ACCOUNTING OF CRYPTOCURRENCIES IN THE SCOPE OF IFRS: ARE CRYPTOCURRENCIES REAL CURRENCIES?

Year 2020, , 237 - 257, 30.06.2020

Erkin Güdelci

https://doi.org/10.31460/mbdd.637870

Cited By: 8

Abstract

Since there are no accounting standards including International Financial Reporting Standards (IFRS) to guide the transactions of cryptocurrencies and the number of transactions about cryptocurrencies increase in entities, it makes important to deal with the accounting for cryptocurrencies. This study evaluates what kind of assets cryptocurrencies are and how to account for them. After evaluating all assets alternatives for cryptocurrencies, it was concluded that it is the best option to categorize cryptocurrencies as intangible classification, even though there are some arguments against the classification of cryptocurrencies as intangible classification in the literature.

Keywords

IFRS, CryptoCurrencies, Asset Classification

UFRS KAPSAMINDA KRİPTO PARA İŞLEMLERİNİN MUHASEBELEŞTİRİLMESİ: KRİPTO PARALAR GERÇEKTEN PARA MI?

Abstract

Uluslararası Finansal Raporlama Standartları (UFRS) dahil hiçbir muhasebe setinin kripto para işlemlerine rehberlik edecek bilgi sağlayamaması ve kripto para işlemlerine dönük uygulamaların giderek artış göstermesi, kripto para işlemlerinin muhasebeleştirilmesini daha önemli hale getirmektedir. Bu çalışma ile UFRS kapsamında kripto paraların ne tür bir varlık olduğu ve nasıl muhasebeleştirmesi gerektiği değerlendirilmiştir. Yapılan değerlendirmeler doğrultusunda kripto paraları “maddi olmayan duran varlık” olarak ele almanın, getirilen eleştirilere rağmen muhasebe açısından en doğru seçenek olduğu sonucuna ulaşılmıştır.

Keywords

UFRS, Kripto Para, Varlık Sınıflandırması

References

• AASB. 2016. Digital currency–A Case for Standard Setting Activity. A Perspective by the Australian Accounting Standards Board (AASB), http://www.aasb.gov.au/admin/file/content/c/AASB_ ASAF_ DigitalCurrency.pdf (Erişim Tarihi: 09.09.2019)
• Avunduk, H. ve Aşan, H. 2018. “Blok Zinciri (Blockchain) Teknolojisi ve İşletme Uygulamaları: Genel Bir Değerlendirme” Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 33(1): 369-384
• Ateş, B. A. 2016. “Kripto Para Birimleri, Bitcoin ve Muhasebesi”, Çankırı Karatekin Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 7(1): 349-366
• Berchowitz, G. 2018. Fair Value or at Cost? Bitcoin Throws Accounting A Curveball, Çevrimiçi: https://www.accaglobal.com/gb/en/member/discover/cpd-articles/financial-management/bitcoinacc -cpd.html (Erişim Tarihi: 09.09.2019)
• Brukhanskyi, R. ve Spilnyk, I. 2019. Cryptographic Objects in the Accounting System. In 2019 9th International Conference on Advanced Computer Information Technologies (ACIT), 384-387.
• CPA Canada. 2018. An Introduction to Accounting for Cryptocurrencies, Çevrimiçi: https://www.cpacanada.ca/en/business-and-accounting-resources/financial-and-non-financial-reporting/international-financial-reporting-standardsifrs/publications/accounting-for-cryptocurrencies-under-ifrs (Erişim Tarihi: 25.09.2019)
• Davis, J. 2011. The Crypto-Currency: Bitcoin And its Mysterious Inventor, Çevrimiçi https://www.newyorker.com/ magazine/2011/10/10/the-crypto-currency (Erişim Tarihi: 20.10.2019)
• Dizkırıcı, A. S. ve Gökgöz, A. 2018. “Kripto Para Birimleri ve Türkiye'de Bitcoin Muhasebesi”. Journal of Accounting, Finance and Auditing Studies, 4(2): 92-105.
• Foy, J. 2019. Financial Accounting Classification of Cryptocurrency, Libery University, Honors Program, Senior Thesis
• Grant Thornton. 2018. IFRS Viewpoint Accounting for Cryptocurrencies - The Basics, Çevrimiçi: https://www.grantthornton.global/globalassets/1.-member-firms/global/insights/article-pdfs/ifrs /ifrs -viewpoint-9---accounting-for-cryptocurrencies--the-basics.pdf (Erişim Tarihi: 30.09.2019)
• Gröblacher, M. 2018. Cryptocurrencies (Bitcoins) in Financial Reportıng-New Challenge for Accountants. Singidunum University International Scientific Conference: The Role of Financial and Non-Fınancial Reporting in Responsible Business Operation, 88-93.
• Hyttia, P. & Sundqvsit, E. 2019. Accounting for Cryptocurrencies- A Nightmare for Accountants, Umea School of Business, Economics and Statistics, departmant of business administration, Master Thesis
• IASB. 2019. https://www.ifrs.org/news-and-events/updates/ifric-updates/june-2019/#8 (Erişim Tarihi: 10.03.2020)
• Labbe, A. Crabb, J. ve Lai, K. 2018. Waking up and Cracking Down, Çevrimiçi: https://www.iflr.com/Article/3791594/Waking-up-and-cracking -down.html? Article Id=3791594 (Erişim Tarihi: 01.10.2019)
• Lev, B. & Daum, J.H. 2004. “The Dominance of Intangible Assets: Consequences for Enterprise Management and Corporate Reporting. Measuring Business Excellence”, 8(1): 6-17.
• Low, K. F. & Teo, E. G. 2017. “Bitcoins and Other Cryptocurrencies as Property?” ,Law, Innovation & Technology, 9(2): 235–268.
• Maas, W. 2018. Classification and Valuation Issues for Crypto-Assets, Çevrimiçi: https://www.accountingandblockchain.com/classification-and-valuation-issues-for-crypto-assets/ (Erişim Tarihi: 20.10.2019)
• Mccullum, E. 2015. “Bitcoin: Property or Currency?”, Tax Notes, 148(8), 866-873
• Nakamoto, S. 2008. Bitcoin: A Peer-to-Peer Electronic Cash System. Çevrimiçi: http://www.cryptovest.co.uk
• Özkan, M. K. Bitcoin ve Blockchain Nedir? Ne değildir? Çevrimiçi: http://www. musiad.org.tr/F/Root/Pdf/cerceve-dergi-85.pdf (Erişim Tarihi: 19.09.2019)
• Prochazka, D. 2018. “Accounting for Bitcoin and Other Cryptocurrencies Under IFRS: A Comparison and Assessment of Competing Models”, The International Journal of Digital Accounting Research, (18): 161-188.
• PWC. 2017. In Depth, A Look at Current Financial Reporting Issues, Çevrimiçi: https://www.pwc.com/sg/en/insurance/assets/ifrs17-current-financial-reporting.pdf (Erişim Tarihi: 29.09.2019)
• Raiborn, C. ve Sivitanides, M. 2015. “Accounting Issues Related to Bitcoins”, Journal of Corporate Accounting & Finance, 26(2): 25-34
• Ram, A. J. 2015. Accounting for the Bitcoin: an Initial Perspective, University of Witwatersrand School of Accountancy, Doctoral Dissertation.
• Ram, A. Maroun, W. ve Garnett, R. 2016. “Accounting for The Bitcoin: Accountability, Neoliberalism and A Correspondence Analysis”, Meditari Accountancy Research, 24(1): 2–35.
• Ramrakhiani, N. V. 2018. An Introductory Outlook: What are the Prosceptive and Current Isuues with Regard to Accounting for Cryptocurrency?, Dublin Business School, International Accoounting and Finance Department, Master Thesis
• Salawu, M. K. & Moloi, T. 2018. “Benefits of Legislating Cryptocurrencies: Perception of Profession Accountants”, Academy of Accounting and Financial Studies Journal, 22(6): 1-17
• Sixt, E. & Himmer. K. 2019. Accounting and Taxation of Cryptoassets. Çevrimiçi: https://ssrn.com/abstract=3419691 (Erişim Tarihi: 15.10.2019)
• Sokolenko, L. ve diğerleri. 2019. “Cryptocurrency: Economic Essence and Features of Accounting”, Academy of Accounting and Financial Journal, 23(2), 1-6.
• Sterley, A. 2019. “Cryptoassets: Accounting for an Emerging Asset Class”, The CPA Journal, 89(6): 6-7.
• Şahin, O. N. 2018. TMS & TFRS Işığında Muhasebe, Vergi ve Denetim Açısından Bitcoin ve Diğer Kripto Para Birimleri, Muhasebe Bilim Dünyası Dergisi, 20(4): 898-923.
• Şavlı, T. 2014. Uluslararası/Türkiye Finansal Raporlama Standartları, Ankara: Yaklaşım Yayıncılık
• Tan, B. S. ve Low, Y. L. 2017. “Bitcoin – its Economics for Financial Reporting”, Australian Accounting Review, 81(27): 220-227.
• Temelli, F. 2019. “Kripto Para Birimlerinden Bitcoin ve Muhasebe Açısından Değerlendirilmesi”. İktisadi Yenilik Dergisi, 6(2): 107-119.
• UKbitcoinblog. https://www.ukbitcoinblog.com/general-info/applying-ifrs-accountingrules-to-crypto currency-ico-and-ito/ (Erişim Tarihi: 11.10.2019)
• Yalçın, N. ve F. Gürbüz. 2015. Açık Kaynak Para Birimi Bitcoin, XVII. Akademik Bilişim Konferansı, Anadolu Üniversitesi, Eskişehir
• Yalçın, S. 2019. “Kripto Değişim Araçlarının Muhasebeleştirilmesi”. Journal of Accounting & Finance, (81): 101-120.
• Yumuşaker, M. C. 2019. “Kripto Para ve Tipleri, Bitcoin Olgusu ve Muhasebesi”. OPUS Uluslararası Toplum Araştırmaları Dergisi, 12(18): 1007-1029.