How to account for SAFE agreements in Canadian startups?
Properly recognizing and recording Simple Agreement for Future Equity (SAFE) agreements is crucial for Canadian startups to ensure accurate…
What are the bookkeeping requirements for accelerator programs in Canada?
Ensure accurate financial record-keeping by establishing clear procedures for tracking income, expenses, and investments from day one. Proper…
How to handle accounting for pivot costs in Canadian startups?
Implementing a rigorous pivot cost accounting system enables startups to allocate expenses precisely during strategic shifts, minimizing…
How to account for founder equity in Canada?
Start by establishing clear ownership percentages among founders based on each individual’s contribution, expertise, and resources. This…
How to handle accounting for MVP development costs in Canada?
Start by classifying MVP development costs as research and development expenses when they do not create identifiable assets. According to…
What are the tax implications of convertible notes in Canada?
Investors and startups should recognize that issuing or converting a convertible note triggers specific Canadian tax rules that can…
What are the tax implications of stock option plans in Canada?
When you’re using stock option plans in Canada, understanding the specific tax responsibilities can have a big impact on your net gains.…
How to handle a notice of assessment in Canada?
If you receive a Notice of Assessment (NOA) from the Canada Revenue Agency (CRA), addressing it promptly can prevent additional penalties or…
What is the role of audit committees in Canadian organizations?
In Canadian organizations, audit committees play a pivotal role in maintaining stakeholder confidence by providing independent oversight of…
How to conduct an internal financial audit for a Canadian business?
Begin your internal audit process by clearly defining specific objectives tailored to your company’s operations and compliance…