Accounting for Digital Assets under U.S. GAAP - Part II

Overview

Guidance on how to account for digital assets

Though the use of digital assets is rapidly expanding, accounting guidance has not kept pace. As a result, accounting for digital assets can feel shaky.

The AICPA can help

This course reviews the AICPA practice aid on accounting and auditing for digital assets so you can understand what to do when you or your client accounts for stablecoins.

It will explain how to account for other transactions and investments involving crypto and digital assets under U.S. GAAP.

You'll also learn more about what the AICPA is doing to lend clarity and guidance to this increasingly important field.

Learn how you can add more value

Whether you're a CPA with attest clients or an industry accountant responsible for corporate accounting policy, this guidance will give you a clear path to help your clients or firm by applying the most up-to-date accounting policy.

Through detailed examples and use cases, you can see real-world application of this guidance.

Highlights

Key Topics

• Guidance on how to account for digital assets
• Fair value of digital assets under FASB ASC 820
• Accounting for stablecoins
• Specialized industry practice for digital asset accounting

Prerequisites

None.

Designed For

Who Will Benefit

• Public accounting professionals
• Management accountants
• Consultants with financial clients
• Financial services professionals

Objectives

Learning Outcomes

• Recall guidance on how to account for digital assets under U.S. generally accepted accounting principles (GAAP).
• Determine how reporting entities that apply specialized industry guidance should account for their involvement with digital assets.
• Identify factors that affect the fair value measurement of digital assets under FASB ASC 820.
• Determine how stablecoins are accounted for under GAAP.