Crypto assets: accounting policies adopted in latin america through a comparative vision

Abstract

Objective: The objective of this work was to analyze the treatment of Crypto Assets (hereinafter, CA) from the accounting perspective;

Method: A documentary, descriptive and comparative analysis study was available of the accounting standards aimed at the registration of CAs and the pronouncements of the issuing organizations, as well as the opinion of the doctrine in relation to the document issued by the Committee. of IASB Interpretations.

Limitation of scope: Due to the diversity of CAs and the limitations inherent to the present dimension, the focus has been on those that serve as a means of payments, such as Bitcoin, Ether, Litecoin and others. Justification: The justification is given by the absence of specific regulations by the International Accounting Standards Board (hereinafter, IASB), which represents a challenge for accounting registrars in terms of choosing the policy to be applied so that results in relevant and reliable information.

Findings: It has been confirmed that due to the recurrent use of this new means of payment, some States came forward and issued internal regulations or interpretations. The main finding of this work is the heightened criteria of the organizations and the doctrine for the recognition according to the purpose of the entity, and how the Mexican and Venezuelan regulations are aligned with the interpretation of the Council for the Interpretation of Financial Reporting Standards (hereinafter, IFRIC)(findings), however the gaps persist, which It merits that the IASB once again include it in its agenda, as well as greater efforts on the part of unilateral organizations and academia in seeking to broaden the debate to find plausible solutions.