How does modified accrual vs accrual affect the financial reporting of digital currencies?

1 answers

• May 01, 2022 · 3 years ago
  At BYDFi, we believe that accrual accounting is the preferred method for financial reporting of digital currencies. It provides a more accurate representation of the economic value of digital currencies and helps investors and stakeholders make informed decisions. Accurate financial reporting is crucial in the digital currency industry, as it builds trust and credibility. Therefore, we encourage digital currency exchanges and platforms to adopt accrual accounting for their financial reporting to ensure transparency and accountability.
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