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Accounting for digital assets under US GAAP: Derivatives and mining
Management Accounting
Webcast

Accounting for digital assets under US GAAP: Derivatives and mining

In this webcast, you'll learn about derivative and mining considerations when accounting for digital assets under U.S. GAAP.

$125 - $149
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Accounting

Level

Intermediate

CPE Credits

2

Instructor

Nic Topoll, Sean Prince

Availability

Product Number

VBLDACCEF23250409

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 Business & partner 
Product Details

Derivatives, embedded derivatives and mining

Complexities with digital assets increase when you move away from the fundamentals and start evaluating contracts to determine if they involve derivatives or have embedded derivatives.

In addition, recording mining revenue has many unique considerations, especially if you have questions about differences related to transaction fees and block rewards or if you or your client are mining independently or within a mining pool.

Part three of a series

This webcast is part three of a series that will bring to life the content incorporated in the AICPA practice aid Accounting for and Auditing of Digital Assets.

This webcast will walk you through:

  • A specific fact pattern when evaluating whether or not there is an embedded derivative within the contract
  • The difference between recording revenue for transaction fees and block rewards
  • A flow chart for determining how to recognize revenue when participating in a mining pool

Add more value

Whether you’re a CPA working with clients or an industry accountant responsible for corporate accounting policy, this webcast will give you a clear path to help your clients or entity by applying the appropriate accounting standards to your digital asset derivative and mining activities.

Detailed examples and use cases will demonstrate the real-world application of this guidance.

Within this webcast, all mentions of the phrase crypto assets are synonymous with crypto intangible assets.

Key Topics

  • How to recognize a derivative or embedded derivative in a digital asset transaction
  • How to determine if a derivative or embedded derivative meets the net settlement criterion
  • Understand the financial statement impact and disclosure considerations related to derivatives and embedded derivatives
  • How the mining process is used to validate transactions
  • How revenue is recognized by mining entities.

Learning Outcomes

  • Recognize the accounting considerations of a derivative or an embedded derivative in a transaction involving digital assets.
  • Identify the accounting considerations when revenue is recognized by mining entities.

Who Will Benefit

  • Public accounting professionals
  • Management accountants
  • Consultants with financial clients
  • Financial services professionals
Credit Info
CPE Credits
2
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
An understanding of digital assets
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
2 hrs
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.
Nonmembers
$149.00
AICPA Members
$125.00
CIMA Members
$125.00

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

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6+ registrants

We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)

Contact us
Speakers
Nic Topoll
Nicholas is a Senior Manager in Crowe’s Accounting and Advisory practice, specializing in complex technical accounting matters. Since joining Crowe in 2010, he has been committed to delivering value to clients through deep expertise in digital assets, business combinations, debt and equity arrangements, and derivative and hedging instruments. Prior to his current role, Nicholas worked in Crowe’s Healthcare Services and Public Sector practices, leading assurance and consulting engagements for managed care organizations, physician group practices, retirement communities, health maintenance organizations, and not-for-profit entities. Nicholas is a graduate of Indiana University, a member of the AICPA, and holds an active CPA license in Indiana.
Sean Prince
Sean is a partner in Crowe’s National Office. In this role, he consults with audit teams and clients on the interpretation and application of complex accounting guidance, including revenue recognition, lease accounting, and the accounting for crypto assets. He currently serves as the Firm’s subject matter expert lead on revenue recognition. He serves as the Firm’s formal liaison with the Financial Accounting Standards Board (FASB). In addition, Sean currently serves on the AICPA’s Digital Assets Working Group. Prior to joining Crowe, Sean led the accounting advisory practice of a national accounting firm. In that role, he primarily assisted Fortune 100 companies with their adoption of new accounting standards and/or the application of complex accounting guidance to one-off transactions. Sean also previously served in the National Office and accounting advisory practice of a global accounting firm. While there, he specialized in lease accounting, consolidation, and the accounting for financial instruments. Sean began his career at the FASB as a postgraduate technical assistant. While on the FASB staff, he worked on projects related to derivatives & hedging, not-for-profit accounting, and the FASB’s conceptual framework.
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