Bitcoins do not qualify as cash, financial assets, or property, plant and equipment since they are volatile and not tangible items. Bitcoins held for sale in the ordinary course of business could be considered inventory. Bitcoins may meet the definition of an intangible asset as they are identifiable non-monetary assets without physical substance.

1. Accounting
for
Bitcoins
AskKtpAcc
AskThkAcc
29/11/21
Cash ? Inventory ? Financial Assets ?
PPE ? Intangible Assets ?

2. Cash ?
AskKtpAcc
AskThkAcc
29/11/21
Emm. Bitcoin is too volatile ! Cash is
readily convertible to known amounts of
cash and which are subject to an
insignificant risk of changes in value.

3. Financial
Assets?
AskKtpAcc
AskThkAcc
29/11/21
Emm. It does not represent cash, an
equity interest in an entity, or a contract
establishing a right or obligation to
deliver or receive cash or another
financial instrument.

4. Property,
Plant &
Equipment ?
AskKtpAcc
AskThkAcc
29/11/21
Emm. Bitcoin is not tangible items.

5. Inventory?
AskKtpAcc
AskThkAcc
29/11/21
Emm..may be appropriate if an entity hold
bitcoins for sale in the ordinary course of
business.

6. Intangible
Assets?
AskKtpAcc
AskThkAcc
29/11/21
Emm.. appear to meet the definition of an
intangible asset which define as an
identifiable non-monetary asset without
physical substance.