Ask HN: Startups, Taxes, and Developer Time

I work at a startup that recently received its second round of funding.

Recently, my development team was told that we needed to figure out the number of hours spent on bug fixes versus new features for the purposes of determining expenses vs assets.

My question to the HN community: Is this normal practice? I've worked for Fortune 500s, non-profits, small businesses, and startups. I've never seen this practice done before, and honestly, the amount of time that it would take to determine this information seems prohibitively costly.