Cryptoassets: Accounting Implications
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
– 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
Time: 09:00 – 11:45 (15 mins break)
Venue: Live online session – details of how to join the meeting will be sent once registration is complete
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.
Jonathan Dingli, Partner, Advisory Services, KPMG in Malta
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.
Chantal Mangion. Advisory Assistant, Accounting Advisory Services, KPMG in Malta
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.
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- Guided Learning 2.5 Hours
- Language English
- Assessments Not Applicable