Accounting for Digital Assets Under US GAAP: Classification, Measurement, and Recognition
Online
1.00 Credits
Member Price $49.00
Non-Member Price $59.00
Overview
What is a digital asset and how does US GAAP apply?
This webcast will provide you with an understanding of how to account for investments in, or transactions involving, crypto assets (for example, bitcoin) and other digital assets under US GA
Note: FASB issued ASU No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, which is effective for all entities for fiscal years beginning after December 15, 2024. This ASU is not yet reflected in this webcast.
Objectives
- Recognize how US GAAP applies to investments in, and transactions involving crypto assets.
- Identify factors to use in the analysis of ownership of a digital asset
- Recall the efforts of the AICPA to provide further guidance on how to account for digital assets under US GAAP.
Highlights
Brief overview of digital assets.
How to account for investments in crypto assets, like bitcoin.
How to account for the receipt of digital assets when received as consideration from a contract with a customer.
How to apply the intangible asset accounting model to holdings of digital assets.
How to account for the sale of digital assets.
Factors that custodians or depositors of digital assets may consider to determine when to recognize ownership of digital assets.
Designed For
Accounting and finance professionals who need to know how to account for crypto and digital assets
Prerequisites
None
Notice
You will receive an email from the AICPA with instructions to access the webinar.
Leader(s):
Leader Bios
Sean Prince, Partner, National Office, Crowe LLP
Sean Prince is a Partner in Crowe LLP’s National Office, where he leads the firm’s revenue recognition subject matter team and advises engagement teams and clients on complex accounting matters under U.S. GAAP. With over 17 years of experience in technical accounting, Sean has spent his career at the intersection of standard-setting and practice — including prior roles at Deloitte’s National Office and the Financial Accounting Standards Board (FASB). He holds both CPA and CFA designations and earned his Master of Accountancy from Brigham Young University in 2007, graduating summa cum laude.
Sean is a nationally recognized educator on ASC 606 and ASC 842, delivering quarterly webcasts to thousands of accounting practitioners across the country. His work focuses on translating the nuances of complex standards into practical, example-driven guidance that practitioners can actually apply — with a particular emphasis on the judgment-intensive areas that draw scrutiny from SEC staff and auditor reviewers. He has presented for state CPA societies, professional associations, and university audiences, consistently earning top speaker ratings.
When he’s not dissecting accounting standards, Sean serves as an AI Transformation Champion for Crowe’s Audit Business Unit and is actively engaged in developing graduate-level accounting curriculum. He lives in Northern Virginia with his wife and eight children.
Non-Member Price $59.00
Member Price $49.00