Cryptoassets: Accounting Implications

This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on kla@kpmg.com.mt or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.

Course Description:

Cryptoassets, including cryptocurrencies such as Bitcoin, witnessed a breakout in 2017. In light of this, Malta issued a framework regulating Digitalised Ledger Technologies (DLTs) and digital assets, thus providing a stable environment for investors and entities to operate in. This growing industry calls for an important aspect to be addressed – the accounting implications on these new type of assets. The aim of this course is to provide an overview of the different categories of cryptoassets available on the market and their accounting treatment. This course will walk you through the existing IFRS standards that could be applied to different types of cryptoassets, both from the perspective of the holder and the issuer. Factors that need to be considered when determining the accounting treatment for these new assets will also be discussed. Furthermore, the course will delve into the accounting implications applicable in different scenarios including ICOs and entities operating as trading platforms.

Target Audience: Accountants, Lawyers, Entreprenuers, Corporate Service Providers and related professionals

Learning Outcomes:

Common types of cryptoassets
IASB’s current position on cryptoassets
Accounting literature of relevance to cryptoassets
Classification of cryptoassets from the issuer’s point of view
Classification of cryptoassets from the holder’s point of view
Accounting for rights and obligations attached to cryptoassets
Accounting considerations relevant to trading platforms
Accounting considerations relevant to ICOs

Venue: Kindly contact us on kla@kpmg.com.mt to indicate your preferred training method; online or in-person.

CPE Hours: This course qualifies for 2.5 hours of Structured CPE which can be classified as Core Competency. A certificate of attendance will be provided at the end of the session.

Trainers:

Jonathan Dingli, Partner, Advisory Services, KPMG in Malta

Jonathan Dingli

Jonathan leads a team of professionals within the Accounting Advisory Services (AAS) Team at KPMG in Malta. At KPMG, Jonathan has assisted various clients, both local and international with respect to IFRS advice and IFRS adoption. He was responsible for advising a multi-national group of over 150 subsidiaries in its adoption of IFRS and the preparation of the group’s first IFRS consolidated financial statements. Before returning to KPMG, Jonathan set up the Malta Institute of Accountants’ Technical Department which he led for seven years. During his term of office Jonathan wrote a number of technical pronouncements on the application of IFRS to specific local circumstances, was responsible for the drafting of GAPSE (an accounting standard for Maltese SMEs), and he also represented the Institute on local and international fora. Before joining the Institute, Jonathan also worked for a number of years with KPMG in Malta and in Dublin during which he was assigned on a number of audits of high level clients both locally and overseas. Jonathan was the editor of the MIA journal the Accountant for seven years. Jonathan has been specialising in IFRS since 2008; he has lectured on IFRS in various countries, ran various IFRS courses for KPMG and the Malta Institute of Accountants and has given presentations at various events and conferences. He lectures on advanced financial reporting in the Master in Accountancy post-graduate degree at the University of Malta.

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Terms and conditions.

Course Features

Guided Learning 2.5 Hours
Language English
Assessments

Jonathan Dingli

Partner

A Partner within the Advisory function, Jonathan leads both the Corporate Accounting Advisory Services team and the Learning Academy at KPMG in Malta. He has over 20 years of experience in the accountancy profession and over 14 years teaching experience. After obtaining his Bachelor of Accountancy Hons. degree (First Class honours) from the University of Malta, Jonathan joined the audit function of KPMG. Several years later he became the first technical officer of the Malta Institute of Accountants and eventually its first Technical Director. In 2012 he set up KPMG’s Accounting Advisory Team which he still leads. In his current role as IFRS specialist Jonathan assists and provides advice to many local and international clients on financial reporting matters to ensure they comply with the most complex requirements of IFRS. More recently, he took the lead of the firm’s training arm, the KPMG Learning Academy. He is responsible for the strategic direction of the academy and is also involved in the delivery of several financial reporting courses under the IFRS learning suites umbrella. He completed his PhD studies in 2021. He lectures on advanced financial reporting at the University of Malta is an elected member of the Council of the MIA.

Chantal Mangion

Advisory Assistant

Chantal joined KPMG’s Accounting Advisory Services function in 2020 following her completion of the Master in Accountancy degree at the University of Malta. Chantal is mainly involved in advising a wide range of clients with complex financial reporting matters and other tailor-made solutions. Chantal also delivers technical training on specific IFRS matters to her clients.