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.

If consolidated financial statements are the desired and necessary outcome to meet stakeholder and regulatory reporting needs, then working backwards, we can chronicle the consolidation process and discuss the challenges of aggregating the balances and transactional activity from the business units. 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.