Accounting for Crypto Currencies

Authors

  • CMA (Dr.) Swapan Sarkar Associate Professor Department of Commerce University of Calcutta Kolkata

DOI:

https://doi.org/10.33516/maj.v57i12.45-48p

Abstract

Now-a-days crypto currencies are making headlines regularly for all sorts of negative news including large frauds by cyber criminals. All these have made crypto currencies even more controversial. There is, however, another aspect of crypto currencies which is no way less controversial than the crypto currencies themselves. This is accounting for crypto currencies. The present article is a humble attempt to highlight all such debatable issues associated with recognizing, measuring and disclosing crypto currency transactions with reference to existing national and international accounting regulations..

Downloads

Download data is not yet available.

Published

2022-12-01

How to Cite

Sarkar, C. (Dr.) S. (2022). Accounting for Crypto Currencies. The Management Accountant Journal, 57(12), 45–48. https://doi.org/10.33516/maj.v57i12.45-48p

Issue

Section

Cover Story

References

ACCA Global. (n.d.). Accounting for Crypto currencies. Retrieved November 26, 2022, from https://www. accaglobal.com/in/en/student/exam-support-resources/ professional-exams-study-resources/strategic-business-reporting/technical-articles/cryptocurrencies.html

Ernst & Young. (2019). Holding of Crypto currencies.

Ernst & Young. (2021). Applying IFRS; Accounting by holders of crypto assets. https://www.ey.com/en_gl/ifrs-technical-resources/accounting-by-holders-of-crypto-assets-updated-october-2021

FASB. (n.d.). ASC 350 Intangibles - Goodwill and Others

IFRS Foundation. (n.d.-a). IAS 2 Inventories . Retrieved November 26, 2022, from https://www.ifrs.org/content/ dam/ifrs/publications/pdf-standards/english/2021/issued/ part-a/ias-2-inventories.pdf

IFRS Foundation. (n.d.-b). IAS 7 Statement of Cash Flows. Retrieved November 26, 2022, from https://www. ifrs.org/content/dam/ifrs/publications/pdf-standards/ english/2022/issued/part-a/ias-7-statement-of-cash-flows. pdf?bypass=on

IFRS Foundation. (n.d.-c). IAS 21 The Effects of Changes in the Foreign Exchange Rate . Retrieved November 26, 2022, from https://www.ifrs.org/content/dam/ifrs/ publications/pdf-standards/english/2022/issued/part-a/ ias-21-the-effects-of-changes-in-foreign-exchange-rates. pdf?bypass=on

IFRS Foundation. (n.d.-d). IAS 38 Intangible Assets . Retrieved November 26, 2022, from https:// www.ifrs.org/issued-standards/list-of-standards/ ias-38-intangible-assets/#standard

IFRS Foundation. (n.d.-e). IAS 40 Investment Property . Retrieved November 26, 2022, from https:// www.ifrs.org/issued-standards/list-of-standards/ ias-40-investment-property/#standard

IFRS Foundation. (n.d.-f). IFRS 9 Financial Instruments . Retrieved November 26, 2022, from https://www.ifrs.org/issued-standards/list-of-standards/ ifrs-9-financial-instruments/#standard

IFRS Foundation. (2008). International Accounting Standard 32 Financial Instruments: Presentation. https:// www.ifrs.org/content/dam/ifrs/publications/pdf-standards/ english/2021/issued/part-a/ias-32-financial-instruments-presentation.pdf

IFRS Foundation. (2010). Conceptual Framework for Financial Reporting. https://asc.fasb. org/1943274/2147482710