Instructor
Sean Prince
Instructor
Sean Prince, CPA
"Sean is a Managing Director in Crowe's Assurance Professional Practice (or National Office). His primary responsibility is to support Crowe's audit practice with the application and interpretation of complex accounting guidance, including financial instruments, hedge accounting, revenue recognition, and accounting for cryptocurrency. He currently serves as the firm's revenue recognition SME co-leader. Prior to joining Crowe, Sean served for two years as the leader of the accounting advisory practice at a national accounting firm, assisting clients with the application of complex accounting guidance and the implementation of new accounting standards. Sean began his career as a postgraduate technical assistant (PTA) with the Financial Accounting Standards Board (FASB). Sean graduated summa cum laude from Brigham Young University with both Bachelors and Masters degrees in accounting. Sean currently holds an active CPA license in both New York and Connecticut, and is a member of the AICPA and New York State Society of CPAs."
What is a digital asset and how does US GAAP apply?
This webcast will provide you with an understanding of how to account for investments in, or transactions involving, crypto assets (for example, bitcoin) and other digital assets under US GA
*Recognize how US GAAP applies to investments in, and transactions involving crypto assets *Identify factors to use in The analysis of ownership of a Digital asset *Recall The efforts of The AICPA to provide further guidance on how to account for Digital assets under US GAAP
• Brief overview of digital assets
• How to account for investments in crypto assets, like bitcoin
• How to account for the receipt of digital assets when received as consideration from a contract with a customer
• How to apply the intangible asset accounting model to holdings of digital assets
• How to account for the sale of digital assets
• Factors that custodians or depositors of digital assets may consider to determine when to recognize ownership of digital assets
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*Accounting and finance professionals who need to know how to account for crypto and digital assets