Accounting For Digital Assets

Recent years have seen developments in distributed ledger technologies, such as blockchain, that led to significant growth the number and type of digital assets available. In this article we review current practice small firms globally reporting on their financial statements. We then assess potential treatments under GAAP, namely intangibles, inventory or instruments. Finally, provide policy advice standard setters, with a call either develop new stand-alone amend definition instruments include cryptocurrencies, allow greater comparability understandability firms’ reporting. practices assets. GAAP.