We're now at the stage where companies, not just individuals, are investing in cryptocurrencies. But that means that accountants have to find a way to quantify crypto's famously volatile price swings on their company's financial statements.
There is no specific reference to crypto in U.S. financial accounting rules. But many investors, crypto fans, and even companies themselves want accounting rulemakers to change this—and there are signs the accounting standard-setters may be listening.
On this week’s podcast Talking Tax, Bloomberg Tax's Nicola M. White hears from Vivian Fang, accounting professor at the Carlson School of Management at the University of Minnesota. Fang discusses why investors care about the value of companies’ crypto assets and about what future crypto accounting rules might look like.
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