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AI Summary
Manage venture accounting operations, including drafting transaction summaries, preparing journal entries, and performing mark-to-market adjustments for digital assets. Responsible for financial reconciliations, impairment analysis, and preparing disclosures for the Audit Committee and SEC checklists.
- Drafting an accounting summary of key terms in new venture transaction agreements as they are entered into by Coinbase based on inputs defined by Coinbase accounting policies
- Researching the launch status of tokens and documenting findings
- Preparing supporting documentation on similarities/differences for follow on investments versus initial investments
- Reconciliation of venture transactions on USDC/USDT to Ventures inventory outflows
- Preparing draft journal entries, including realized gains/losses on investment exits, exercises of warrants, token launches, impairments, transactions in USDC
- Preparing a cash flow and liquidity tracker to document remaining capital commitments
- Reconciliation of Ventures investment GL account balances between ledger and supporting workbooks
- Preparing variance analyses on balance sheet and income statement accounts used for Ventures transactions and drafting variance explanations
- Preparing Ventures bonus pool calculations
- Preparing classification documentation and vesting schedules based on Coinbase agreements for tokens launched during the period
- Preparing gain/loss calculation for reclassification of vested tokens from Digital Assets Receivable to Digital Assets
- Preparing calculation of staking revenues, voting rewards earned, token disposals, and token lending activities
- Obtaining token prices for Ventures tokens from external sources
- Calculating mark-to-market (MTM) adjustments for both Digital Assets and Digital Assets Receivables using fair value based on token prices at the end of month
- Reconciliation of quantities of principal token balances between the Coinbase Legal Tracker and the Digital Asset workbook
- Preparing draft journal entries for token sales, staking income, voting
- rewards earned, fair value adjustments, interest income, and gains/losses on vested units
- Preparing Digital Asset cash flow and supporting documentation for Coinbase Global (CBG) legal entity
- Reconciliation of Ventures investment GL account balances between ledger and supporting workbooks
- Performing impairment analysis for investments, including:
- Preparing a scoping file based on the posting threshold determined by Coinbase
- Aggregating various external information to identify critical news that may trigger impairment
- For any investments requiring impairment, preparing an impairment analysis and valuation summary
- Preparing draft impairment journal entries
- Preparing draft ventures investment disclosures
- Preparing support for slides for quarterly Audit Committee decks, including summarizing total investments, new investments and updates on investments during each quarter
- Preparing updates to SEC Checklist for questions regarding ventures investments
- Reconciliation of Coinbase digital asset investment balances to Blockchain for Ventures tokens
- Preparing summary of unvested tokens held with restriction
- Preparing gain/loss summary based on previously calculated MTM adjustments
- Reconciliation of gain/loss summary to Ventures investment GL account balances
- Performing trading volume analysis using third party sources to assess fair value levelling for the Ventures token portfolio
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