Sean Prince


    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level

  • CPE Credit


  • Course acronym

  • Prerequisites

  • Course duration

    1 Hour

Blockchain for Digital Assets: Accounting for Digital Assets Under U.S. GAAP

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. 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.
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Topics discussed

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

Learning objectives

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.

Who will it benefit?

Accounting and finance professionals