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The popularity of cryptocurrencies has soared in recent years, yet they do not fit easily within IFRS’ financial reporting structure. But what are the acceptable methods of accounting for holdings in cryptocurrencies?
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB). These changes have the potential to significantly impact the presentation of a complete set of financial statements and 2025 is no different.
This publication identifies key financial reporting areas that entities should consider when evaluating the impact of tariffs and uncertain economic conditions on their business and financial statements.
The International Accounting Standards Board regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards (IFRIC) or amendments to existing IFRS Standards. In response to these, the global IFRS team publishes IFRS Alerts on these changes. Doane Grant Thornton is pleased to share our Alerts with you.
In April 2024, the International Accounting Standards Board (IASB) issued the new accounting standard, IFRS 18 ‘Presentation and Disclosure in Financial Statements’. This will replace the existing IAS 1 ‘Presentation of Financial Statements’ standard that has been in use for many years.
