Digital asset
Digital assets are not a single IFRS asset class. Analyse the enforceable rights and applicable standards before deciding classification, recognition and measurement. For example, particular holdings of cryptocurrencies can fall under IAS 2 when held for sale in the ordinary course of business or otherwise IAS 38, depending on the facts. Other digital instruments may have different characteristics.
Worked example
A trader holds cryptocurrency for sale in the ordinary course of business. It assesses IAS 2 and any applicable broker-trader requirements, rather than automatically treating the holding as cash.
Common mistake
Assuming all digital tokens are cash, financial instruments or intangible assets without examining their contractual rights and purpose.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | SBR | Direct | September 2026–June 2027 |