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Accounting & Tax Implications of Virtual Currency

Accounting & Tax Implications of Virtual Currency

1 Credit


Subject Area


Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Related Matters for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CPE credit for Certified Management Accountants (CMA)

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax for Oregon Tax Preparers

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.


  • Accounting Implications
    3 mins
  • Accounting Issues
    6 mins
  • Accounting Issues Cont'd
    8 mins
  • Resource
    27 mins
  • Hard Forks
    45 mins
  • Charitable Donations of Virtual Currency
    54 mins

Course Description

What is used for buying, selling, and investing and is untraceable, anonymous, and technologically confusing?

The answer uses different terms, but mean basically the same thing: cryptocurrency, virtual currency, digital currency, and cryptocoin.

All describe a relatively new medium of economic exchange used for buying, selling, exchanging, and investing.

It's a brave new cyber world that we live in, one where virtual currency exists to exchange and pay for things globally. Certainly, this throws a whole new monkey wrench into basic accounting platforms and raises a few questions such as: How is cryptocurrency handled by a bookkeeper, and just what in the world is it anyway?

Virtual Currency is a hot topic for both accounting and tax purposes. This online continuing education course will take a look at the accounting issues being raised as well as the recommendations from an AICPA task force. The FASB itself has not yet weighed into the accounting for digital assets or crypto currency so the AICPA has provided nonauthoritative guidance to assist preparers and auditors, which you should understand.

In this online CPE/CE course, we will also switch gears and address some of the tax issues. Similarly, virtual currency is an emerging area from a tax perspective. At the end of this online CPE course, attendees will have a strong understanding of the nuances of digital currency from both the perspectives.

Click for more webinars on | Accounting & AuditingTax Updates |

Key topics covered in this online CPE/CE webinar:

  • Accounting for Crypto currency. 
  • Accounting for sale of Digital Asset.
  • Tax implications of Crypto Currency.

Learning Objectives

  • To identify situations where a tax gain/loss on virtual currency is recognized
  • To describe how basis is calculated on virtual currency
  • To recall nonauthoritative guidance to account for virtual currency

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Forensic Accountant
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA