Accounting & Auditing for Cryptocurrency
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
Cryptocurrency continues to evolve rapidly, bringing new accounting and auditing considerations for CPAs and auditors. This course provides a practical overview of the accounting and auditing issues associated with cryptocurrency, with an emphasis on recent standard-setting developments and their implications for practice.
The accounting portion of the course focuses on ASU 2023-08 and related developments, including recent FASB Board discussions, the FASB's Invitation to Comment, and the addition of cryptocurrency-related topics to the FASB's research agenda. Participants will work through a practical case study to apply the guidance in ASU 2023-08, building confidence in accounting for cryptocurrency transactions and balances.
The auditing portion of the course addresses key audit considerations related to cryptocurrency, including implications for engagement acceptance and continuance, risk assessment, and the design and performance of audit procedures. The course also references the AICPA's Accounting for and Auditing of Digital Assets practice aid to help bridge authoritative guidance and real-world application.
Highlights
- Accounting and auditing issues related to cryptocurrency
- ASU 2023-08 and related FASB developments
- FASB discussions, Invitation to Comment, and research agenda updates
- Case study application of cryptocurrency accounting guidance
- Accounting for cryptocurrency transactions and balances
- Audit considerations for cryptocurrency engagements
Prerequisites
None
Designed For
All accounting/auditing professionals
Objectives
- Identify the impact of recent FASB standard-setting activities on the accounting for digital assets, including cryptocurrency
- Recognize the key accounting requirements introduced by ASU 2023-08 as they apply to common cryptocurrency transactions and balances
- Identify key audit considerations related to cryptocurrency, including risks affecting engagement acceptance, risk assessment, and audit procedures
Preparation
None
Leader(s):
Leader Bios
Melisa Galasso, Galasso Learning Solutions LLC
Melisa Galasso, CPA is passionate about providing confidence, not just compliance as she leads Galasso Learning Solutions as Founder & CEO. Melisa is a nationally recognized authority in designing and facilitating courses on advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. Since 2016, she has guided the GLS team to deliver quality in everything we do. With a far-ranging career in public accounting, academia and industry and a bachelor’s degree from Georgetown University, Melisa has built a reputation for delivering engaging, effective learning experiences for CPAs. Committed to advancing our profession, she has served on multiple committees for leading industry organizations including the AICPA and FASB, written the nonprofit accounting book, “Money Matters for Nonprofits,” and has been honored with the Top 50 Women in Accounting Award, the Rising Star award from NAWBO Charlotte, and “40 under 40” recognition by CPA Practice Advisor. In her free time, Melisa loves spending time with her family and can often be found at one of her daughter’s horse shows, supporting the arts with tickets to the orchestra, volunteering, or speaking a bit of French or Spanish on one of her treasured quarterly vacations.
Non-Member Price $119
Member Price $89