"High" profits from accounting for cannabis plant industry /

On April 4, 2014, Tweed Marijuana Inc. ("Tweed") became the first federally regulated producer of cannabis in North America to have its shares traded publicly. Initially listed on the TSX Venture Exchange in Toronto, Tweed would be the first of a spate of cannabis producers to list their s...

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Bibliographic Details
Main Authors:	Jagolinzer, Alan (Author), Miller, Michael, active 2017 (Author), Looi, Steven (Author)
Format:	eBook
Language:	English
Published:	London : University of Cambridge, Judge Business School, 2017.
Series:	SAGE Knowledge. Cases.
Subjects:	Tweed Marijuana Inc. > Finance. Marijuana industry > North America > Finance > Case studies. Marijuana industry > Canada > Finance > Case studies. Stock companies > Finance > Case studies. Finance Stock companies > Finance Canada North America Electronic books. Case studies Case studies. Études de cas.
Online Access:	Connect to the full text of this electronic book

Description
Summary:	On April 4, 2014, Tweed Marijuana Inc. ("Tweed") became the first federally regulated producer of cannabis in North America to have its shares traded publicly. Initially listed on the TSX Venture Exchange in Toronto, Tweed would be the first of a spate of cannabis producers to list their shares on Canadian exchanges, a decision that would require these companies to report their public financial statements under IFRS. As retail and institutional investors both began pouring investments into these cannabis companies, several oddities in these companies' public financial statements became apparent. Companies were routinely recording and reporting gross margins in excess of 100%, while companies with no revenues whatsoever were nonetheless reporting positive net incomes.This case study looks at how the application of IFRS, specifically IAS 2 Inventories and IAS 41 Agriculture, has raised questions about financial reporting in one of the world's fastest growing industries. This case aims to guide students through the 'seed-to-sale' reporting process, and ultimately, what key decisions go into deciding the fair value of a crop and how this is reflected on the financial statements.
Item Description:	Originally Published InJagolinzer, A., Miller, M., & Looi, S. (2017). "High" profits from accounting for cannabis plant industry. Cambridge: University of Cambridge, Judge Business School.
Physical Description:	1 online resource : illustrations.
ISBN:	9781526460790 1526460793