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Account of Cryptocurrency in Settlements of Enterprise as Compared to Real Monetary Means
Tarasova T. O., Makurin A. A.

Tarasova, Tetiana O., and Makurin, Andrii A. (2020) “Account of Cryptocurrency in Settlements of Enterprise as Compared to Real Monetary Means.” Business Inform 8:190–195.
https://doi.org/10.32983/2222-4459-2020-8-190-195

Section: Accounting and Auditing

UDC 657

Abstract:
The article is aimed at defining the process of settlements in cryptocurrencies between enterprises and its accounting display. During the research, it was found that all participants using cryptocurrencies distribute risks among themselves. Due to the non-recognition of the cryptocurrency as payment means, the NBU as a regulator has fully abnegated its powers as to this issue. The strengths and weaknesses of the use of digital assets are considered and listed; the main risks are characterized. It is proposed to use a synthetic account of the second order of 128 «Digital Assets» for account of any crypto assets, in the context of which it is possible to open analytical accounts appropriate for account of specific cryptocurrencies. For example, one may use of 128.1 to account the cryptocurrency bitcoin cache; 128.2 – to account the bitcoin cryptocurrency; 128.3 – to account the ether cryptocurrency etc. In addition, to account for cryptocurrencies stored on crypto-wallets, such as Coinomi, it is proposed to use a synthetic account of the second order of 336 «Digital wallet». The reflection in the accounts of payments with cryptocurrency for goods is considered. It is determined that modern «accounting science» allows identifying and making certain corrections to the existing account plan for the accounting display of certain objects, such as digital money, cryptocurrencies. Therefore, the information function of accountance allows to conduct a continuous, uninterrupted and inter-relational reflection of economic activity. The results of the research show that it is not necessary to neglect such a digital asset as cryptocurrency. It can be stored on digital wallets and used as payment means on the Internet for the proposed goods, works or services.

Keywords: accounting of cryptocurrency, digital assets, digital wallet.

Tabl.: 5. Bibl.: 10.

Tarasova Tetiana O. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Analysis and Insurance, Kharkiv State University of Food Technology and Trade (333 Klochkіvska Str., Kharkіv, 61051, Ukraine)
Email: [email protected]
Makurin Andrii A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Audit, National Technical University «Dnipro Polytechnic» (19 D. Yavornytskyi Ave., Dnіpro, 49005, Ukraine)
Email: [email protected]

List of references in article

Qassim, A. “Cryptocurrency: Global Accounting Leaders Seek Guidance“. Bloomberg BNA. 2020. https://www.bna.com/cryptocurrency-global-accounting n57982091448
Zheliuk, T., and Brechko, O. “Vykorystannia kryptovaliuty na rynku platezhiv: novi mozhlyvosti dlia natsionalnykh ekonomik“ [The Use of Cryptocurrencies on the Payment Market: New Opportunities for National Economies]. Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu. 2016. http://dspace.tneu.edu.ua/bitstream/316497/14881/1/Желюк%20Т..pdf
Koriahin, M. V., and Liva, V. R. “Elektronni hroshi: osoblyvosti vykorystannia ta bukhhalterskyi oblik“ [E-cash: Features of the Use and Accounting]. Visnyk Natsionalnoho lisotekhnichnoho universytetu Ukrainy, no. 22.5 (2012): 241-246.
Kulish, R., and Slobodeniuk, O. “Yak vesty oblik bitkoiniv u bukhhalterii: pryklad realnoho biznesu“ [How to Keep Records of Bitcoins in Accounting: An Example of Real Business]. Bukhhalter 911. November 5, 2018. https://buhgalter911.com/uk/news/news-1040088.html
“Kryptovaliuty ta yikh mistse u finansovii systemi“ [Cryptocurrencies and Their Place in the Financial System]. https://knute.edu.ua/file/NjY4NQ==/02d193b6b501a0fd82d6798fc841e70b.PDF
“Kryptovaliuta v Ukraini: really or not?“ [Cryptocurrency in Ukraine: Really or Not?]. http://advisortax.org/?p=4766
Ofitsiinyi sait Bitcoin. https://www.bitcoin.com
Graydon, C. “What is cryptocurrency?“ https://www.ccn.com/cryptocurrency/
Myfin.by: vebsayt. https://myfin.by/cryptorates
Tarasova, T. et al. “Accounting and features of mathematical modeling of the system to forecast cryptocurrency exchange rate“. Accounting, vol. 6, no. 3 (2020): 357-364. DOI: 10.5267/j.ac.2020.1.003

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