The Knowledge-Based Industries (“KBI”) team at Hughes Pittman & Gupton, LLP (“HPG”) serves intellectual property-based companies, their founders, executives, and investors from start-up to exit. We work with companies in life sciences and information technology, including biopharmaceutical, medical device hardware, software, and services.
The KBI team understands venture-backed and owner-managed businesses and their unique needs during pre-revenue, grant pursuit, funding and commercialization stages. Our experienced team works to balance the expectations and rewards of the founders and employees with the expectations of the venture investors. The KBI team:
- understands strategic funding plans and milestones by cycle
- helps minimize capital requirements (burn)
- advises how to extend the timeline (runway)
- represents a network of professionals including HR, finance, consultants and advisors
- develops practical tools that we provide (pro bono) to clients
Our tools include:
- QuickBooks chart of accounts for software and life science companies
- Excel forecast models
- Internal control documentation tool
- Stock compensation template for compliance with FAS 123(R)
- Integrated income tax provision template
- 409a valuation documentation tool
Our approach allows the founding team to provide sophisticated internal financial statements and forecasts to potential investors or when recruiting key personnel during the period that they cannot afford to hire an internal finance team.
Knowledge-Based Industry Services
The KBI team provides a host of services within a business model of listening and partnering with each client so that we can be cost effective and add value at the same time. Our goal is to be the trusted accounting firm for the founders, executives, and investors so that when they start, join, or invest in their next company, we will be right there with them.
- Organizational Services: Based on substantial experience, we guide the founding team through organizational choices that maximize value today and anticipate the requirements of future investors.
- Audit and Review Services: We understand the complex and ever-changing accounting pronouncements such as revenue recognition and stock compensation
that face many of our fast growing companies. Our partners are thought leaders on key topics like the North Carolina Qualified Business Venture Tax Credit Program (“QBV”).
- Corporate Tax: HPG provides comprehensive corporate tax services including tax planning, compliance and tax provision services that match our clients’ needs in domestic and international jurisdictions. We have a qualified team that understands the research and development and state credits, multi-state, and other income tax planning and compliance issues. HPG has partnered with many Big 4 and national firms to undertake tax compliance and consulting services in order for them to maintain their independence and also to act as an outsourced tax department to aid in compliance with SOX and FIN 48 and in achieving more cost effective resources.
- Government Grants and Contract Services: HPG provides financial and compliance audits for entities receiving federal government funding. A dedicated team of government accounting specialists, who understand the complex standards and regulations of government grants and contracts, will guide you through the fiduciary and compliance reporting requirements.