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Blockchain for Decision Makers

You're reading from  Blockchain for Decision Makers

Product type Book
Published in Sep 2019
Publisher
ISBN-13 9781838552275
Pages 184 pages
Edition 1st Edition
Languages
Concepts
Author (1):
Romain Tormen Romain Tormen
Profile icon Romain Tormen
LinkedIn
Romain Tormen is a senior consultant for PwC, a worldwide consulting firm. He has experienced digital transformation within several industries and different business units. Specialized in emerging technologies, he promotes to his clients the use of blockchain for better transaction security, transparency, disintermediation, and third-parties authentication. As a contributing writer for one of the most-read tech-oriented website hackernoon, Romain gives business insights and provides use-cases for a broad range of industries.
See other products by Romain Tormen

Table of Contents (16) Chapters

Title Page
Copyright and Credits About Packt Contributors Preface 1. Basics of Blockchains and the Illustration of Village Beta 2. A Technical Dive into Blockchain 3. Ethereum and Smart Contracts 4. ICOs and Tokenized Fundraising Methods 5. An Economic and Historical Approach of Blockchain 6. Blockchain Legality, Compliance, and Regulation 7. Blockchain for the Business World and Achievements 8. Future Outlook for Blockchain 9. Infrastructures and Cloud-Based Solutions 10. Defining Your Needs 1. Other Books You May Enjoy

Overview of accounting frameworks

Given the ever-increasing number of ICOs being conducted, some institutions have raised questions regarding how to account tokens in the financial statements of a firm since we were dealing with a new class of assets.

If you are running a one-hundred-year-old firm selling cars and you are willing to issue tokens to allow people to purchase certain kinds of products or services, how would you proceed?

You would launch an ICO where you will sell newly created crypto tokens against, say, dollars. This is a case where you should consider the following questions:

  • How would you account for the funds that were raised on your balance sheet?
  • How would you account for the remaining tokens in your profit and loss (P&L) statement?

These questions are currently being discussed in several jurisdictions over the world. Switzerland has a very crypto-friendly...

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Authors (1)

Profile icon Romain Tormen
LinkedIn
Romain Tormen is a senior consultant for PwC, a worldwide consulting firm. He has experienced digital transformation within several industries and different business units. Specialized in emerging technologies, he promotes to his clients the use of blockchain for better transaction security, transparency, disintermediation, and third-parties authentication. As a contributing writer for one of the most-read tech-oriented website hackernoon, Romain gives business insights and provides use-cases for a broad range of industries.
See other products by Romain Tormen

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