{"id":448,"date":"2025-08-21T13:55:49","date_gmt":"2025-08-21T13:55:49","guid":{"rendered":"https:\/\/pierag.com\/?p=448"},"modified":"2025-08-21T13:55:49","modified_gmt":"2025-08-21T13:55:49","slug":"final-standard-on-crypto-assets","status":"publish","type":"post","link":"https:\/\/pierag.com\/US\/final-standard-on-crypto-assets\/","title":{"rendered":"Final Standard on Crypto Assets"},"content":{"rendered":"<p>The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-08 on December 13, 2023. The ASU aims to address concerns raised by stakeholders regarding the current accounting for holdings of crypto assets. Currently, in most cases, holdings of crypto assets are accounted for as indefinite-lived intangible assets which is a cost-less-impairment accounting model. Stakeholders stated that this model does not provide investors with decision-useful information. Since in this model, only the decrease in asset value is accounted for (not the increase) until they are sold, it does not reflect the underlying economics of the assets and the entity&#8217;s financial position.<\/p>\n<p>The new guidance introduced in the ASU requires entities to subsequently measure certain crypto assets at fair value, with changes in fair value recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets.<\/p>\n<p>Entities will be required to adopt the ASU for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-08 on December 13, 2023. The ASU aims to address concerns raised by stakeholders regarding the current accounting for holdings of crypto assets. Currently, in most cases, holdings of crypto assets are accounted for as indefinite-lived intangible assets which is a cost-less-impairment accounting model. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Final Standard on Crypto Assets - Pierag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pierag.com\/US\/final-standard-on-crypto-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Final Standard on Crypto Assets - Pierag\" \/>\n<meta property=\"og:description\" content=\"The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-08 on December 13, 2023. The ASU aims to address concerns raised by stakeholders regarding the current accounting for holdings of crypto assets. Currently, in most cases, holdings of crypto assets are accounted for as indefinite-lived intangible assets which is a cost-less-impairment accounting model. 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