If your company grants stock options or equity awards, ASC 718 determines how that compensation hits your financial statements. Here's what founders need to know before their first audit.

For funds whose portfolios consist primarily of illiquid, privately-held investments, ASC 820 compliance is one of the most complex and judgment-intensive areas of financial reporting. The valuation of a single portfolio company can require multiple methodologies, significant assumptions about future outcomes, and detailed documentation that satisfies auditors, LPs, and regulators.