Considerations of accounting standards that can be used to disclose cryptographic assets in financial reports
Other Title(s)
اعتبارات المعايير المحاسبية الممكن استخدامها للإفصاح عن الأصول الرقمية المشفرة في التقارير المالية
Author
Abd al-Aziz, Majidah Abd al-Majid
Source
Journal of Economics, Administrative and legal Sciences
Issue
Vol. 6, Issue 20 (31 Aug. 2022), pp.135-160, 26 p.
Publisher
Publication Date
2022-08-31
Country of Publication
Palestine (Gaza Strip)
No. of Pages
26
Main Subjects
Financial and Accounting Sciences
Abstract EN
Cryptographic assets are a digital form of currency that uses mathematical equations and block chain technology to encrypt data.
the popularity of this type of currency has grown exponentially over the past few years due to more people and companies using it despite the refusal of central banks and country authorities to recognize cryptocurrencies as money.
however, some companies have begun to accept it as payment for goods and services.
it is expected that more people will turn to cryptocurrencies in the future.
with this, companies will have to find ways to account for and report them in the financial statements, however, the financial accounting standards board (FASB) has not yet determined how to account for cryptocurrency, leaving companies without formal guidance on the subject.
the purpose of this paper is to present potential accounting policies to display how companies will report cryptocurrencies in the future based on evidence derived from a review of the accounting literature.
the need to address digital currency problems was recommended by the international accounting standards board.
American Psychological Association (APA)
Abd al-Aziz, Majidah Abd al-Majid. 2022. Considerations of accounting standards that can be used to disclose cryptographic assets in financial reports. Journal of Economics, Administrative and legal Sciences،Vol. 6, no. 20, pp.135-160.
https://search.emarefa.net/detail/BIM-1429022
Modern Language Association (MLA)
Abd al-Aziz, Majidah Abd al-Majid. Considerations of accounting standards that can be used to disclose cryptographic assets in financial reports. Journal of Economics, Administrative and legal Sciences Vol. 6, no. 20 (Aug. 2022), pp.135-160.
https://search.emarefa.net/detail/BIM-1429022
American Medical Association (AMA)
Abd al-Aziz, Majidah Abd al-Majid. Considerations of accounting standards that can be used to disclose cryptographic assets in financial reports. Journal of Economics, Administrative and legal Sciences. 2022. Vol. 6, no. 20, pp.135-160.
https://search.emarefa.net/detail/BIM-1429022
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 158-160
Record ID
BIM-1429022