An Introduction to Accounting for Cryptocurrencies
29 June 2018
The Chartered Professional Accountants (CPA) of Canada has published a document summarising the accounting considerations for holders of cryptocurrencies.
The paper:
- discusses how such assets should be classified;
- identifies current discussions taking place by standard-setters;
- considers the disclosures that entities investing in cryptocurrency might provide;
- looks at the tax consequences arising from dealing in cryptocurrency (from a Canadian perspective);
- analyses the fair value of cryptocurrency by reference to IFRS 13 Fair Value Measurement; and
- provides links to other resources dealing with the accounting for cryptocurrencies.
The publication is available from the CPA’s web site here.