- February 27, 2022 at 3:26 pm #649455hieuht010198Member
- Topics: 3
- Replies: 3
Teacher, Firstly, I have a little bit confused to distinguish ICO and cryptocurrency, can you explain the difference please?
Secondly, I already have read 2 ACCA SBR articles: ‘Accounting for cryptocurrencies’ and ‘Asset ceilling test (IAS19), initial ICO, and non-financial performance measures’
+)For the first articiles ‘ Accouting for crytocurrencies’, in page 3/6: they said that ‘cryptocurrencies should not be accounted for financial assets’. So I think Crytocurrencies is not related to IFRS 9,7 and IAS 32.
+)For the second articles, in page 5/8: they said:’ the rights given to the tokens holders may be similars to the rights of the holders of debt, equity instruments or other financial instruments.
So I suggest that ICO can be accounted for financial instrument in accordance with IFRS 9.
So 2 my opinions is right?
I hope your replies. Thank you so much.
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