Reflection of The Cryptocurrencies in The Financial Statements

Öz

This study critically investigates the relevant opinions on how cryptocurrencies should be reflected in the financial statements, together with the challenges that stem from the existing international financial reporting standards that are not fully eligible to be implemented for cryptocurrencies. But before that, the blockchain system, the working mechanism of cryptocurrency transactions and a short history of the cryptocurrency phenomenon are given. Following them, the issue of the reflection of cryptocurrencies on the financial statements is addressed under the light of relevant reporting standards and the opinions of the prominent firms from the finance sector. It is found that the attempts for the implementation of the existing financial reporting standards for the recognition of cryptocurrencies on the financial statements would be not only deficient but also problematic. Thus, it is suggested that an individual, comprehensive and detailed financial reporting standard must be published specifically for cryptocurrencies.

Anahtar Kelimeler

• Cryptocurrencies
• Financial Reporting
• Accounting Standards

Kaynakça

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