Crypto Assets in the System of Accounting and Reporting

The aim of the article is to identify and justify the prospects for solving the problem of integrating new cryptographic objects into the accounting and reporting system. Despite the lack of legal and regulatory framework for using the attributes of the digital economy, the emphasis is placed on the need to generate the accounting status of crypto assets. The problems of crypto assets (cryptocurrencies and other, different form cryptocurrencies, tokenized assets) as accounting objects are identified. The issue of identification of cryptocurrencies for accounting purposes (cash, cash equivalents, currency, commodities, stocks, financial investments, intangible assets, etc.) is investigated. There defined problems of documentary evidence of transactions performed with crypto assets; identification of the type of assets to which certain tokenized assets should be attributed; determination of the method for evaluating crypto assets in order to ensure a reliable reflection of their value; ensuring an adequate system of internal control of transactions with crypto assets. There formulated an assumption about the problematic nature of the application of a universal approach to the reflection of crypto assets in the accounting system due to their diversity and differences in the functions they perform. It is recognized that the accounting of crypto assets is rather complex in terms of methodology, but it is an extremely new and promising problem that requires a comprehensive solution

Digital accounting: innovative technologies cause a new paradigm

The article is dealing with the concept of “digital accounting", highlights its historical origins and current discourse in the contextual relationship and interdependence of accounting and information technology. Accordingly, the issues of rethinking the role and place of accounting in the digital economy, the study of changes in its semantic, methodological and conceptual principles under the influence of the growth of information potential of the digital economic space become relevant. Since the modern period is a qualitatively new stage in the development of accounting, which in all its aspects is undergoing of significant changes, it should accordingly lead to the transition to a new digital accounting paradigm