Accounting for Digital Assets under US GAAP, Part I
Online
1.00 Credits
Member Price $71.00
Non-Member Price $82.00
Overview
What is a digital asset and how does US GAAP apply?
This webcast will provide you with an understanding of how to account for investments in, or transactions involving, crypto assets (for example, bitcoin) and other digital assets under US GA
Note: FASB issued ASU No. 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, which is effective for all entities for fiscal years beginning after December 15, 2024. This ASU is not yet reflected in this webcast.
Objectives
- Recognize how US GAAP applies to investments in, and transactions involving crypto assets.
- Identify factors to use in the analysis of ownership of a digital asset
- Recall the efforts of the AICPA to provide further guidance on how to account for digital assets under US GAAP.
Highlights
Brief overview of digital assets.
How to account for investments in crypto assets, like bitcoin.
How to account for the receipt of digital assets when received as consideration from a contract with a customer.
How to apply the intangible asset accounting model to holdings of digital assets.
How to account for the sale of digital assets.
Factors that custodians or depositors of digital assets may consider to determine when to recognize ownership of digital assets.
Designed For
Accounting and finance professionals who need to know how to account for crypto and digital assets
Prerequisites
None
Notice
You will receive an email from the AICPA with instructions to access the webinar.
Leader(s):
Leader Bios
Sean Prince, Partner, National Office, Crowe LLP
Sean Prince is a partner in the Assurance Professional Practice (National Office) of Crowe LLP. In his role, Sean assists engagement teams and firm clients on the interpretation and application of complex accounting guidance, including revenue recognition, lease accounting, transfers of financial assets, consolidation, and pandemic-related accounting matters. Sean leads the firm’s revenue recognition subject matter expert team, and he also serves as one of Crowe’s formal liaisons with the Financial Accounting Standards Board (FASB). Sean is a frequent presenter at various state and national conferences, including webinars sponsored by the AICPA and Financial Executives International (FEI).
Non-Member Price $82.00
Member Price $71.00