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Course Level :Basic
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Credits :0.2
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Instructional Method :Nano Learning
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Pre-requisites :None
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Advance Preparation :None
Reviewed : December, 2023
The Financial Accounting Standards Board (FASB) recently published an Accounting Standards Update (ASU) intended to improve the accounting for and disclosure of certain crypto assets.
This Nano Learning course delves into the variance from non-authoritative guidance issued by the AICPA, exploring the nuanced definition of crypto assets as intangible assets residing on the internet.
One of the pivotal directives from FASB involves the recognition of costs incurred in the acquisition of crypto assets and the subsequent expensing of these costs during transactions. Throughout this course, we will delve into the distinctive features of crypto assets, including their reliance on blockchain technology, cryptographic security measures, and fungibility.
In this course, we will unravel the intricacies surrounding both initial and subsequent measurements, placing a significant emphasis on the fair valuation of crypto assets within financial statements and the subsequent reporting of gains and losses in net income. This framework is strategically designed to ensure that financial reporting in the dynamic landscape of crypto assets remains transparent and easily comprehensible.
Join this course by Dr.Robert Minniti, as he navigates through these essential concepts and updates in crypto asset accounting.
Please be aware that Nano-learning might not be universally recognized by all state boards. If unsure about your state board's acceptance of Nano-learning, it's advisable to seek clarification from them or visit the NASBA registry for further information.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
President, Minniti CPA LLC
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona. Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix.
He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College. He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, financial forecasting, and Sarbanes-Oxley compliance work. Dr. Minniti is an instructor teaching continuing professional education classes for the American Institute of Certified Public Accountants, Compliance Online, CPE Link/CCH . AccountingEd, Global Compliance Panel, Clear Law Institute, CPE Solutions, Canopy CPE, The Institute of Management Accountants, the National Association of Valuators and Analysts, the Association of Certified Fraud Examiners, the Institute of Internal Auditors, and various state CPA Societies.
MINNITI CPA LLC is seeking professional, hard-working, licensed CPAs with at least four years of experience.
The Firm demands independence, integrity, objectivity, competence and due care from all of its personnel in the conduct of its engagements. Our Firm is structured to provide leadership in achieving high quality professional performance while maintaining the concept of individual responsibility. Policies and procedures have been established providing assurance that professional engagements are properly planned and executed. Decisions are based on the substance of issues, not on form.
Our policies and procedures designate Partners of the Firm for consultation on significant ethical, technical and industry questions. The policies and procedures are designed to assure that clients receive the best professional services we can provide. We continually keep in mind the public interest. We expect our Partners and Associates to identify and resolve all important engagement issues.
The job requires high level tax preparation skills, superior tax research and problem solving abilities, broad software knowledge, and excellent written and oral communication skills. We have a team approach to provide high quality client service for tax compliance, planning, financial statements, and general business consulting.
30 Ratings
CB
Jan 10th, 2024
Good.
FG
Jan 12th, 2024
Good to know FASB's new rules about how to record Crypto assets and related cost.
