Remove Distribution Remove Issued Shares Remove SEC
article thumbnail

Crucial Things You Need To Know About Your First External Audit For Series B

YoungUpstarts

Before your financial statements can be filed with the SEC or distributed outside of your business, an external auditor must ensure your records adhere to GAAP. These are: Revenue Recognition issues. Share-based Compensation. Accounting for Income Taxes. Accounting for Income Tax.

CPA 165
article thumbnail

Convertible Note Seed Financings: Founders Beware!

Scott Edward Walker

be ahead of the stockholders) with respect to any payments or distribution of assets. Accordingly, founders must understand that, even though a convertible note is debt upon issuance, it is no different than issuing shares of common or preferred stock for purposes of securities-law compliance. 1) Accredited Investors.

Finance 64