Blockchain Accounting and Audit
Blockchain Accounting and Audit

Top reasons clients choose Aprio

For Blockchain Accounting and Audit

Navigate the domestic and international accounting challenges associated with tokenization, initial coin offerings and cryptocurrency with a leader in the industry that has been providing blockchain audit and accounting services since 2013.

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Mitchell

Kopelman, CPA

Partner-in-Charge, Technology Practice

Co-Chair Tax Practice


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Our experience

Leverage Aprio’s crypto accounting and financial reporting best practices to maximize value of your blockchain ventures.

Operationalize your blockchain business model with Aprio’s Blockchain CPAs

Let Aprio simplify your blockchain accounting to fully realize the benefits that blockchain can deliver, including:

  • 1

    Better transaction tracking and forecasting through double-entry accounting
  • 2

    Distributed ledgers for real-time transactional transparency
  • 3

    Streamlined trade and supply chain finance through blockchain banking
  • 4

    Verification of performance and enforcement of negotiations using smart contracts

Crypto accounting and compliance

Those already using blockchain and those considering implementing a solution need to understand their regulatory and accounting obligations to manage risk and safeguard value.

Here are just a few of the compliance challenges Aprio helps clients navigate everyday.

 

  • Determine how ASC 606, Revenue from Contracts with Customers, will impact your net income and KPIs such as EBITA
  • Recognize revenue of tokens for GAAP and tax, including deferral of revenue and timing of recognition
  • Account for the GAAP and tax consequences of transferring virtual currency to your employees and non-employees
  • Determine whether the issuance in exchange for cryptocurrencies or fiat should be recognized as revenue, liability or equity for tax and GAAP purposes
  • Address consolidation requirements under the Variable Interest Entity (VIE) rules

Audit readiness

Improve the accuracy of your crypto accounting and financial reporting and the efficiency and effectiveness of the internal controls of key operating cycles with Aprio.

 

  • Reconcile transactions to/from your wallet, your proprietary platform, the blockchain and the general ledger
  • Calculate realized and unrealized gains/losses and corresponding adjustments to your cryptoasset balances
  • Establish templates to facilitate the effective presentation of information for audit
  • Model KPIs relevant for your business

Aprio will advise and train your accounting team to ensure a smooth transition and operations.

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