Embark on a journey into blockchain, bitcoin and other digital assets. Gain a foundational understanding of the operation of blockchain technology, the mechanics behind bitcoin transactions and its value creation, and the broader universe of digital assets. Explore the current guidelines, challenges and best practices associated with the accounting and reporting of these assets, ensuring that CPAs are equipped to navigate the complexities of digital asset management in line with prevailing standards and regulations.
Learning Objectives
- Understand the fundamentals of blockchains and digital assets, including cryptocurrencies
- Identify the relevant U.S. GAAP guidance for measuring, recognizing, and reporting cryptocurrencies and other digital assets
- Describe the relation between cryptocurrencies and blockchain
Major Topics
- Cryptocurrencies, including Bitcoin, crypto assets, and other digital assets
- Blockchain
- NFT accounting
- FASB ASC 350 – Intangibles – Goodwill and other
