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71 sats \ 1 reply \ @siggy47 17 Dec \ on: Jan 1 FASB Bitcoin Accounting Rule: Implications for MSTR, etc going forward... bitcoin
It's a huge improvement. Under the old intangible asset rule, companies could not reflect appreciation, but had to reflect losses after date of purchase as an impairment charge.
yes, it was really crazy.
Imagine going in for a loan at the bank and their approach is to say: ".....ok for collateral assets we show you bought a Manhattan apartment in 1952 for $35,000....so we can only loan you based on that....."
I understand the "theory" of intangible assets rule is because of very non-liquid assets like "rights to a logo we purchased". But unironically BTC is more liquid then nearly any other stock that FASB accounting covers.....
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