Accounting for Cryptocurrencies and Digital Assets
Presenters : Nestene Botha CA(SA)
Overview
The announcement by the FCSA on 20 October 2022 that crypto assets a.k.a. cryptocurrencies, were now recognised as a financial product naturally brought with it questions from accounting professionals. The main questions were:
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What is the tax treatment of transactions involving this financial product?
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What is the accounting treatment of crypto assets?
Learning objectives
By attending this webinar you will gain the following competencies:
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Knowledge of what can be classified as a crypto asset/ cryptocurrency.
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A basic understanding of the technology that drives crypto assets, i.e. blockchain.
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Foundational knowledge of digital assets and related concepts such as the metaverse, NFTs, and utility tokens.
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Practical knowledge of the accounting treatment of transactions involving crypto assets.
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Awareness of the alternatives available when accounting for cryptocurrencies from the perspective of the holder.
Content
The webinar will cover the following foundational to intermediate topics:
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What is cryptocurrency?
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View of the IASB.
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How to account for cryptocurrencies from the perspective of the holder.
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Alternatives available for reporting purposes.
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Other guidance currently available.
