Next Generation Financial Consolidations for the Cannabis Industry 3
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 shi 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.
Introduction
