БУХГАЛТЕРСЬКИЙ ОБЛІК КРИПТОАКТИВІВ

Abstract

The article considers the issues of determining the place of cryptoassets in the accounting and financial statement of an entity. Recent years, there were numerous attempts to define an accounting treatment for a new digital class of assets – cryptoassets, however, there were little research on accounting of cryptoassets and related transactions. The author analyzed the accounting treatment of cryptoassets according to the International Accounting Standards and International Financial Reporting Standards. Nowadays the volume of transactions with cryptoassets is constantly increasing: there are more than eight thousand different types of cryptoassets, the market capitalization of which exceeds USD 929 billion. At the same time, more than 63% of the total market capitalization is represented by the cryptocurrency Bitcoin. In modern conditions, businesses conduct various transactions with cryptocurrencies: they use them as a means of payment for goods (works, services), for speculative purposes, as a method of access to the platform, as an object and means of investment, and so on. Therefore, the problem of accounting treatment of transactions with cryptoassets needs to be addressed promptly. At the same time, there is still neither unified definition of the cryptoassets nor a single approach to their accounting. In order to determine the legal status of cryptoassets, each country use its own legislation. There are numerous attempts of Ukrainian government to regulate the virtual assets. Thus, in 2020, the bill "On Virtual Assets" was adopted, which defines the legal status of virtual assets as an intangible asset. According to the review of recent research and scientific publications, cryptoasset meets the definition of an asset in accordance with the International Financial Reporting Standards Concept, as it is a resource controlled by an entity as a result of past events that is expected to generate future economic benefits. According to the research, cryptoassets meet the definition of intangible assets, that should not be amortized and have to be a subject to impairment testing