With all of the issues with cryptocurrency volatility and frauds, and the release of the SEC Staff Accounting Bulletin No. 121, and the release of the FASB Board Decisions on accounting for crypto assets, the GENIUS Act, and the IRS concentration on reporting crypto assets, companies need to review their financial note disclosures if they received, or disposed of cryptocurrencies, or if they maintain crypto assets on their balance sheet even if they had no transactions in the current year.
This course will cover the required disclosure risks, known pending legislation or possible regulations, and other risks that companies using or holding crypto currencies should be discussing in their notes to the financial statements.
Who Should Attend
This course is appropriate for CPAs, CMAs, CIAs, CGMAs, CFEs, MAFFs, internal auditors, external auditors, managers, CFOs and others responsible for accounting for, or auditing crypto assets & liabilities.
Topics Covered
- Crypto Assets
- Crypto Currency
- Financial Statement Disclosures
- SEC Requirements
- FASB Requirements
- GENIUS Act Requirements
Learning Objectives
- Identify the requirements for disclosing crypto risks
- Identify basic financial statement disclosures for crypto
- Identify requirements in the GENIUS Act
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.