Welcome to the “Accounting for Cryptocurrencies: Transactions, Tracking & Tax” with Kirk Phillips. This presentation was delivered on Wednesday, August 28th 2019.

This session will educate professionals, particularly accountants and CPAs (but also financial advisors and lawyers), about the nuances and challenges with cryptocurrency accounting for business entities (and by default individuals).

Using and securing cryptocurrency is one thing but accounting for it is another. The unique aspects of cryptocurrency create simultaneous parallel transactional paths one for taxable events and one for business operations for every single transaction. Meanwhile, limitations of key data points and other information (normally considered basic accounting information) with block explorers, exchanges and wallets coupled with client’s poor crypto process flows creates a challenging landscape for professionals to navigate.


Kirk Phillips (@thebitcoincpa) is author of The Ultimate Bitcoin Business Guide™. He wrote and produced the AICPA’s Blockchain Fundamentals Course in 2018 and he is completing the Blockchain for Insurance Course 2019. He is also a member of the AICPA Virtual Currency Task Force which issued a revised IRS comment letter on virtual currencies in May 2018. Kirk regularly speaks and educates CPAs and attorneys on blockchain and cryptocurrencies and also has a boutique consulting practice in the space. He is one of the first Certified Bitcoin Professionals (CBP) and the first CPA to accept bitcoin in 2014. Kirk is founder of CryptoProResource.com, a resource for accounting, audit and finance professionals, a principal in Blockchain Catalytics, LLC, an advisor to AuditChain and numerous other projects.

Follow the CryptoCurrency Certification Consortium (C4) at:

Follow the Blockchain Training Conference at:

Kirk’s slides can be found here:

Prerequisite: A basic understanding of blockchains and/or Bitcoin will be helpful.

Kara Haas, CPA joins me to discuss Bitcoin auditing and accounting. Especially in relation to Tether, there are many people confused about what an audit is, versus an attestation. And also, some confusion on the correct accounting treatment for Bitcoin. As an accountant and auditor in the field, Kara is able to shed some light on this.

• Accounting treatment for Bitcoin as an intangible, not at fair market value
• Tether – Financial Statement Audit vs Attestation vs Consulting
• Blockchain timestamping

Kara Haas links:

• Kara Haas Twitter https://twitter.com/dividebynine
• Kara Haas website https://www.krhpa.com/

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