I am excited to announce two new educational programs which we will be starting up in the new year. Bitcoin Fundamentals for Accountants The goal of this program is to increase knowledge of bitcoin within the accounting profession. If we want businesses to move to a bitcoin standard, they will need professionals who are deeply […]
The Enron collapse was from before my time professionally but has been a case study in what not to do in every accounting/auditing textbook since. Given that it was over 20 years ago, a brief recap… the downfall of Enron was centered around losses trading derivatives in the energy market. Those losses were hidden in hundreds of […]
Most think of non-profits as risk-adverse organizations that are slow to make changes. While this certainly can be true, it is often not. Non-profits don’t have a traditional profit motive (hence the name), but they are driven to achieve a mission. So why would a volatile asset like bitcoin be suitable for a non-profit not […]
The Financial Accounting Standards Board (FASB) issued preliminary guidance that bitcoin should be valued at it’s “fair market value” on a company’s balance sheet. The article below gives the highlights, but I wanted to take a few minutes to address some questions bitcoiners might have regarding this change.