Which digital currencies are included in current liabilities?

3 answers

• May 05, 2022 · 3 years ago
  In accounting, digital currencies are considered as current liabilities if they are expected to be settled within one year or the normal operating cycle of a business, whichever is longer. Factors that determine whether a digital currency is classified as a current liability include its maturity date, contractual terms, and the intention of the holder to settle the liability within the next year.
  399

  200
• May 05, 2022 · 3 years ago
  Digital currencies such as Bitcoin, Ethereum, and Ripple can be classified as current liabilities if they meet the criteria of being expected to be settled within one year or the normal operating cycle of a business. However, it's important to note that the classification of digital currencies as current liabilities may vary depending on the specific circumstances and accounting standards followed by an organization.
  420

  140
• May 05, 2022 · 3 years ago
  According to BYDFi, a leading digital currency exchange, the classification of digital currencies as current liabilities is determined based on their expected settlement timeframe. If a digital currency is expected to be settled within one year or the normal operating cycle of a business, it is classified as a current liability. However, it's worth mentioning that the classification may differ among different exchanges and organizations based on their own policies and accounting standards.
  494

  124