Medical Marijuana Inc (MJNA)

[Ecostate]

GAAP compliance explained

Being GAAP compliant essentially means that you have maintained financial records in a way that allows investors, lending institutions, prospective buyers, etc. to make a sound decision regarding your company. For the average entrepreneur or small business owner with a terrific idea or great product, GAAP will not even be on the radar. As soon as you need some financing for expansion or are approached by a potential buyer, however, you will need to be compliant.