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Accounting & Auditing Digital Assets for Commercial Entities Webcast

Nov 8
10:00 - 11:40 a.m.

Online

2-A&A
CPE Credits

The use of digital assets including cryptocurrencies and Non-Fungible Tokens (NFTs) continues to proliferate, raising new accounting and financial reporting related challenges. The session will provide an overview of various types of digital assets and highlight the current application of U.S. GAAP to digital assets as well as an update of the current FASB project designed to address the basic accounting for fungible crypto assets. Finally, the session will highlight some of the key audit-related risks for auditing a client’s digital assets.
Highlights
• Overview of the digital assets and key concepts of control, ownership rights, entity perspective • FASB and SEC activities • Basic accounting for cryptocurrencies including financial statement presentation and disclosure requirements, along with various considerations for accounting for other types of digital assets (e.g., stable coins, NFTs, security tokens) • Highlights from the industry resources (e.g., CPA.com Wall Street Blockchain Alliance and the AICPA & CIMA Practice Aid Accounting for and Auditing of Digital Assets) • Key audit risks and internal control considerations

Registration

PICPA Member: $89
Nonmember: $114

More Information

Course No. 870000 Level: Update

Prerequisites: None

Notes
The course will provide an overview of the digital asset marketplace, how they are being used in businesses, their various structures, including rights, obligations and risks, and the applicable accounting and financial reporting requirements. Audit challenges will also be discussed.

Speaker(s)

Allison Henry

Vice President - Professional & Technical Standard