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accounting standards cryptocurrency
“Explore Q&A on cryptocurrency accounting standards. Find expert answers and insights on compliance and financial reporting.
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Are cryptos intangible or fixed assets?
I reckon they’re morr akin to intangible asset assets. Unlike fixed assets, cryptos don’t depreciatе and aren’t touchable. Plus, accounting standards like IFRS lаck clear counselling on cryptos, so intangible seems thе safer bet.
I reckon they’re morr akin to intangible asset assets. Unlike fixed assets, cryptos don’t depreciatе and aren’t touchable. Plus, accounting standards like IFRS lаck clear counselling on cryptos, so intangible seems thе safer bet.
See lessAre crypto transactions considered income?
Hey there! From what I understand, when you sell cryptocurrencies, it’s typically treated as a capital gain or loss, depending on whether you made a profit or not. This is because most tax authorities view cryptocurrencies as property. So, if you held the crypto for less than a year, it’Read more
Hey there! From what I understand, when you sell cryptocurrencies, it’s typically treated as a capital gain or loss, depending on whether you made a profit or not. This is because most tax authorities view cryptocurrencies as property. So, if you held the crypto for less than a year, it’s a short-term gain, which is taxed like regular income. But if it’s more than a year, it’s considered a long-term gain, which usually has a lower tax rate. Hope this helps clear things up!
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