Digital Currency and Cryptocurrency

Service Description

Day 1: Introduction to Digital Currency and Cryptocurrency Understanding Digital Currency • Introduction to Digital Currencies and Cryptocurrencies. • History and Evolution of Cryptocurrency. • Key Terminology (Blockchain, Wallets, Tokens, etc.). • Legal and Regulatory Frameworks Worldwide. Blockchain Technology and Accounting Principles • In-depth look at Blockchain Technology. • How Blocks and Transactions Work. • Security and Decentralisation Features. • Practical Demo: Creating a Simple Blockchain. Day 2: Cryptocurrency Mining and Technology Cryptocurrency Mining • Introduction to Cryptocurrency Mining. • Proof-of-Work vs. Proof-of-Stake. • Mining Hardware and Software. • Mining Pools and Rewards. Wallets, Security, and Accounting Principles • Types of Wallets (Hardware, Software, Paper). • How Wallets Store Private Keys. • Securing Your Crypto Assets. • Cold Storage and Multi-Signature Wallets. • Application of IFRS and GAAP: Recognising Cryptocurrency Holdings in Wallets. Day 3: Trading and Investment in Cryptocurrency Cryptocurrency Exchanges • Types of Cryptocurrency Exchanges. • Trading Pairs and Liquidity. • Market Orders, Limit Orders, and Stop Orders. • Risk Management in Crypto Trading. Investment Strategies and Accounting Standards • Long-Term vs. Short-Term Investment. • Portfolio Diversification. • Analysing Cryptocurrency Projects. • ICOs and Token Sales. • IFRS and GAAP Application: Evaluating Cryptocurrency Investments and Impairment. Day 4: Cryptocurrency Accounting and Taxation Accounting for Cryptocurrency and IFRS/GAAP • Recognising Cryptocurrency as an Asset. • Accounting Standards (e.g., IFRS, GAAP). • Fair Value Measurement and Impairment. • Practical Exercises: Recording Crypto Transactions. Taxation of Cryptocurrency and IFRS/GAAP • Taxation Laws and Regulations. • Capital Gains Tax and Income Tax. • Tax Reporting and Filing. • Crypto Taxation Strategies. • IFRS and GAAP Application: Reporting Cryptocurrency Holdings in Financial Statements. Day 5: Advanced Topics and Future Trends Hedging, Risk Management, and Accounting Standards • Cryptocurrency Derivatives (Futures, Options). • Hedging Against Price Volatility. • Risk Mitigation Strategies. • Applying IFRS/GAAP in Cryptocurrency Risk Management. Future Trends, IFRS/GAAP Compliance, and Final Assess • Emerging Technologies. • Regulatory Developments. • The Future of Cryptocurrency. • IFRS and GAAP Compliance in Cryptocurrency Accounting.