FASB allows companies to report BTC at fair value on balance sheets
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Odaily reported that according to The Bitcoin Historian, the Financial Accounting Standards Board (FASB) in the US, which is responsible for establishing the Generally Accepted Accounting Principles (GAAP) for public companies, has allowed companies to report BTC at fair value on their balance sheets. With this rule in place, companies can use the Mark to Market (MTM) method to reflect unrealized fluctuating gains, and show potential speculative gains in their quarterly and annual financial reports.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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