Abstract

LUCIANI TORO, Laura Rosa; CASTELLANOS SANCHEZ, Heiberg Andrés; HURTADO BRICENO, Alberto José  and  ZERPA DE HURTADO, Sadcidi. AN APPROACH TO THE ACCOUNTING TREATMENT OF CRYPTOCURRENCIES WITHIN IFRS. Innovar [online]. 2023, vol.33, n.88, pp.51-66.  Epub June 01, 2024. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v33n88.106257.

Cryptocurrencies are rapidly entering the business world. Small and medium-sized companies and multinational corporations are becoming frequent users of these digital assets, incorporating them into their payment platforms, investment portfolios, and even as financing mechanisms. Important discussions regarding the financial groups behind cryptocurrencies are present in the accounting literature. For its part, this research focuses on proposing an approach to the accounting treatment for cryptocurrencies within the framework of International Financial Reporting Standards (ifrs), adopting a qualitative approach under the documentary review technique. Our main findings indicate that the nature of cryptocurrencies is compatible with the concept of assets provided by ifrs and that their classification depends on their sale in the ordinary course of a business. Cryptocurrencies in an ifrs environment will be then classified as intangible assets or as inventories.

Keywords : Intangible assets; cryptocurrencies; inventories; International Financial Reporting Standards..

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