Crypto Accounting Guide Update Aims to Ease Corporate Compliance

The American Institute of Certified Public Accountants has made substantial updates to its digital assets guidance to help those who prepare and audit companies’ financial statements navigate first-ever US cryptocurrency accounting rules.

The resource reflects changes the Financial Accounting Standards Board made to US accounting standards with its landmark rules that address how companies need to recognize and measure the digital currencies they own, a Tuesday press release said. The updated guide provides a new definition for digital assets and answers questions about the rules’ scope and implementation.

• Companies like MicroStrategy Inc. have bought significant amounts of Bitcoin and other ...