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University of Cambridge Teaches Accounting Case on Weed

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One of the world’s top business schools is teaching the world’s first-ever business case study on cannabis.

Cambridge Judge Business School of the University of Cambridge on Jan. 29 announced that it will be launching the first-of-its-kind marijuana-focused accounting course “High” Profits From Accounting For Cannabis Plant Inventory.

The innovative course resulted from a collaboration among the university and White Sheep Corp, a cannabis company based in Toronto. It is co-authored by Cambridge Professor of Financial Accounting, Alan Jagolinzer, Director of Finance at White Sheep Corp Michael Miller and Steven Looi, White Sheep’s Director of Origination.

During the class, financial reporting of the world’s marijuana industries will be closely examined, along with the “fair value” of cannabis crops will be the key decisions will be analyzed.

“As the first accounting case to directly address the cannabis industry, this is a strong signal to the academic community that it is time to build cannabis into the curricula,” Michael Miller, Director of Finance at White Sheep Corp, said in a statement published on Cambridge Judge Business School website. “The issues explored in the case will continue to emerge as new jurisdictions and new companies enter the industry. We aim to help investors understand the income statements and make better informed capital allocation choices.”

Even though the class is billed as the first to focus on accounting in weed industry, it’s not the first institution that pioneered education in marijuana. In fact, a Canadian college already offered a marijuana cultivation and distribution class while Michigan’s Northern Michigan University started the first a four-year undergraduate degree focusing on marijuana’s physiology.

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Cannasure: Weed Business Insurance Program

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CLEVELAND — A cannabis insurance agent and wholesale broker based in Cleveland, Ohio, has launched a new comprehensive program specifically for weed businesses. Cannasure Insurance Service is working to expand an insurance program to every part of the country that has legalized marijuana. The most recent approach covers businesses, landlords and testing labs of both medical and recreational marijuana.

That’s not it. The program also covers cannabis cultivation and marijuana-related events too.

A marijuana festival is relocated or canceled? Products gone missing during the event? Regular insurance coverages won’t take care of this, but this company does.

The program has been taking submissions since Feb. 1.

“The cannabis industry is evolving at an unprecedented rate and because of this, so are the industry-specific risk factors and operational demands,” Patrick McManamon, CEO of Cannasure Insurance Services, said in a press release.

Cannasure has been one of the leading insurance providers in the marijuana industry since 2010.

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