August 24, 2021   //   Business Consulting   //   By PKF Mueller Solutions

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By: Sage Intacct

The rapidly developing Cannabis industry brings with it a large number of unique financial management challenges, not the least of which is the financial consolidation process. Whether it’s bringing the data together or distributing the financial results broadly, the fast pace of this evolving industry results in some very challenging intricacies related to financial consolidations.

The pace and complexity of today’s business environment is driving financial executives to shift their financial management solution to a system of intelligence, rather than a system of record, a critical part of which is access to continuous, accurate, consolidated financial reporting.

If consolidated financial reporting is the desired and necessary outcome to meet stakeholder and regulatory reporting needs, then working backwards, we can analyze the consolidation process and discuss the challenges of aggregating the balances and transactional activity from individual business entities. This will set the stage for discussing an approach for improving not only the financial consolidation process but also augment the analytical and real-time reporting capabilities of the finance function.

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For more information please contact:

Ivona Gal, CPA

Client Advisory Services Supervisor

Sage Intacct Certified Specialist

igal@pkfmueller.com

+1 708 745 3506