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:
- Types of digital assets
- The evolving accounting rules and considerations for digital assets
- Valuing digital assets in financial statements
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:
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Overview of ASU 2023-08, Accounting for and Disclosure of Crypto Assets
– Recognizing fair value
– Measurement
– Presentation
– Future transitions -
Common types of digital assets
– Cryptocurrencies
– Coins/tokens
– Stablecoins -
Accounting for investments and sales of cryptocurrencies
– Initial and subsequent accounting
– Receipts in exchange for goods and services -
Staff Accounting Bulletin No. 121 ("SAB 121")
– Scope
– Recognition and measurement
– Disclosure