An Introduction to The Development of Accounting Guidelines for Cryptocurrencies (Experimental Study)

Author

Esam Khalaf

Abstract

Cryptocurrency is a form of decentralized digital money that exists only
electronically and transcends international borders, due to its innovative
characteristics and its growing popularity in the economic and technological
worlds, Bitcoin and other digital “currencies” are expected to become dominant,
leading to the need for processing its accounting. There are no guidelines on
how to process cryptocurrency transactions. The aim of this research is to define
a conceptual approach to accounting for encrypted digital currencies, and to
benefit from new theories. Qualitative analysis is applied where relevant studies
are analyzed to determine the main characteristics of cryptocurrencies and to
identify issues of accounting policy. The characteristics of encrypted digital
currencies and the issues of accounting policy constitute the main questions in
the questionnaire being analyzed. The analysis is carried out using the statistical
program Stata and statistics to clarify the relationship between the characteristics
of cryptocurrencies and the issues of accounting policy that are identified.
Where the study found that the accounting policy recommended by
cryptocurrencies is to recognize and measure the fair value

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