US accounting rulemakers have taken a critical step toward requiring companies to record their cryptocurrency holdings at fair value. Now they have to figure out exactly how to do so.
The Financial Accounting Standards Board faces a choice, FASB member Frederick Cannon said Thursday. It could allow swings in the value of Bitcoin and Ether to directly hit earnings by having them recorded through a company’s net income, he noted, or it could allow companies to record gains and losses in “other comprehensive income,” which doesn’t hit earnings,
“My bias is just to push it through income and ...
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