Cap table
In accounting, cap table means the register of who owns what in a company — every share issued, every option granted, the unissued pool and every SAFE or note that will become shares — shown as share counts and as percentages, issued and fully diluted. It must agree with the stock ledger, the board consents and the books.
Also called Capitalization table.
Not a rule. Corporate practice — not codified. US GAAP governs recognition, measurement and presentation, not bookkeeping mechanics. Sources
The lessons that teach this
From the free founder back-office course, taught on one company's books, with exercises to work it yourself.
- Cap tableThe cap table explained › Fully diluted versus outstandingOutstanding counts what exists; fully diluted counts what could. The same Northwind table, both ways.4 min
- Cap tableRunning a raise: data room, closing and the wireFrom term sheet to closing: the data room, the documents, the wire and the filings after — and what Northwind's back office has to have ready.8 min
For founders
The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.
- Audit-ready books before your Series AInvestors, lenders and auditors ask for the same things: accrual statements, reconciled accounts and support for every balance. How to be ready first.
- How to account for SAFEs on your balance sheetA SAFE is cash today and shares later. Why it usually sits with liabilities, how the cap and discount set conversion, and what to book at the priced round.
- Stock options, 409A valuations and vesting for startupsHow option strike prices are set by a 409A valuation, how vesting and the cliff work, and why ASC 718 makes every grant an expense on your P&L.
What it is not called
Each of these means something else. Use one here and an accountant reading the product notices.
- the shareholder list (which leaves out options and SAFEs)
- the 409A
Nearby in the catalog
No component names this concept outright. These sit in the same part of the system.
Also in Equity & financing
Defined in Lexicon. This page is generated from that document, so the two can't disagree.