Needham, MA – November 12, 2012 – Corporate Focus, the leading cloud-based equity administration, accounting and compliance system for privately-held companies, today announced the release of Corporate Focus Version 7.2. It includes important new accounting and compliance features, such as mark-to-market expensing, quarterly true-ups and automated 100K and Rule 701 warnings, that make it even easier and faster to generate accurate ownership and option expensing reports.
“Fast-growing, privately-held companies have a unique set of equity reporting requirements as they pass through the early stages of growth when cash is limited and equity awards are offered to investors and consultants,” said Gary Levine, CEO and Founder of Corporate Focus. “We know these companies need a system and a support team that is entirely focused on their success, connecting the stakeholders in the private-company ecosystem at every stage in a company’s life-cycle.”
The latest enhancements to Corporate Focus include:
- Non-Employee Expensing using the mark-to-market method to take the necessary account expense for non-employees, as specified in ASC 505-50.
- Quarterly True-Ups that allow companies required to report on a quarterly basis to take true-up adjustments to their expense for actual vesting and forfeiture events in each reporting quarter.
- Automated 100K ISO Limit and Rule 701 Warnings that enhance existing Corporate Focus reports, making it easier to comply with IRS limitations on ISO grants and SEC exemptions for stock option plans.
These new enhancements, available to all customers next week, add to the system’s existing set of comprehensive equity administration, accounting and compliance features, including:
- Stock and option administration and reporting
- Fully-diluted capitalization tables
- Option expensing under ASC Topic 718
- Online tracking of historical documentation
- Automated printing of stock certificates and option agreements
- Self-service, direct online access for internal and external teams
Customers rely on Corporate Focus to consolidate their equity administration, accounting and reporting requirements in a single solution. “I believe that the right way to manage the equity reporting process is to have a properly structured system that can grow with your company, rather than to rely on spreadsheets and filing cabinets,” said Carol Lustenader, Co-Founder and Partner at Thomas Wood Professionals. “Ultimately, I chose Corporate Focus which is a very well-organized system that comprehensively covers our needs for capitalization tables, expensing, reporting and document tracking. Corporate Focus has the right understanding of what CFOs at privately-held companies need to best manage their equity reporting process.”
For more information about Corporate Focus Version 7.2, visit www.corporatefocus.com/product-tour or call (800) 223-8900.