Crypto assets like bitcoin might still drive headlines, but the broader digital asset space has continued to rapidly develop, expand, and create new questions for accounting professionals to answer. There is a new form of digital asset that accountants should be discussing: nonfungible tokens (NFTs).
What are these? How do we value these? What are the tax implications? What are the strategy implications for businesses? What are the risks we should be advising or clients on? How should we report these in our financial reports?
There are SO MANY questions to answer! So let’s get together and tackle this topic. We’ll start at the beginning and work our way through some of the most common questions being asked in the accounting industry around this topic.
This session will cover the following:
● What are NFT’s?
● What are the risks associated with NFT’s?
● Implications for the Accounting Industry:
○ Common complications that NFT’s cause for the accountant
○ Tax and NFT’s
○ Financial Reporting and NFT’s
○ Financial Management and NFT’s
○ Auditing and NFT’s
○ Strategy and NFT’s
● The future implications of NFT’s on the Accounting Industry
Accountants and business professionals who are interested in learning more about NFT’s and the implications of NFT’s on the overall accounting industry with regards to the different roles that accountants play in the economy.
