accounting

accounting

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When will there be an enterprise blockchain solution for Accounts payable and receivable?!? Surely anyone who works in that space (like me) can see the LUNACY of how the legacy tech operates. Clearing and settlement solutions with a universal ledger would make my life infinitely easier

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When can I off the busy tax season.. Fuk!🤡

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james pfp

Kicked off a passion project: accountants.xyz to highlight the best crypto partners for web3 teams in the space. If you know a great crypto accountant who supports businesses that should be featured -- DC me.

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Philanthropist⚡🎭🍌🎩

Financial statements are universally recognized documents summarizing a company's financial performance and position. They typically include the balance sheet, income statement, cash flow statement, and statement of changes in equity.

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Philanthropist⚡🎭🍌🎩

The authenticity of financial statements lies on the level of integrity and diligence of the external auditors.

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Philanthropist⚡🎭🍌🎩

IFRS requires gold and silver to be accounted for at fair value, with changes in value recognized in profit or loss unless they're held for investment.

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Philanthropist⚡🎭🍌🎩

A ledger account is a record used in accounting to track transactions related to a specific asset, liability, equity, revenue, or expense. It summarizes financial activity for reporting and analysis.

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Philanthropist⚡🎭🍌🎩

The trial balance, invented by Luca Pacioli in the late 15th century, is a fundamental accounting tool used to ensure the equality of debits and credits in double-entry bookkeeping, providing a snapshot of a company's financial position.

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Philanthropist⚡🎭🍌🎩

Universality in cryptocurrency accounting involves standardized methods applicable across jurisdictions, ensuring consistent financial reporting. It's crucial for transparency, regulatory compliance, and investor confidence, fostering trust in this evolving asset class amidst diverse global regulatory frameworks.

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Philanthropist⚡🎭🍌🎩

Dollarization, adopting or extensive use of the US dollar alongside domestic currency, impacts global economies via exchange rates, trade, and monetary policies. It often occurs in nations with unstable economies or high inflation rates.

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Philanthropist⚡🎭🍌🎩

International Financial Reporting Standards (IFRS) are globally accepted accounting principles used to prepare and present financial statements. They provide a common language for businesses, ensuring transparency, comparability, and consistency in financial reporting across borders.

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Philanthropist⚡🎭🍌🎩

Cryptocurrency internal controls involve robust encryption, multi-signature wallets, regular audits, and strict access protocols. Additionally, comprehensive risk assessments and compliance with regulations ensure transparency and security, mitigating fraud and unauthorized transactions.

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Philanthropist⚡🎭🍌🎩

Tax estimation on blockchain involves reporting and paying taxes on transactions, capital gains, and mining rewards. Regulations vary by jurisdiction, impacting income, sales, and property taxes. Compliance is crucial.

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Philanthropist⚡🎭🍌🎩

The account standard in blockchain and cryptocurrency refers to the protocols and rules governing the creation, management, and authentication of digital assets. It ensures transparency, security, and immutability of transactions within decentralized networks, fostering trust and reliability.

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Philanthropist⚡🎭🍌🎩

Forensic examination of cryptocurrency involves tracing transactions, analyzing blockchain data, identifying wallet addresses, and uncovering illicit activities like money laundering or fraud through digital forensic techniques and specialized tools.

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