Accounting for Business Financing Through Crypto Assets: An Evaluation of IFRS Compliance

Abstract

This study focuses on the evaluation of financing processes and accounting practices involving crypto assets within the framework of International Financial Reporting Standards (IFRS). It emphasizes that crypto assets, due to their versatility, can be classified in various ways. The study provides recommendations on how to account for financing methods involving crypto assets under international reporting standards. It also develops various examples inspired by real-world applications of crypto assets in business financing. This study differs from existing literature, which primarily focuses on the accounting of crypto assets from the perspective of holders, by addressing accounting practices related to their use as financing tools. Ultimately, this study aims to contribute to the development of reporting processes that comply with international financial reporting standards (IFRS) for the use of crypto assets in business financing.