Accounting for, & Auditing of, Digital Assets Webinar (1 Hour)

Overview: 

The unexpected development and assurgent nature of Digital Assets in business transactions have created challenges for accountants and auditors. This webinar will explain the evolving accounting rules and auditing complexities for proper treatment of digital assets in financial statements. An expert will help you sort through the confusion and discuss the following:  

  • The evolving accounting rules for digital assets
  • Valuing digital assets in financial statements
  • Auditing of digital assets
Objective: 

To provide accountants and auditors with the knowledge that will allow them to establish how digital assets will need to be accounted for and audited in financial statements.

Emphasis: 
  • Cryptocurrencies
  • Blockchain
  • Trends
  • Decentralized Finance (DEFI)
  • Forms of Digital Assets
    – Stablecoins
    – Nonrefundable Tokens (NFTs)
  • Regulation
  • Enforcement & Litigation
  • Staff Accounting Bulletin #121 (SAB 121)
    – Scope
    – Recognition and measurement
    – Disclosure
  • FASB Exposure Draft on Crypto Asset Accounting
    – Fair value accounting
    – Additional disclosures
  • Auditing Considerations & Complexities
    – Existence and rights/obligations of digital asset holdings
    – Valuation
    – Revenue streams
    – Regulatory uncertainty
  • Accounting Software & Bookkeeping
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
1.00
NASBA Field of Study: 
Accounting