Accounting for Business Crypto Transactions
This course provides a practical, GAAP-focused framework for accounting for cryptocurrency transactions in a business setting. Learn how to record, measure, and present crypto transactions—from customer payments to asset holdings—while understanding their impact on financial statements and earnings volatility.
Course Description
Course 3 of 6 in our Crypto Accounting Learning Path! Cryptocurrency is increasingly showing up in everyday business transactions, often before organizations fully understand the accounting and financial reporting implications. From accepting crypto as customer payment to holding digital assets on the balance sheet, these transactions can create significant risk if they are not accounted for correctly under U.S. GAAP.
This course provides a practical, real-world framework for accounting for business crypto transactions. It focuses on how crypto enters organizations, the role of third-party payment processors, and why transaction structure and conversion timing drive accounting outcomes. Participants will explore revenue recognition, fair value measurement, asset recognition, subsequent measurement, gains and losses, and financial statement presentation and disclosures, with an emphasis on professional judgment, consistency, and clear financial reporting.
In this course, you'll learn...
Course Objectives
To record cryptocurrency transactions when businesses accept crypto as payment.
To apply appropriate journal entries for receipt, holding, and conversion of cryptocurrency.
To recognize gains and losses related to cryptocurrency transactions.
To identify key financial statement presentation and disclosure considerations.
How you'll apply these skills...
Record Crypto Transactions: Apply U.S. GAAP to customer payments, vendor transactions, and crypto-related settlements
Measure Fair Value Correctly: Determine fair value at receipt and during subsequent measurement periods
Assess Asset Recognition: Decide when cryptocurrency should or should not be recognized on the balance sheet
Account for Gains and Losses: Identify and record market-driven gains and losses separately from operating results
Explain Financial Statement Effects: Clearly communicate how crypto impacts revenue, earnings volatility, and disclosures
Course Instructor
Michael Carroll, CPA, CISA, CISM
Michael is an accounting and information security professional. He is also an Adjunct Professor at several higher education institutions, where he is responsible for teaching various accounting and information technology courses.
Michael earned his MBA in Accounting and B.S. in Accounting / Accounting Information Systems from Canisius University. Additionally, Michael is a Certified Public Accountant (CPA) and a Certified Information Systems Security Professional (CISSP). Michael is a current member of the NYCPA’s Education Committee and has been an Advisory Board Member for the Academy of Finance (AOF) since 2020.
Michael enjoys traveling, hiking, and watching the Buffalo Bills. He has also participated in several marathon events.
Course Content
Additional Info
Format
5-20 min. videos, 2 quizzes, and a final assessment
Field of study
Accounting
CPE Credits
CPEs 3.0
Prerequisites
Completion of the first two courses in Wisdify’s Crypto Accounting Learning Path is recommended.