Accounting and Financial Reporting for Cryptocurrency and other Digital Assets

Learning Objectives

• Explain common questions related to the fair presentation and disclosure of cryptocurrency and other digital assets.
• Describe common risks and audit techniques relevant to digital records.
• Identify key principles of digital asset accounting.
• Apply appropriate valuation methods to digital assets.
• Ensure compliance with regulatory requirements for digital asset reporting.
• Implement effective internal controls for digital asset transactions.

Course Description

In today's rapidly evolving financial landscape, digital assets have become a prominent feature, presenting unique challenges and opportunities for accounting and auditing professionals. This webinar comprehensively explores the key principles, methodologies, and considerations essential for effectively navigating the complexities of digital asset accounting and auditing.

Led by industry experts, participants will delve into the fundamental concepts of digital asset classification, valuation, and reporting, gaining invaluable insights into the regulatory frameworks and accounting standards governing these assets. Through real-world case studies and practical examples, attendees will learn how to apply industry best practices to address the challenges associated with digital asset transactions, custodial arrangements, and risk management.

From understanding the nuances of blockchain technology to implementing robust internal controls and audit procedures, this webinar equips participants with the knowledge and tools needed to enhance their proficiency in digital asset accounting and auditing practices. 

Join this CPE webinar, which offers a comprehensive overview and practical guidance to navigate this dynamic and increasingly important area of accounting.

Major Topics:

• Digital Asset Classification
• Valuation Methods
• Regulatory Compliance
• Internal Control Frameworks
• Audit Procedures

Overview

• Digital assets defined

  3 mins
• Encryption key

  16 mins
• Intangible assets defined

  28 mins
• Effective date and transition

  44 mins
• Derecognizing digital assets – Indefinite-lived intangibles

  65 mins
• Client acceptance or continuance

  76 mins
• Controls over acquiring digital assets

  93 mins