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cirnuncamil19@stud.ase.ro

Author

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  • Camil-Ciprian Cirnu

    (The Bucharest University of Economic Studies, Romania)

Abstract

Cryptocurrencies have emerged as an instrument of exchange, typical of the role of money. But in a short time, due to high fluctuations. Cryptocurrencies have become derivative financial instruments because of large increases in a very short time. Like any financial instrument it had a correction period, which brought huge losses to investors. Accounting for cryptocurrencies is a common problem nowadays. This new method of exchange also affects the life of companies. At first cryptocurrencies directly affected individuals, but as their popularity grew, they began to become involved in the economic life of companies. These economic acts need to be reflected in the economic statements of companies. There is no clear regulation on how to account for these cryptocurrencies. The aim of the paper is to address the need for regulation in the crypto area. The new financial instrument to be presented in a company's financial statements.

Suggested Citation

  • Camil-Ciprian Cirnu, 2024. "cirnuncamil19@stud.ase.ro," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 604-608, August.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:604-608
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    More about this item

    Keywords

    cryptocurrencies; financial instrument; financial statements;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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