Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Cryptocurrency Forums
Accounting Treatment on Cryptocurrencies
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Suba, post: 265070, member: 3658"] Although in some countries such as El Salvaldor crypto/bitcoin is considered a legal tender and is considered cash equivalent, and may be recorded as current assets. However, based on generally accepted accounting principles, because Bitcoin and Altcoins are intangible and cannot be felt or touched, in the balance sheet crypto will be recorded and classified as Intangible Assets, so a group with patents, goodwill, copyrights, franchises and trademarks. So the value of Bitcoin/crypto is recorded according to the cost basis, or the costs incurred to own crypto (purchase price). And if the company buys 1000 BTC Bitcoin when the price is $50k and the current Bitcoin price is $23k then the company will lose $27k per Bitcoin, bringing the company's total loss to $27 million, and of course it will have a big impact on the income statement, Cases like this also happened to MicroStrategy which reported a loss of $170 million as a result of the decline in the value of Bitcoin. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Cryptocurrency Forums
Accounting Treatment on Cryptocurrencies
Top