The purpose of the research – the main purpose of the study is to investigate the classification of cryptocurrencies, to propose an accounting model based on the Chart of Accounts established by the legislation, in accordance with the International Standards of Financial Reporting for their accounting.

The methodology of the research – comparative analysis, horizontal analysis and other analysis methods were used to justify the reflection of the accounting of cryptocurrencies in the relevant standards.

The practical importance of the research – due to the lack of relevant standards for enterprises to buy, sell and use cryptocurrencies as assets in business operations, it is appropriate to establish and implement a new accounting model based on digital indicators of their reflection in accounting.

The results of the research – Enterprises using the model proposed in the study, IAS 38 "Intangible assets", IAS 16 "Property, buildings, equipment", IAS 40 "Investment property" and IAS 2 In accordance with the requirements of "Reserves" and other relevant standards, they can perform the accounting of the acquisition of cryptocurrencies based on the defined Chart of Accounts.

The originality and scientific novelty of the research – since there is no model for the accounting of cryptocurrencies by the relevant executive authorities and major financial institutes, the research paper proposes a new accounting model for the accounting of the asset in question.

Keywords: cryptocurrency, intangible asset, volatility, accounting model, IFRS, IAS.

http://doi.org/10.59610/bbu1.2024.1.1