HEC-Ecole de gestion de l'Université de Liège
HEC-Ecole de gestion de l'Université de Liège

Accounting for cryptographic assets and related transactions

Mounis, Meryam ULiège
Promotor(s) : Schumesch, Patrice ULiège
Date of defense : 5-Sep-2022/10-Sep-2022 • Permalink :
Title : Accounting for cryptographic assets and related transactions
Author : Mounis, Meryam ULiège
Date of defense  : 5-Sep-2022/10-Sep-2022
Advisor(s) : Schumesch, Patrice ULiège
Committee's member(s) : Depraetere, Pauline ULiège
Language : English
Number of pages : 80
Keywords : [fr] Cryptographic assets, cryptocurrecnies, diigital assets
Discipline(s) : Business & economic sciences > Accounting & auditing
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Financial Analysis and Audit
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège


[fr] This paper analyzed the adequacy of existing accounting standards for the recognition, measurement, and disclosure of cryptographic assets and their implications for financial reporting. As a conceptual paper, it uses the accounting policy and procedures prescribed in current IFRS , IAS, and ACS standards to derive a logical conclusion.
The paper concludes that the appropriate accounting treatment for cryptographic assets is IAS 2 on accounting for inventories, taking into account the findings and interpretation of the IFRS interpretation committee that if the sale of a cryptocurrency is the principal activity of the company, it is appropriate to account for it under IAS 2 and under IAS 38 if cryptographic assets don’t meet the definition of inventories. Under IAS 38, it is possible to measure cryptocurrencies under the cost model or the revaluation model, which confirms the existence of an active market for cryptographic assets with sufficient information and frequency of transactions to provide a pricing policy continuously by IFRS 13. Moreover, it was concluded that under US GAAP it is appropriate to account for these assets as intangible assets under ASC 350, whether held as a principal activity or investment. However, since the Belgian GAAP doesn’t cover the accounting of cryptographic assets by holders, the CNC only discussed cryptocurrencies used as a means of exchange and suggested accounting for them as other receivables. Furthermore, through the analysis of companies' reporting of cryptographic assets, it was concluded that stablecoins can be considered financial instruments under IFRS and US GAAP.
This study confirmed the complexity of accounting for cryptographic assets by companies and highlighted the need for specific accounting standards that deals with these digital assets.



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  • Mounis, Meryam ULiège Université de Liège > Master sc. gest., à fin.


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