The essence of the crypt is a methodological prerequisite for its accounting reflection
Journal Title: Вісник Житомирського державного технологічного університету. Серія: економіка, управління та адміністрування - Year 2017, Vol 82, Issue 4
Abstract
The research deals with the issue of reflection in accounting cryptocurrencies and the ways of solving it through determining the economic essence of such currencies. The purpose of the research is the analysis such economic phenomenon as cryptocurrency and formation of appropriate methodological approaches to its accounting reflection, that requires the identification of the object, the study of the methods of its assessment, the clarification of reflection on the appropriate accounts, the determination of place in reporting. The author generalizes the existed achievements of domestic and foreign researchers about the issues of accounting cryptocurrencies, differentiates between the concept of «cryptocurrency» and «electronic money», and proves that according to a set of features cryptocurrencies do not meet the requirements of the definition of «money», that is why, cryptocurrencies cannot be reflected into the enterprise balance sheet under article «Funds and their equivalents». Using the functional approach to the definition of cryptocurrency as the accounting object and the methods of comparison and analogy, the paper substantiates the order of its reflection as a variety of financial investments applying the special methods of accounting, such as assessment, accounts, and reporting.
Authors and Affiliations
O. M. Petruk, O. S. Novak
Keywords
Related Articles
- EP ID EP274368
- DOI -
- Views 152
- Downloads 0
Features of competitive brand positioning
The article reflects the latest trends in positioning and its impact on the brand effectiveness. The concept of a brand is considered. A trademark is examined as the priority component of enterprise’s intangible assets,...
Cluster structurization as basis for circular economy state policy implementation: regional level
The article substantiates the expediency of cluster structurization application while forming and realization of the concept of circular economy both at the national level and taking into consideration regional peculiari...
Strategic management of state economic security on the basis of social responsibility
Economic security is the basis of economic sovereignty of the state. Another important task is to strengthen the social responsibility of the state and business in solving the most urgent problems of guaranteeing economi...
Formation of reserves to cover loss from depreciation of stocks of retail trade enterprises
Nowadays, the most significant and widely researched accounting innovation is forming the reserve system of a business unit under conditions of sustainable development. The research proves the necessity of forming the re...
State ecological policy of Ukraine and legal mechanism of its formation and implementation
The paper identifies the strategical objectives of state ecological policy, which are declared in official documents of Ukraine for the stage of its independence and due to them, the vectors of the state ecological polic...