The NYSIA monthly meeting for September consisted of a boot camp for startups. I was able to capture each of the segments on video and this session was around the accounting aspects of starting a business. Mike Lopez, from Amper Politziner, and Mattia begins by explaining the importance of looking at the eventual exit and making sure that the transactions throughout the business are completed correctly.

Mike looks at the tax implications of the different business entity types and a variety of accounting issues including revenue recognition, software development costs and stock-based compensation. As a former accountant myself, I agree with Mike's comments about keeping a good set of books. It will help you throughout your business and will keep the overall accounting costs down.