Australian Government Pushes for Bitcoin Accounting Standards …

Bitcoin Watch Shop


The Australian government’s financial stating standards group is pulling for general movement in a area of digital currencies.

The Australian Accounting Standards Board (AASB), a supervision group tasked with overseeing a country’s stating standards, has published a new position paper forward of a Dec assembly of members from a International Accounting Standards Board (IASB). In sum, a paper argues that a some-more tangible customary is indispensable both for digital currencies as good as other kinds of unsubstantial assets.

The doubt of accounting standards has come adult in a past, though a AASB’s paper competence be one of a some-more material to date. Its recover comes amid a argumentative pierce by a Internal Revenue Service, a tip US taxation agency, to find user annals from digital banking sell Coinbase.

According to a AASB paper, “clear” superintendence is indispensable by accountants operative with people or companies that hoop digital currencies.

The paper’s author, Deloitte executive Henri Venter, wrote:

“In a opinion, given a problems identified and a fast expansion of digital currencies, customary environment activity is compulsory to yield transparent accounting superintendence for preparers and to safeguard that financial statements yield applicable and useful information

Read more ... source:

Advertise on the Bitcoin News

Do you like The Bitcoin News ? Thank you for Support us !
ETH: 0xa829E61Cc130b4f02fbfc9D7763361a550C7f824