Simone Cimiluca-Radzins, CPA
Business and Finance Instructor
About the Instructor
Simone’s expertise is in business strategy, finance, risk management, and business process improvement. Simone has helped take companies public, performed external, internal, and forensic audits, and has improved business operations for hundreds of clients. With a background in Big 4 public accounting and international consulting for Fortune 500 companies, Simone has lived and worked in Spain and France and has assisted clients throughout Latin America, Western and Northern Europe, and the Asia Pacific region.
Simone is an active member of the cannabis business community in Southern California and has been working in the cannabis industry since 2014. She is the founder of LIV Consulting, a CPA and management consulting firm and the CEO of Kalogia, an online network that connects cannabis professionals. She has spoken about cannabis banking and 280E issues on National Public Radio (NPR); has lectured on the US cannabis economy in Prague and Costa Rica, and has given multiple talks at 420 College, Cannabis Finance Bootcamp, Women Grow and the University of Oregon.
Simone holds an active CPA certificate from the State of Oregon.
Increase your cash flow, by managing your business like a CFO.
80% of startups fail, and operating in the cannabis industry is even harder. With IRC 280E and an all cash business, cannabis operators are struggling to sustain profitable success.
This course is designed to teach you the tools to help you navigate the complexities of the industry and start increasing your cash flow.
In this course you will learn:
- How to understand financial statements
- What to be analyzing when you're reviewing your financials
- Importance of GAAP (Generally Accepted Accounting Principles)
- What 280E is and how it impacts your business
- 280E and Cost Saving Strategies
- How to organize your business to minimize 280E Exposure
- How to create an internal control environment for your business
- What the effective cash controls are which can mitigate your risk
- What the effective inventory controls are that can keep your inventory safe
- The importance of ethics and a corporate governance framework in your organization
- Cannabis Regulatory Overview
You will have instant access to the following downloadable tools:
- Sample chart of accounts for a management company, cultivation, manufacturing, distribution, and retail company.
- 280E Allocation worksheet used to maximize
- Year end accounting checklist
- 100+ Supply Chain KPIS
- Internal controls for cash and inventory that you can implement today
What's the value?
- By implementing these tools effectively, you should see an increase in your cash flow
- $300 is one hour of my time...and will get you the same results (if applied) as working with me for more than +20 plus hours.
What you will learn
- Understanding the Income Statement
- The Income Statement
- Sales and Revenue, let's make that money!
- What is revenue and what questions should you be asking every week?
- Cost of Goods Sold (COGS)
- Defining Cost of Goods Sold
- Balance Sheet
- Assets = Liabilities + Equity
- More money, more problems? Only if you can't manage your cash.
- Statement of Cash Flows
- It's all about that depreciation!
- Transaction types (this gets into the nitty gritty of it all)
- Debits and Credits
- Bringing it all together
- Is your idea as financially great as you think?
- Break Even Analysis
- Paying the IRS
- It's not just April 15th you should be considering
- Year End 280E Accounting Checklist
- Session Recap
- Cash Basis Versus Accrual Basis
- How 280E Applies to your business
- Mary's Case Example - Part 1
- Determining Inventory
- Mary's Case Example - Part 2
- Freight in and Freight Out
- Mary's Case Example - Part 3
- The Importance of Cost of Goods Sold
- Mary's Case Example -4
- The Tax Code (263A and 471)
- Using the Chart of Accounts to Minimize 280E Tax
- Excise Taxes
- Best Practices to Ensure COGS is Maximized
- 280E Allocation worksheet
- Year End 280E Accounting Checklist