1.0 Credits

Virtual currency is a hot topic for both accounting and tax purposes. This course will take a look at the accounting issues being raised as well as the recommendations from an AICPA task force. The FASB itself has not yet weighed into the accounting for digital assets or crypto currency so the AICPA has provided nonauthoritative guidance to assist preparers and auditors, which you should understand. Then we will switch gears and address some of the tax issues. Similarly, virtual currency is an emerging area from a tax perspective. At this end of this course, attendees will have a strong understanding of the nuances of digital currency from both perspectives.


• Identify situations where a tax gain/loss on virtual currency is recognized
• Describe how basis is calculated on virtual currency
• Recall nonauthoritative guidance to account for virtual currency

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