Accounting for Digital Assets Webinar
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Overview
The unexpected development and assurgent nature of Digital Assets in business transactions have created challenges for accountants and auditors. This webinar will explain the evolving accounting rules for proper treatment of digital assets in financial statements. An expert will help you sort through the confusion and discuss the following:
- Transitioning from SAB 121 to SAB 122
- The evolving accounting rules and considerations for digital assets
- Valuing digital assets in financial statements
SPEAKER:
Kylie Winthrop, Lead Manager, Digital Asset Team, Deloitte
Objective
To provide accountants and auditors with the knowledge of the evolving accounting rules and complexities governing the use of digital assets and how they will be accounted for within financial statements.
Emphasis
- Overview of ASU 2023-08, Accounting for and Disclosure of Crypto Assets
– Recognizing fair value
– Measurement and scope
– Statements of financial position, income, and cash flows
– Key provisions
– Presentation
– Future transitions - SEC Update & SAB 122
– Crypto task force
– SEC statements
– Accounting implications
– Disclosures - AICPA Digital Assets Practice Aid
- Revenue Recognition Considerations
– Determining scope
– ASC 606 Five Step Model
– Identifying performance obligations
– Principal vs. Agent
– Nonfungible token (NFT) Transactions
– Noncash consideration
– Mining
– Staking - Crypto Lending & Borrowing
This course is included in the following passes:
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View PassesPrerequisite
None
Level of Knowledge
Overview
CPE Credits
1
Hour
NASBA Field of Study
Accounting