Current aspects of the cryptocurrency recognition in Ukraine-Reference-Cited by-同舟云学术

Current aspects of the cryptocurrency recognition in Ukraine

Published:2019-07-08 Issue:2 Volume:14 Page:203-213
ISSN:1816-7403
Container-title:Banks and Bank Systems
language:
Short-container-title:Banks and Bank Systems

Author:

Fomina Olena¹^ORCID,Moshkovska Olena²^ORCID,Avhustova Olena³^ORCID,Romashko Olha⁴^ORCID,Holovina Daria⁴^ORCID

Affiliation:

1. Doctor of Science, Professor, Head of the Department of Accounting and Taxation, Department of Accounting and Taxation, Faculty of Finance and Accounting, Kyiv National University of Trade and Economics

2. Doctor of Economics, Professor, Faculty of Accounting, Auditing and Information Systems, Department of Accounting and Taxation, Kyiv National University of Trade and Economics

3. Ph.D., Senior Instructor, Faculty of Accounting, Auditing and Information Systems, Department Accounting and Taxation, Kyiv National University of Trade and Economics

4. Ph.D., Associate Professor, Faculty of Accounting, Auditing and Information Systems, Department Accounting and Taxation, Kyiv National University of Trade and Economics

Abstract

Various mechanisms for implementation, and at the same time contradictory approaches to the essence, evaluation, reflection, and regulation, led to the need to consider and improve approaches to the recognition of cryptocurrency. Based on the critical analysis of the legal provisions in Ukraine and the approaches of scientific experts, practitioners and international experience, the economic essence of cryptocurrency is substantiated. The legal, economic and accounting aspects of cryptocurrency recognition in developed and transformational economies are revealed. In order to meet the information needs of users, the peculiarities of the application of methods for estimating cryptocurrency commodities and the influence of the chosen method on the reflection of such an asset in the financial statements have been identified. The necessity to clarify and harmonize existing national accounting standards for recognizing and reporting on cryptocurrency transactions has been identified. The proposed approach to the identification and recognition of cryptocurrency goods will improve the relations between the owners of cryptocurrency and the state, legalize cryptocurrency transactions and form an effective system for managing such transactions in Ukraine.

Publisher

LLC CPC Business Perspectives

Subject

Finance,Management of Technology and Innovation,Marketing,Organizational Behavior and Human Resource Management,Law

Link

https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/12236/BBS_2019_02_Fomina.pdf

Reference43 articles.

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