Accounting for Digital Assets Under U.S. GAAP

Overview

Your client got paid in Bitcoin. Now what?

Are crypto assets financial assets, a form of currency.or something else? Although the use of crypto assets (and the number of different types of crypto assets) is rapidly expanding, accounting guidance has not kept pace.

This self-study CPE course will help you answer the question of what to do when your client is paid in Bitcoin, as well help you understand how to account for other transactions and investments involving crypto and digital assets under U.S. GAAP.

Crypto asset accounting shouldn't be cryptic.

With easy-to-digest key learnings and applicable real-world examples, this course will help you assess the rights and obligations associated with digital asset holdings, select the correct accounting treatment, apply relevant SEC rules and FASB standards, and more.

You'll also learn what the AICPA is doing to lend clarity, and guidance, to this murky but important field.

Ratings and reviews

Highlights

Key Topics

• Overview of digital assets
• Accounting for investments in crypto assets like Bitcoin
• Accounting for digital assets received as consideration from a contract with a customer
• Applying the intangible asset accounting model to digital asset holdings
• Accounting for the sale of digital assets
• Factors in determining when to recognize ownership of digital assets

Prerequisites

None

Designed For

Who Will Benefit

• Accounting and finance professionals

Objectives

Learning Outcomes

• Describe how U.S. GAAP applies to investments and transactions involving crypto assets.
• Identify factors in the analysis of digital asset ownership.
• Describe the efforts of the AICPA to provide further guidance on digital asset accounting under GAAP.