Enterprise Fintech: An Accounting & Tax Update
Presentation Date & Time:
October 16, 2018 - 3:45 PM
Presenter Information:
Jagruti Solanki
Assurance Senior Manager - Technology & Blockchain
Jason Bierly
Tax Manager
Organization: Aprio, LLP
Presentation Description: There's a lot happening in the disruptive FinTech space with the evolution of Blockchain and it’s applications such as cryptocurrienes and tokens. Organizations in the FinTech using Blockchain technology have special accounting and tax considerations that are unique to their business. We will highlight some use cases and discuss few key implications that companies need to consider:
- What is the current state of companies using Blockchain technology ?
- Our perspective on blockchain impacting business and accounting industry.
- What are the challenges business are facing in adopting this technology?
- What are some of the key accounting considerations if your Company is using Blockchain as a solution?
- What are the cryptocurrency and token tax, accounting, and internal control considerations?
- What is the current state of integration of the distributed ledger with an existing ERP / Accounting software?
Jagruti Solanki Biography:
Jagruti is an assurance senior manager at Aprio. Prior to joining Aprio, Jagruti worked as an auditor at Maganlal Thacker & Co (a member company of Alliott Group, UK) a Chartered Accountancy firm based in Oman.
She has worked for the firm since November 2007, specializing in manufacturing and technology, including fintech (SaaS, software, blockchain). Jagruti is one of the leaders in the firm’s blockchain practice with a focus on accounting and auditing.
She has dealt with issues in revenue recognition, business combinations, consolidations, variable interest entities, capitalization of intangible assets and software development costs, fair value accounting, discontinued operations, troubled debt restructure, share-based compensation, alternative financial instruments including hedge funds and other derivatives, and audits of cryptocurrencies/blockchain. She is specifically focused on working with software companies and assisting them with assessing the impact of the new revenue recognition standard. Additionally, she has experience in risk assessment, identifying and testing internal controls over financial reporting, researching complex technical accounting matters and drafting technical accounting memos. Jagruti writes articles, whitepapers and blogs around revenue recognition and regularly conducts webinars and implements case studies with strategic revenue recognition partners.
Jagruti received her Bachelors of Commerce in Advanced Accounting and Post-Graduate Diploma in Finance from India. She graduated with her MBA in Management Accounting from Iowa. She holds a CPA in the State of Georgia.
Jagruti’s professional affiliations include:
- American Institute of Certified Public Accountants
- Georgia Society of Certified Public Accountants
- The Institute of Internal Auditors
Jason Bierly Biography:
Jason is a tax manager at Aprio, LLP. He has more than six years of public accounting experience providing tax compliance, ASC 740 (FAS 109) and consulting services to privately-held companies. He works with companies ranging from pre-revenue startups to those with over $500 million in revenue. Jason’s clients include companies in the technology, biosciences, manufacturing and service industries with an expertise in fintech and SaaS. He also has experience working with clients on the blockchain and consulting on initial coin offerings (ICO).
Jason has knowledge in the areas of tax compliance and consulting. He has led and managed his clients’ tax compliance process while providing businesses with tax expertise and value-added advice on topics including tax credits and business tax structuring. Jason has extensive experience with C Corporations, consolidated returns, various pass-through entities and companies operating in multiple jurisdictions. Jason has experience working in the corporate tax department of a publicly-traded global manufacturing company. While managing all domestic tax matters for the company, Jason consulted with the business units on federal and state tax issues, including property tax and sales tax, and coordinated tax compliance filings. He was also heavily involved in the quarterly income tax provisions and tax accounting journal entries. Jason graduated from the University of Alabama with a BBA in Accounting and a Masters of Accountancy. He is a Certified Public Accountant in Georgia and a member of the American Institute of Certified Public Accountants.
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