Investing in blockchain technologies and digital assets: Accounting perspectives
This paper examines the complex landscape of digital currencies, non-fungible tokens (NFTs), and distributed ledger technology (DLT), focusing on their implications within the accounting and financial reporting sector. The surge in popularity of these assets has brought about reporting challenges an...
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| Format: | Article |
| Language: | English |
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University of Novi Sad - Faculty of Economics, Subotica
2024-01-01
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| Series: | Anali Ekonomskog fakulteta u Subotici |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/0350-2120/2024/0350-21202452119G.pdf |
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| _version_ | 1841554373038047232 |
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| author | Grujić Miloš Vojinović Željko |
| author_facet | Grujić Miloš Vojinović Željko |
| author_sort | Grujić Miloš |
| collection | DOAJ |
| description | This paper examines the complex landscape of digital currencies, non-fungible tokens (NFTs), and distributed ledger technology (DLT), focusing on their implications within the accounting and financial reporting sector. The surge in popularity of these assets has brought about reporting challenges and complexities. The lack of comprehensive accounting standards and the digitization of financial reporting processes further compound the situation. These challenges underscore the need to update accounting practices to align with the security and transparency offered by DLT. The study examines the International Financial Reporting Standards (IFRS) for digital currency reporting, analysing their implications and potential solutions for the accounting community. Central to this exploration is the question: How can the accounting sector navigate the multifaceted challenges and harness the multifarious opportunities that stem from digital currencies, NFTs, and DLT? Using a comprehensive research approach, including a literature review, empirical analysis, case studies, and comparative analysis, this study identifies strategies for managing the reporting complexities of digital assets. It also highlights the importance of collaborative dialogue between stakeholders and regulators to ensure consistency in an evolving landscape. This paper guides the accounting and investment sector in making informed decisions, fortified by a nuanced understanding of the evolving digital asset terrain. |
| format | Article |
| id | doaj-art-f85d6d41d6d14208bca022e3bfd5fcf0 |
| institution | Kabale University |
| issn | 0350-2120 2683-4162 |
| language | English |
| publishDate | 2024-01-01 |
| publisher | University of Novi Sad - Faculty of Economics, Subotica |
| record_format | Article |
| series | Anali Ekonomskog fakulteta u Subotici |
| spelling | doaj-art-f85d6d41d6d14208bca022e3bfd5fcf02025-01-08T14:38:03ZengUniversity of Novi Sad - Faculty of Economics, SuboticaAnali Ekonomskog fakulteta u Subotici0350-21202683-41622024-01-0120245211913610.5937/AnEkSub2300032G0350-21202452119GInvesting in blockchain technologies and digital assets: Accounting perspectivesGrujić Miloš0https://orcid.org/0000-0001-5566-5921Vojinović Željko1https://orcid.org/0000-0002-2685-5504Independent University of Banja Luka, Faculty of Economics, Banja Luka, Republic of Srpska, Bosnia and HerzegovinaUniversity of Novi Sad, Faculty of Economics, Subotica, SerbiaThis paper examines the complex landscape of digital currencies, non-fungible tokens (NFTs), and distributed ledger technology (DLT), focusing on their implications within the accounting and financial reporting sector. The surge in popularity of these assets has brought about reporting challenges and complexities. The lack of comprehensive accounting standards and the digitization of financial reporting processes further compound the situation. These challenges underscore the need to update accounting practices to align with the security and transparency offered by DLT. The study examines the International Financial Reporting Standards (IFRS) for digital currency reporting, analysing their implications and potential solutions for the accounting community. Central to this exploration is the question: How can the accounting sector navigate the multifaceted challenges and harness the multifarious opportunities that stem from digital currencies, NFTs, and DLT? Using a comprehensive research approach, including a literature review, empirical analysis, case studies, and comparative analysis, this study identifies strategies for managing the reporting complexities of digital assets. It also highlights the importance of collaborative dialogue between stakeholders and regulators to ensure consistency in an evolving landscape. This paper guides the accounting and investment sector in making informed decisions, fortified by a nuanced understanding of the evolving digital asset terrain.https://scindeks-clanci.ceon.rs/data/pdf/0350-2120/2024/0350-21202452119G.pdfnon-fungible tokensblockchain technologydigital currenciesfinancial reportinginternational accounting standards |
| spellingShingle | Grujić Miloš Vojinović Željko Investing in blockchain technologies and digital assets: Accounting perspectives Anali Ekonomskog fakulteta u Subotici non-fungible tokens blockchain technology digital currencies financial reporting international accounting standards |
| title | Investing in blockchain technologies and digital assets: Accounting perspectives |
| title_full | Investing in blockchain technologies and digital assets: Accounting perspectives |
| title_fullStr | Investing in blockchain technologies and digital assets: Accounting perspectives |
| title_full_unstemmed | Investing in blockchain technologies and digital assets: Accounting perspectives |
| title_short | Investing in blockchain technologies and digital assets: Accounting perspectives |
| title_sort | investing in blockchain technologies and digital assets accounting perspectives |
| topic | non-fungible tokens blockchain technology digital currencies financial reporting international accounting standards |
| url | https://scindeks-clanci.ceon.rs/data/pdf/0350-2120/2024/0350-21202452119G.pdf |
| work_keys_str_mv | AT grujicmilos investinginblockchaintechnologiesanddigitalassetsaccountingperspectives AT vojinoviczeljko investinginblockchaintechnologiesanddigitalassetsaccountingperspectives |