Understand how to explain bitcoin payments to clients and how to account for other transactions and investments involving crypto and digital assets under U.S. GAAP.
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.
Major 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
