Overview
In this contemporary continuing education course, CPAs will embark on a journey into the world of blockchain, Bitcoin, and other digital assets. As the financial landscape is revolutionized by these emerging technologies and asset classes, it is imperative for accounting professionals to stay abreast of the latest developments. Participants will 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. More crucially, the course will 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. Embrace the future of finance by mastering the accounting intricacies of this digital frontier.
Major Topics:
- Cryptocurrencies, including Bitcoin, crypto assets, and other digital assets
- Blockchain
- NFT accounting
- FASB ASC 350 – Intangibles – Goodwill and other
- ASU 2023-08
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
Designed for:
Accountants and auditors working with clients that possesses cryptocurrencies or other digital assets
Prerequisite:
None
Advanced Preparation:
None