{"id":22243,"date":"2023-12-13T12:35:10","date_gmt":"2023-12-13T16:35:10","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=22243"},"modified":"2023-12-15T22:38:03","modified_gmt":"2023-12-16T02:38:03","slug":"financial-accounting-standards-board-adopts-bitcoin-under-fair-value-accounting-in-treasury-reserve-asset-management","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/financial-accounting-standards-board-adopts-bitcoin-under-fair-value-accounting-in-treasury-reserve-asset-management\/","title":{"rendered":"Financial Accounting Standards Board Adopts Bitcoin Under Fair Value Accounting in Treasury Reserve Asset Management"},"content":{"rendered":"\"image16.jpeg\"Bitcoin fans from University of Illinois and Harvard\n
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Michael Saylor⚡️<\/a><\/b><\/td>\n<\/tr>\n
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FASB has officially adopted Fair Value Accounting for #Bitcoin<\/a> for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC<\/a> as a treasury reserve asset by corporations worldwide. fasb.org\/page\/getarticl\u2026<\/span><\/a><\/td>\n<\/tr>\n
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12\/13\/23, 9:45 AM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\"image0.jpeg\"FASB adopts \u2018fair value accounting\u2019 for bitcoin \n
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FASB let\u2019s us know Christmas came early in 2023 and companies with fiscal years starting After December 15 get the benefit of bitcoin on their balance sheet<\/figcaption><\/figure>\n
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Fair value accounting Larry Chiang<\/figcaption><\/figure>\n
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WordPress\u2019d from my personal iPhone, <\/span>650-283-8008<\/a><\/span>, number that Steve Jobs texted me on<\/span><\/div>\n

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\u2066\u202a@saylor\u202c\u2069<\/a> this is great news for corporations to have the fair value of their bitcoin treasury represented in their accounts.<\/td>\n<\/tr>\n
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Let’s break down what the adoption of Fair Value Accounting for #Bitcoin  by the Financial Accounting Standards Board (FASB) means👇<\/div>\n
👉Fair Value Accounting: This method involves assessing assets and liabilities at their current market value, rather than their historical cost. For Bitcoin, this means its value on financial statements will reflect real-time market prices.<\/div>\n
👉Impact on Corporate Adoption of #BTC : This change in accounting standards could make it more attractive for corporations to hold Bitcoin as a treasury reserve asset. Under Fair Value Accounting, Bitcoin’s volatile price changes will be directly reflected in financial reporting, providing a more accurate picture of its value as an asset.<\/div>\n
👉Facilitating Wider Adoption: With this change, corporations worldwide might be more inclined to include Bitcoin in their financial strategies. The ability to account for Bitcoin at its fair value could make financial statements more transparent and reflective of current market conditions.<\/div>\n
👉Starting in Fiscal Year 2024: The new standard will be applicable for fiscal years beginning after December 15, 2024. This gives corporations time to adjust their accounting practices and strategies accordingly.<\/div>\n
👉Bitcoin as a Mainstream Financial Asset: This move by the FASB is a significant step towards the mainstream acceptance of Bitcoin as a legitimate financial asset in corporate finance, acknowledging its growing relevance in the global financial system.💪<\/div>\n
In essence, this decision by the FASB is a recognition of Bitcoin’s increasing prominence and could pave the way for broader corporate investment in Bitcoin and cryptocurrencies. 🥳<\/div>\n

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\u2066\u202a@saylor\u202c\u2069<\/a> Let’s break down what the adoption of Fair Value Accounting for #Bitcoin<\/a> by the Financial Accounting Standards Board (FASB) means👇<\/p>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n👉Fair Value Accounting: This method involves assessing assets and liabilities at their current market value, rather than their historical cost.\u2026<\/p>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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12\/13\/23, 10:11 AM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n <\/td>\n<\/tr>\n
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    Michael Saylor⚡️ \u2066\u202a@saylor\u202c\u2069 FASB has officially adopted Fair Value Accounting for #Bitcoin for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC as a treasury reserve asset by corporations worldwide. fasb.org\/page\/getarticl\u2026   12\/13\/23, 9:45 AM     FASB let\u2019s us know Christmas came early […]<\/p>\n","protected":false},"author":1,"featured_media":22244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80],"tags":[],"class_list":["post-22243","post","type-post","status-publish","format-standard","hentry","category-deep-undergrad-crypto-knowledge-9"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/22243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=22243"}],"version-history":[{"count":5,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/22243\/revisions"}],"predecessor-version":[{"id":22369,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/22243\/revisions\/22369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media\/22244"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=22243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=22243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=22243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}