The unexpected development and assurgent nature of Digital Assets in business transactions have created challenges for accountants and auditors. This self-study webinar will explain the evolving accounting rules and auditing complexities for proper treatment of digital assets in financial statements. An expert will help you sort through the confusion and discuss the following:
- The evolving accounting rules and considerations for digital assets
- Valuing digital assets in financial statements
- Types of digital assets
To provide accountants and auditors with the knowledge that will allow them to establish how digital assets will need to be accounted for and audited in financial statements.
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Cryptocurrencies
– Investing
– Sales
– Receipts
– Lending and borrowing - Non-Fungible Tokens (NFTs)
- Stablecoin Holdings
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SEC Staff Accounting Bulletin
– Scope
– Recognition and measurement
– Disclosure
– Transition -
FASB Proposed ASU
– Accounting for and disclosure of cryptic assets
– FASB comment letter themes
• Recognize where cryptocurrency is recorded on the balance sheet
• Identify subsequent accounting treatment of crypto assets
• Identify how many criterion crypto assets need to meet to be accounted for under ASU 2023-08
• Recognize where gains or losses on crypto assets are recorded on the income statement
• Recognize where proceeds from crypto asset sales are recorded on the statement of cash flow
• Identify the guidance provided in SAB 121
• Recognize the effective date of ASU 2023-08
• Identify common types of crypto assets
• Recognize characteristics of stablecoins