ARTICLE UPDATE.

Position:IMA/
 
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The Strategic Finance editors would like to clarify information included in the November 2019 article, "Accounting for Cryptoassets" by Sean Stein Smith and John "Jack" Castonguay. PwC's recommendation for the treatment of cryptocurrencies under current GAAP is that they be treated as intangible assets not subject to amortization or fair value accounting and that the assets be subject to periodic impairment testing. This is the same approach recommended by the other Big 4 firms.

PwC has also noted that it believes recording the assets as intangible assets, measured...

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