29 Mar '17, 9am

Bitcoin in Japan: Officially Recognized in April; Asset or Expense?

The report highlights the example of the accounting model set upon reward point programs, commonly offered by the likes of airlines. The accounting of rewards points sees them recognized when they’re redeemed while their entire value is booked as a liability, under International Financial Reporting Standards. This could have an adverse effect on companies’ operating profits, particularly those that richly reward customers. The report reveals that Tokyo-based e-commerce giant Rakuten’s net profit fell in the fiscal year 2016 due to costs of a promotional campaign with aggressively high reward points.

Full article: https://www.cryptocoinsnews.com/bitcoin-in-japan-official...

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