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The case of Bitcoins: Examining the financial accounting and reporting issues surrounding cryptocurrencies

Author

Listed:
  • Brandon, Duane
  • Holt, Travis
  • Jones, Jefferson
  • Long, James H.
  • Stanley, Jonathan

Abstract

After years of debate, the FASB recently formalized the authoritative financial reporting guidance for cryptocurrencies such as Bitcoin. This case requires you to determine the appropriate financial accounting treatment and assess the reporting implications for Bitcoin using FASB’s authoritative guidance. The modular nature of the case allows students to address these requirements for three different clients: a Bitcoin miner, a Bitcoin trader, and a retailer that accepts Bitcoin as payment. As students complete the case, they are required to think critically about how the new guidance affects each client. Several features of the case allow instructors to adjust the level of difficulty so that they can create case assignments that are appropriate for both undergraduate and graduate accounting classes. Students who completed the case report that they found it to be realistic, interesting, and challenging.

Suggested Citation

  • Brandon, Duane & Holt, Travis & Jones, Jefferson & Long, James H. & Stanley, Jonathan, 2024. "The case of Bitcoins: Examining the financial accounting and reporting issues surrounding cryptocurrencies," Journal of Accounting Education, Elsevier, vol. 67(C).
    • Handle: RePEc:eee:joaced:v:67:y:2024:i:c:s0748575124000186
    DOI: 10.1016/j.jaccedu.2024.100902
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    References listed on IDEAS

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    1. Gujarathi, Mahendra & Noga, Tracy, 2012. "Regal Hair Salon: Tax and financial reporting of gift cards," Journal of Accounting Education, Elsevier, vol. 30(1), pages 131-142.
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