En analyse af den potentielle regnskabsmæssige udvikling for kryptovaluta

Abstract

The rapid growth and adoption of cryptocurrencies have created a need for the development of comprehensive accounting standards to guide the recognition, measurement, and disclosure of cryptocurrency transactions.
This thesis explores the potential development of accounting standards for cryptocurrencies, considering their unique characteristics and associated risks.
The thesis begins with a short introduction to cryptocurrencies and a review of existing accounting frameworks and their current applicability to the asset class. It identifies the gaps and limitations in the current standards, highlighting the need for a tailored approach that addresses the distinct features of cryptocurrencies as unique digital assets. Drawing from the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), this thesis proposes a conceptual accounting framework that differentiates between cryptocurrencies as digital commodities and digital securities.
The proposed accounting framework focuses on the recognition, initial and subsequent measurement, derecognition, and disclosure requirements for each classification.
The study also examines the challenges and risks associated with the valuation and liquidity of cryptocurrencies, providing critique and guidance on fair value estimation and the management of liquidity risks.
Using a combination of qualitative and quantitative research methods, including case studies, the thesis evaluates the feasibility and implications of the proposed accounting framework. It identifies the potential benefits, such as improved financial reporting transparency, comparability, and risk management, as well as the challenges in terms of implementation and the need for ongoing standard setting in response to the dynamic nature of the cryptocurrency market.
This thesis contributes to the ongoing discourse on the development of accounting standards for cryptocurrencies, by offering a comprehensive and practical accounting framework that addresses the unique characteristics of cryptocurrencies. It underlines the importance of harmonizing accounting standards to facilitate the seamless integration of cryptocurrencies into the global financial reporting landscape, ultimately promoting market efficiency and investor confidence.