Digital And Technology
The Risks of Cryptocurrency
Crypto Accounting, Tax Liabilities, Financial Statement Classification, and Professional Safeguards
3 CPD credits on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
This CPD course is designed to develop your understanding the risks associated with Cryptocurrency. This will include how to account for cryptocurrencies and reflect them in financial statements and the risks associated with potential tax liabilities.
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 2 units of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- The risks of cryptocurrency – Part 1 (video)
- The risks of cryptocurrency – Part 1 (quiz)
- The risks of cryptocurrency – Part 2 (video)
- The risks of cryptocurrency – Part 2 (quiz)
What You Will Learn
- Explain how cryptocurrencies are used as a means of exchange, for investment, and through Initial Coin Offerings
- Identify the appropriate financial statement classification for cryptocurrency holdings, including intangible assets and inventory
- Describe when income tax and capital gains tax apply to cryptocurrency transactions, including mining, trading, and gifting
- Assess the professional risks accountants face due to the lack of specific accounting standards for crypto assets
- Apply appropriate safeguards when working with entities that hold or deal in cryptocurrency
- Distinguish between the tax treatment of crypto-to-fiat and crypto-to-crypto exchanges
Who This Course Is For
- Accountants who need to classify and report cryptocurrency holdings in financial statements
- Tax professionals advising clients on the capital gains and income tax implications of crypto transactions
- Auditors assessing the risks of material misstatement in accounts that include digital assets
- Finance professionals responsible for governance and risk management around crypto-related activities
Prerequisites
- A working knowledge of financial reporting and tax fundamentals
- Familiarity with cryptocurrency basics is recommended; the Learnsignal courses 'Understanding Cryptocurrency' and 'How Cryptocurrency Operates' provide this foundation
Frequently Asked Questions
Course Details
CPD Credits3
CertificateYes
Pricing
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Everything included in your subscription:
CPD certificate on completion
Downloadable resources
Self-paced learning
Expert-led content
24/7 access
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