If a company converts cash to bitcoin, what is the current accounting treatment for that asset? Initially

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If a company converts cash to bitcoin, what is the current accounting treatment for that asset? Initially recorded at cost, then adjusted for fair market value as of the end of the period Cash and cash equivalents Intangible asset with an indefinite useful life Inventory

Posted Date: May 18, 2024 11:00 PM

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If a company converts cash to bitcoin, what is the current accounting treatment for that asset? Initially

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