How should cryptocurrencies be classified in financial reporting?

QUESTION

How should cryptocurrencies be classified in financial reporting?

In the body of the report:

oFocus on your question. Include only elements that address your question(work you have done, data you have collected or considered, relevant arguments)
.oClearly present and explain your arguments. Use your own arguments and your own words; do not just paraphrase other people’s work.
oShow how your arguments relate to your question.
oBe neutral and consider all possible sides of an argument.
oExplain why your arguments make sense.

oUse simple logic and common sense. A good test of this is to explain your main argument to someone who is not in accounting: once you can explain in simple terms what you write about, you are good to go!

oDo not regurgitate class material. Rather, apply class material (e.g., to a new situation, accounting topic etc.)