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CPE Self-Study
Blockchain for Digital Assets: Accounting for Digital Assets Under U.S. GAAP
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NASBA FIELD OF STUDY
Information Technology
LEVEL
Basic
CPE CREDITS
Online: 1.0
Understand how to explain bitcoin payments to clients and how to account for other transactions and investments involving crypto and digital assets under U.S. GAAP.

CPE On-Demand
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Product details

Who Will Benefit?

  • Accounting and finance professionals

Key Topics

  • Overview of digital assets
  • Accounting for investments in crypto assets like Bitcoin
  • Accounting for digital assets received as consideration from a contract with a customer
  • Applying the intangible asset accounting model to digital asset holdings
  • Accounting for the sale of digital assets
  • Factors in determining when to recognize ownership of digital assets

Learning Objectives

  • Describe how U.S. GAAP applies to investments and transactions involving crypto assets.
  • Identify factors in the analysis of digital asset ownership.
  • Describe the efforts of the AICPA to provide further guidance on digital asset accounting under GAAP.

How will this product help you with the work on your desk?

  • Better understand how to account for digital assets
  • Be prepared for challenges to reviewing digital asset values

Your client got paid in Bitcoin. Now what?

Are crypto assets financial assets, a form of currency...or something else? Although the use of crypto assets (and the number of different types of crypto assets) is rapidly expanding, accounting guidance has not kept pace.

This self-study CPE course will help you answer the question of what to do when your client is paid in Bitcoin, as well help you understand how to account for other transactions and investments involving crypto and digital assets under U.S. GAAP.

Crypto asset accounting shouldn't be cryptic.

With easy−to−digest key learnings and applicable real-world examples, this course will help you assess the rights and obligations associated with digital asset holdings, select the correct accounting treatment, apply relevant SEC rules and FASB standards, and more.

You'll also learn what the AICPA is doing to lend clarity, and guidance, to this murky but important field.

Ratings and reviews
Author(s)

Sean Prince

Managing Director, Crowe LLP

Sean is a Managing Director in Crowe's Assurance Professional Practice (or National Office). His primary responsibility is to support Crowe's audit practice with the application and interpretation of complex accounting guidance, including financial instruments, hedge accounting, revenue recognition, and accounting for cryptocurrency. He currently serves as the firm's revenue recognition SME co-leader.

Prior to joining Crowe, Sean served for two years as the leader of the accounting advisory practice at a national accounting firm, assisting clients with the application of complex accounting guidance and the implementation of new accounting standards. Sean began his career as a postgraduate technical assistant (PTA) with the Financial Accounting Standards Board (FASB).

Sean graduated summa cum laude from Brigham Young University with both Bachelors and Masters degrees in accounting. Sean currently holds an active CPA license in both New York and Connecticut, and is a member of the AICPA and New York State Society of CPAs.

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$69.00
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Estimated total:
$69.00
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CREDIT INFO
CPE credits
Online
: 1.0
NASBA Field of Study
Information Technology
Level
Basic
Prerequisites
None
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
BLDA
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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