the Affiliation of Chartered Licensed Accountants (ACCA) says
cryptocurrencies can’t be thought of equal to money (foreign money) as outlined in IAS 7 and IAS 32 as a result of they can not readily be exchanged for any good or service. Though an rising variety of entities are accepting digital currencies as fee, digital currencies usually are not but broadly accepted as a medium of change and don’t characterize authorized tender.
…
digital currencies do seem to satisfy the definition of an intangible asset in accordance with IAS 38, Intangible Property. This normal defines an intangible asset as an identifiable non-monetary asset with out bodily substance.
…
cryptocurrency is topic to main variations in worth and subsequently it’s non-monetary in nature. Cryptocurrencies are a type of digital cash and don’t have bodily substance. Due to this fact, essentially the most acceptable classification is as an intangible asset.
Notice: I’ve chopped out a number of quick quotations from an extended article. In the event you discover something stunning, you need to learn the complete article for correct context.
So a Bitcoin holding in a enterprise that follows the accounting guidelines talked about by ACCA would present up as a part of intangible property in printed accounts. It may not be separated out.
