Cryptocurrencies & Blockchain Technology: The Impact on Finance & Accounting Webinar
Overview
Global cryptocurrency use has seen substantial growth as both new users and new countries all over the world continue to join the market. As crypto use (such as Bitcoin) continues to grow, the need for reliable blockchain technology is vital to ensuring safety and reliable storage. This webinar will explain in detail:
- The accounting of crypto assets in accordance with US GAAP and IFRS
- How to use blockchain technology to accurately and chronologically keep track of transactions without central bookkeeping
- The impact of cryptocurrencies and blockchain technology in finance and accounting
- Audit considerations and risk assessments
SPEAKERS:
Mark DiMichael, Partner, Digital Asset Practice Leader, Citrin Cooperman
Zohaib Qamar, Partner, Professional Standards Group, Citrin Cooperman
Objective
To learn the accounting rules regarding cryptocurrencies and the new blockchain technology supporting them, and how to account for crypto assets in financial statements.
Emphasis
- Overview of Bitcoin & Crypto Assets
– Origins
– Eliminating or reducing third parties
– Terminology
– How they work - Storage
- Token Examples
- Other Digital Asset Categories
- Making Money with Crypto Assets
- Basis Tracking/Accounting
– Transaction outputs
– Accounting programs and tracking trades - Accounting for Crypto Assets
– Pre and post ASU 2023-08
– Industry specific GAAP - Disclosure Considerations
- US GAAP vs. IFRS
- Accounting for Different Crypto Assets
- Audit Considerations
– Custody consideration
– Valuation consideration - Examples of Disclosures
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