Accounting for Holdings of Cryptocurrencies in the Slovak Republic: Comparative Analysis

IF 2.4 Q2 ECONOMICS

Contemporary Economics Pub Date : 2021-03-31 DOI:10.5709/ce.1897-9254.466

Miriama Blahušiaková

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引用次数: 3

Abstract

Cryptocurrency has attracted more attention recently. With the rapid increase in popularity of cryptocurrencies´ transactions it is necessary to adopt a unified approach to this novel, 21st century phenomenon. Since 2009, when the first cryptocurrency Bitcoin was created, thousands of other cryptocurrencies have appeared. As the transactions with cryptocurrencies have increased, national and multinational jurisdictions started to deal with issues concerning taxation and accounting for the cryptocurrency. Multinational jurisdictions and professional institutions differ in their opinions about cryptocurrencies. There are opinions considering cryptocurrency a financial asset, a financial instrument, cash, cash equivalents, inventories or intangible asset. As there is no accounting standard within IFRS specifically addressing cryptocurrency, it is necessary to look at the existing IFRS and apply a principles-based approach. The aim of the paper is to compare the accounting of cryptocurrencies in Slovakia with the requirements and/or recommendations by other standards setters and authorities. Slovakia is selected as it is one of the first countries launching accounting regulation for cryptocurrency. The analysis and comparison are used as the main scientific methods in this study. The IFRS IC in June 2019 concluded that IAS 2 applies to cryptocurrencies when they are held for sale in the ordinary course of business. If IAS 2 is not applicable, holdings of cryptocurrencies should be accounted for under IAS 38. The Slovak Republic is applying different approach to holdings of cryptocurrency, the cryptocurrency is considered the short-term financial asset. Difference between Slovak and multinational solution is even in questions of cryptocurrency´s measurement.

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斯洛伐克共和国加密货币持有量的核算:比较分析

最近，加密货币吸引了更多的关注。随着加密货币交易的迅速普及，有必要对这一21世纪的新现象采取统一的方法。自2009年第一个加密货币比特币诞生以来，已经出现了数千种其他加密货币。随着加密货币交易的增加，国家和跨国司法管辖区开始处理有关加密货币的税收和会计问题。跨国司法管辖区和专业机构对加密货币的看法不同。有意见认为加密货币是金融资产、金融工具、现金、现金等价物、库存或无形资产。由于国际财务报告准则中没有专门针对加密货币的会计准则，因此有必要查看现有的国际财务报告准则并采用基于原则的方法。该论文的目的是将斯洛伐克的加密货币会计与其他标准制定者和当局的要求和/或建议进行比较。斯洛伐克之所以被选中，是因为它是首批启动加密货币会计监管的国家之一。分析和比较是本研究的主要科学方法。IFRS IC于2019年6月得出结论，IAS 2适用于在正常业务过程中持有出售的加密货币。如果IAS 2不适用，则应根据IAS 38对加密货币的持有进行核算。斯洛伐克共和国正在采用不同的方法来持有加密货币，加密货币被认为是短期金融资产。斯洛伐克和多国解决方案之间的差异甚至存在于加密货币的测量问题上。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Contemporary Economics ECONOMICS-

CiteScore

3.70

自引率

9.50%

发文量

审稿时长

24 weeks

期刊介绍： The mission of the Contemporary Economics is to publish advanced theoretical and empirical research in economics, finance, accounting and management with the noticeable contribution and impact to the development of those disciplines and preferably with practice relevancies. All entirety of methods is desirable, including a falsification of conventional understanding, theory building through inductive or qualitative research, first empirical testing of a theory, meta-analysis with theoretical implications, constructive replication that clarifies the boundaries or range of a theory for theoretical research as well as qualitative, quantitative, field, laboratory, meta-analytic, and combination for an empirical research. This clear priority for comprehensive manuscripts containing a methodology-based theoretical and empirical research with implications and recommendations for policymaking does not exclude manuscripts entirely focused on theory or methodology. Manuscripts that raise significant, actual topics of international relevance will be highly appreciated. The interdisciplinary approach including – besides economic, financial, accounting or managerial –also other aspects, is welcomed.