Thus, Jacyk T. V. in his publication notes that it is necessary to use such
correspondence of accounts in order to reflect, for example, the introduction of Bitcoin
in the authorized capital of an enterprise in the account (Table 1).
Table 1 Reflection of cryptocurrency transactions in the accounting [1]
Contents of business operations
Debit
Credit
Total
The debt of the participant (the
founder) for contributions to the
authorized capital is shown.
46 “Unpaid capital”
40
“Registered capital”
175000
A contribution to the authorized
capital in the form of an intangible
asset Bitcoin-wallet is shown.
127 “Other intangible
assets”
46
“Unpaid capital”
175000
Cryptocurrency generated by own
informational and technical means
is shown in accounting.
425
“Another extra
capital”
127 “Other intangible
assets”
2000
Smart-card refill (electronic wallet
from current account in national
currency)
336 “Electronic
wallet”
311 “Current accounts in
national currency”
90000
Fee for payment card refill
92 “Administrative
expenses”
333 “Cash in transit in
national currency”
5000
Payment of raw materials using an
electronic wallet
372
“Settlements with
accountable persons”
336
“Electronic wallet”
30000
Bitcoin cryptocurrency purchase
for electronic money
127 “Other intangible
assets”
336
“Electronic wallet”
25000
Thus, the author suggests to display Bitcoin-wallet as an irreversible tangible
asset. Moreover, in order to determine the book value of this Bitcoin-wallet, it is
proposed to involve the appraiser, who defines the cost of Bitcoin based on the latest
data of cryptocurrency exchanges [1].
In scientific researches Petruk O.M. and Novak O.S. note that in terms of
provisions of IAS 38 such financial assets include financial instruments retained for
profit due to short-term price fluctuations, exchange rates, quotations and resale during
the fiscal year. These can be cripples, bank metals, investment coins, property tools,
etc. [2]. The authors cite an example of cryptocurrency operation on the accounts
(Table 2).
Table 2 Typical realizations of purchase / sale of cryptocurrency [2]
Contents of business operations
Debit
Credit
Total
The purchase of cryptocurrency is
shown (the cost of a financial
investment is determined)
352 “Other current
financial
investments”
311 “Current accounts in
national currency”
2618560
Cryptocurrency realization is
shown
377 “Settlements with
other debtors”
741 “Revenue from the sale
of financial investments”
6583140
The cost of the realized financial
investment is written off
971 “Cost of realized
financial
investments”
352 “Other current financial
investments”
2618560
Cash withdrawal is shown
311 “Current
accounts in national
currency”
377 “Settlements with other
debtors”
6583140
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