The debate on how the various forms of cryptocurrency should be accounted for continues. Generally accepted accounting principles (GAAP) consider cryptocurrency to be an intangible asset that is recorded at cost, and impairment of the asset cost must be recorded. This means the value can be reduced on a balance sheet over time.

As the types and uses of cryptocurrencies change, the determination of how to account for them on the accounting ledgers may evolve. The value of digital currency is driven by supply and demand and the market for cryptocurrency is quite volatile resulting in issues of recording book value vs. FMV.

This course explores how to record these assets and appropriately recognize and measure activities of issuance and investment in various types of cryptographic assets?

As of early 2022, there are no accounting that address cryptographic assets. Accountants look at the existing IFRS and apply a principles-based approach.

This course is a complement to the course “Cryptocurrency 101”. Future courses will further delve into the complexities of the accounting process.

Learning Objectives
  • Identify the concepts of accounting for digital currencies.
  • Explore accounting for sub-categories of cryptocurrency.
  • Explore characteristics of cryptocurrency.
  • Discover and evaluate classifications of cryptocurrency.
  • Recognize and consider reporting issues.
  • Explore and examine methods to record cryptocurrency.
Last updated/reviewed: August 22, 2023
9 Reviews (44 ratings)


Anonymous Author
Provided clarity on accounting for crypto assets. Also liked that it included specific journal entries as well

Member's Profile
I am pleasantly surprised to score 80% on the final exam. This crypto stuff if some deep x&1?kn^. We are moving into a world of "virtualism" (I have made up this new word). and we need to maintain our composure and our attention to this issue. Thank you Lynn for updating us with these great courses. Best regards, Larry

Anonymous Author
Interesting course on beginning to understand cryptocurrency and the accounting process. Lynn always does a great job explaining the material. Looking forward to additional courses on this subject matter.

Anonymous Author
Good look into the thought process behind the accounting treatment. Very useful information.

Member's Profile
Very informative and helps you understand the basics of how to account for digital assets.

Anonymous Author
Informative overview of cryptocurrency and the accounting concepts involved with it.

Member's Profile
Great course on a complicated subject. Very clearly organized and presented.

Anonymous Author
good and interesting overview on how to account and report crypto

Anonymous Author
Very interesting perspective on how to account for crypto.

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Introduction to Accounting for Cryptocurrency9:28
  Accounting Subcategories3:48
  Characteristics and Classifications12:30
  Reporting Issues9:18
  Recording Cryptocurrency13:12
  Accounting for Cryptocurrency49:46
  Slides: Accounting for CryptocurrencyPDF
  Accounting for Cryptocurrency Glossary/ IndexPDF