Crypto Asset Accounting: Cost Basis, Lots, Fair Value & Gains
Keep a fictional company's crypto books: purchase lots with fees, FIFO, specific ID and average cost, fair value under ASU 2023-08, the IAS 38 cost model with impairment, staking income, wallet reconciliation and the roll-forward, every cell checked live. Educational only, not tax advice.
The first lesson is free — no account needed.
About this course
A crypto asset accounting course that keeps the books of one fictional company, Norvale Robotics, in a spreadsheet, for accountants, auditors and accounting students who meet digital assets. You record purchase lots with exchange fees in the cost basis, match a sale to the lots with FIFO and with specific identification, run a weighted average cost pool through buys and sells, remeasure holdings to fair value every quarter with the change in net income as under ASU 2023-08, carry a token under the IAS 38 cost model with impairment and reversals never above cost, book staking rewards as income at fair value on receipt, reconcile on-chain wallet balances with the ledger, and finish with five journal entries and a roll-forward waterfall chart. General IFRS and US GAAP concepts, with no affiliation with the IASB or the FASB. Educational only, not tax or accounting advice. The first lab is free.
Lessons
- Purchase Lots & Cost Basis Including FeesFree
- Disposals: FIFO vs Specific Identification and the Realised Gain Pro
- Average Cost Method: the Running Cost Pool for Buys and Sells Pro
- Fair Value Remeasurement Each Quarter: Gains and Losses in Net Income Pro
- IFRS: IAS 38 Cost Model with Impairment, Never Above Cost Pro
- Staking Rewards: Income at Fair Value on Receipt Pro
- Wallet Reconciliation: On-Chain Balances vs the Ledger Pro
- Journal Entries & the Disclosure Roll-Forward (with a Waterfall Chart) Pro