IFRS Standards are currently required in more than 140 jurisdictions and permitted in many more. IFRIC has ruled that cryptocurrencies are neither legal tender nor a financial product as they are "not cash nor an equity instrument of another entity," adding that they do not "give rise to a contractual right for the holder and it is not a contract that will or may be settled in the holder's own ... The IFRS is recognised in over 140 jurisdictions. Such a decision regarding cryptocurrencies has been under discussion since 2016 and opinions differ from country to country. The IFRIC has received 23 letters in this regard from a large number of interested parties such as the Hong Kong Institute of Certified Public Accountants (HKICPA), the Indonesian Financial Accounting Standards Board, the ... “develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world.” IFRIC’s recent announcement on cryptocurrencies states that they are “not cash nor an equity instrument of another entity,” and they do not “give rise to a contractual right for the holder and it is not a contract that will or may be settled in the holder’s own ... Bitcoin-masker Crypto is an Intangible Asset , Global Accounting Standards Body Argues Cryptocurrency holdings are neither cash nor financial assets , but meet the definition of an intangible asset , at least according to an influential global accounting standards body . IFRS: Accounting for crypto-assets. Ernst & Young 11 Mar 2018, 20:40 UTC . Cryptoassets IFRS Framework. This report aims to briefly introduce cryptocurrencies and other types of crypto-assets ... The FASB and IASB, the two main rule-setting bodies for accounting standards worldwide, cited “lack of usage” as the main reason for not clarifying cryptocurrency accounting treatments. So far, onerous accounting standards have hindered Bitcoin and cryptocurrency adoption.
[index]          
My Second Channel: https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA ----- Supp... BITCOIN IS BREAKING OUT! Should I Buy? What Price Will Bitcoin Be At The Halving? PREDICTION TIME!🔴🔵 Should I Buy? What Price Will Bitcoin Be At The Halving? Bitcoin Halving Competition for all the holders - Bitcoin 比特币 Live Trading Binance US Exchange 11,769 watching Live now IFRS 16 – the new leases standard explained by GRENKE - Duration: 2:24. https://www.cpdbox.com Short explanation for accountants of how cryptocurrencies work (without lots of technical details) and how to apply IFRS to accounting... Support Me On Patreon! https://www.patreon.com/TheModernInvestor ----- Protect And Sto... Binance Bitcoin Futures, Digital Asset Revolution, Digitzed Real Estate & Anxious Facebook The Modern Investor. Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe. Working ...