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TagsHow does FASB address the accounting treatment of blockchain-based assets?
Julio HerreraNov 24, 2021 · 3 years ago1 answersWhat are the accounting guidelines provided by FASB for handling blockchain-based assets?
1 answers
- As an expert in the field, I can tell you that FASB plays a crucial role in addressing the accounting treatment of blockchain-based assets. FASB provides guidelines that require companies to recognize and measure these assets based on their fair value. This ensures that companies accurately reflect the value of their blockchain-based assets on their financial statements. Additionally, FASB mandates disclosure of relevant information about these assets, such as their nature, associated risks, and changes in fair value. By adhering to FASB's guidelines, companies can maintain transparency and accountability in their accounting practices.Nov 24, 2021 · 3 years ago
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