is completed, our skilled tax accountant can ensure you that it will be a pleasant process rather than a stressful one.

In terms of cost and time efficiency, Bomcas Canada will make the audit process less stressful from both a financial and administrative aspect, according to the organization.