Show how a change to the accounting for bitcoin as inventory under IFRS would affect MicroStrategy's 2020 financial statements and its return on assets (ROA) for the year 2020. For your adjustments, you can use the same tax rate as MicroStrategy does in its reporting of non-GAAP net income for the year 2020. Note that the company owned 70,469 bitcoins at the end of fiscal year 2020, and each bitcoin had cost $16,109 on average. The bitcoin closing price on December 31, 2020, was $29,000. Could you please make the calculation on this question?

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To address this question we need to make adjustments to MicroStrategys financial statements for the year 2020 based on the change in accounting treatm... View the full answer