Accounting for Digital Assets Under U.S. GAAP: Crypto lending and borrowing - Society of Louisiana Certified Public Accountants

Overview

Crypto lending and borrowing

As you or your clients begin exploring new ways to transact with crypto assets, one of the many possibilities is through involvement with crypto lending and borrowing. Understanding the process of lending and borrowing crypto assets is the first step.

You’ll learn the fundamentals related to these transactions and accounting considerations from the perspectives of both lenders and borrowers.

Note: This webcast has been updated to cover FASB issued ASU No. 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, which is effective for all entities for fiscal years beginning after December 15, 2024.

Part four of a series

This webcast is part four of a series that will bring to life the content incorporated in the AICPA Practice Aid Accounting for and Auditing of Digital Assets.

This webcast will walk you through:

The process of borrowing and lending crypto assets

Crypto lending accounting considerations including derecognition models

Crypto borrowing accounting considerations including how to account for the obligation.

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Whether you're a CPA working with clients or an industry accountant responsible for corporate accounting policy, you'll gain a clear path to help your clients or entity by applying the appropriate accounting standards to digital asset crypto lending and borrowing activities.

Detailed examples and use cases will demonstrate the real-world application of this guidance.

You'll learn valuable information to open your world of crypto assets even more.

Highlights

What is crypto lending?

The meaning of commonly used crypto lending terms

How the nature of the crypto asset and the terms of the lending arrangement affect accounting arrangements

Which disclosures are applicable based on the facts and circumstances

FASB ASU No. 2023-08,

Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets

Prerequisites

An understanding of digital assets

Designed For

Public accounting professionals

Management accountants

Consultants with financial clients

Financial services professionals

Objectives

Identify the process of borrowing and lending crypto assets.
Determine how lenders should account for crypto lending arrangements.
Recognize how borrowers should account for crypto lending arrangements.