| Abstract [eng] |
Cryptocurrencies are digital forms of currency that are more often used by individuals and legal entities. Cryptocurrencies attract users because of features such as low costs, fast payment, easy access and no government control. Central banks and state authorities refuses to recognize cryptocurrencies as money and appreciates this as a tool for companies to manipulate their profit However, more and more companies have started using cryptocurrencies for investment purposes or accepted them as a method of payment. For these reasons, the accounting standard setters are required to indicate how cryptocurrencies need to be regulated in the financial statements. The Financial Reporting Interpretations Committee has not yet issued accounting guidelines on how cryptocurrencies should be regulated in a company’s financial statements. Currently, companies need to come up with their own ways to deal with the shortcomings of cryptocurrency accounting guidelines. Research object – cryptocurrency regulation in financial statements. The aim – create a model of cryptocurrency accounting in financial statements and test it using the method of case study. Based on the literature review, there is no specific way in which cryptocurrencies should be regulated in financial statements. Obviously, there are many doubts common to cryptocurrency accounting. The study identifies and analyses aspects of cryptocurrency asset classification, valuation and disclosure. Analysed asset types such as cash, financial assets, inventories and intangible assets. A study carried out on the basis of the scientific literature and international accounting standards, analysis was made model of cryptocurrency accounting in financial statements. Analyzing the obtained case analysis data, it is noticeable that in each case examined at the end of the reporting period the same performance results are obtained, significant changes would occur only in the composition of the company's assets. Regardless of the method chosen, cryptocurrency accounting is sensitive to a company’s assets and income. In order to avoid the manipulation of financial data should be confirmed by an official cryptocurrencies marker source for determining the fair market value. The recognition of cryptocurrencies for a particular type of asset depends on the company’s operations and the purpose for which the cryptocurrencies are acquired. For cryptocurrencies volatility companies appear to take the risk of inappropriate management decisions in the future. |
