What are the key changes in FASB agenda that cryptocurrency investors should be aware of?

1 answers

• Dec 25, 2021 · 3 years ago
  Hey there, cryptocurrency investors! You better pay attention to the key changes in FASB agenda. One major change is how cryptocurrencies are treated as intangible assets. This means that their value will be recorded and any changes in value will be reflected in the financial statements. Another change is the classification of cryptocurrency holdings. They used to be considered as inventory, but now they're more likely to be classified as investments. This change can affect how gains and losses are recognized. And let's not forget about FASB's guidance on accounting for ICOs and other cryptocurrency transactions. It's important to follow these guidelines to ensure accurate financial reporting. So, keep an eye on FASB's agenda and stay updated on these changes to make informed decisions in the cryptocurrency market.
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