Category: Financial Reporting

In the past, crypto assets were treated as indefinite-lived intangible assets, subject only to impairment and not marked to market. However, with the issuance of FASB ASU 2023-08, certain digital assets are now allowed to be reported at fair value. What is a Statement of Digital Assets? Bridging onchain holdings with US GAAP SoDA Development Read more

The diverse range of businesses and individuals in the crypto space, including exchanges, miners, investment funds, VCs, and others, underscores the growing importance of specialized crypto accounting services. These services are crucial for ensuring accurate financial reporting, tax compliance, and effective management of crypto-related activities. Here are our top five tips to get you started: Read more

Crypto audits and proof of reserves reports are on the rise as the IRS increases oversight on cryptocurrency transactions. The lack of clear, universal guidelines, however, make it challenging for crypto companies to accurately value and report their crypto assets, adding to the complexity of compliance. To prepare your business for a crypto audit, be Read more

As the year draws to a close, Web3 finance managers need to prepare for an intricate set of year-end tasks that balance traditional finance requirements with the unique aspects of decentralized finance. From managing crypto holdings and intercompany balances to ensuring compliance, Web3 finance teams face an array of challenges. Here’s a checklist of essential Read more

Read more

Most jurisdictions have reporting requirements for listed and other types of entities that include presenting financial statements that are prepared in accordance with a set of generally accepted accounting principles. IFRS Accounting Standards provide such a set of principles and are used extensively around the world. IFRS in your pocket is a comprehensive summary of Read more

Read more

Accounting for cryptocurrency has been a challenge. The discussion of accounting for holdings of cryptocurrencies under IFRS started from Dec 2016 and concluded with the release of an agenda decision by IFRS Interpretations Committee (IFRIC) in June 2019. ISCA released a Financial Reporting Guidance in March 2020 to further guide preparers of financial statements with Read more