Cryptocurrency – Accounting for Digital Assets – ACCA SBR Current Issues


A current issue on the ACCA Strategic Business Reporting (SBR) syllabus is accounting for digital assets. In this video, we use the example of cryptocurrency, of which the most well-known type is the Bitcoin.

We discuss whether cryptocurrency falls in the scope of either IFRS 9 Financial Instruments or IAS 39 Intangible Assets. We then consider, in the absence of an applicable IFRS Standard, how to derive an accounting treatment that embodies the principles and qualitative characteristics of useful information outlined in the Conceptual Framework.

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