Provocări contabile aferente recunoașterii criptovalutei

Abstract

The article aim is to study the role of cryptocurrency in the modern financial system in special in accounting system. For study, we used the methods of synthesis and analysis, formalization, and specification. Central banks and state authorities mostly refuse to acknowledge that cryptocurrencies are money, yet the number of payment transaction using cryptocurrencies is increasing and cryptocurrencies form a non-negligible. The rise of cryptocurrencies raises also question of how to account for them. Using empirical evidence from economic literature, the economists discusses the properties of cryptocurrencies as cash and as investment asset. The paper focuses on two common situations when firms deal with cryptocurrencies: receiving cryptocurrencies as a means of payment or acquiring cryptocurrencies for investment purposes. Based on this analysis, potential accounting models under IFRS are developed and discussed regarding the motivation with which an entity acquires cryptocurrencies. Arguments are presented to show that a fair value model is the most relevant for investment purposes and a foreigh currency approach is appropriate for payment transactions. JEL: M41, M13, M14