Finance and Accounting information for Entrepreneurs

EisnerAmper Partner Amar Bhatkhande recently participated in a finance and accounting panel discussion during a virtual TiE Silicon Valley networking event designed to connect with the Silicon Valley chapters’ charter members. The panelists broadly outlined the major areas of focus for entrepreneurs in relation to the financing and accounting functions of their startups (see also, Entrepreneur Resource Hub). The discussion highlighted the differences between the key considerations for companies that are in the pre-revenue generation stage and for those that are in early stages of revenue generation.

Panelists included:

  • Amar Bhatkhande, Partner, EisnerAmper
  • Kamal Anand, Board Member, TiE Silicon
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Accountants, Lawmakers Urge Rules on Crypto Accounting

Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for bitcoin and other cryptocurrency assets.

The assets, for which there are no binding U.S. accounting requirements, have drawn regulators’ interest after sharp swings in recent months and investments by companies such as electric-car maker

Tesla Inc.

and payment provider Square Inc. Bitcoin, which rose to a record of $63,381 in April, has roughly halved in value since then, mirroring volatility in other digital currency assets.

The Securities and Exchange Commission, which oversees U.S. securities markets, is considering new regulation for

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Banks Releasing Loan Reserves Face Tricky Accounting Estimates as Economy Improves

Banks and other financial institutions are devising how to release large loan reserves under an accounting rule that complicates the task of calculating them.

To do so, executives at companies including

JPMorgan Chase

& Co. and

Citizens Financial Group Inc.

are scrutinizing metrics such as credit quality and loan growth to help estimate the level of future reserves amid the continuing economic uncertainty.

Many lenders bulked up their loan reserves this time last year to prepare for potential defaults during the onset of the pandemic, cutting into profits. Banks’ provisions for credit losses totaled $61.91 billion in the second quarter

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