Accounting for Digital Assets
Overview
Digital assets such as cryptocurrencies, stablecoins and tokens raise new accounting, valuation and audit questions. This course explains how digital assets work, how to classify, measure and disclose them under current standards, and how to manage controls, custody and audit.
Who should attend
Accountants, auditors, financial controllers, and finance staff in organisations dealing with digital assets.
Training methodology
Interactive presentations, practical exercises, case studies, group discussions, role-plays where relevant, and a personal action plan that participants apply in their own work.
Objectives
By the end of this course, participants will be able to:
- Understand the types and characteristics of digital assets
- Classify digital assets under current accounting standards
- Measure and disclose digital asset holdings
- Design controls over custody and transactions
- Prepare for audit of digital assets
Course outline
Day 1Digital Assets Explained
- Cryptocurrencies and tokens
- Wallets and exchanges
- Stablecoins
- Market risks
- Demonstration
Day 2Accounting Classification
- Intangible assets or inventory
- Financial instruments
- Recent standard-setting
- Judgements
- Exercise
Day 3Measurement and Disclosure
- Cost and revaluation models
- Fair value
- Impairment
- Disclosure requirements
- Worked examples
Day 4Controls and Custody
- Custody arrangements
- Key management
- Transaction controls
- Third-party providers
- Case study
Day 5Audit and Tax
- Audit evidence
- Existence and ownership
- Tax treatment trends
- Regulatory reporting
- Action plan
