bitcoin being physically held

Accounting For NFTs

When it comes to accounting for NFTs, there are currently no specific standards set by Canadian governing bodies. What is clear is that these digital assets are classified as intangible assets which should be recorded at the price of purchase. When it comes to amortization of NFT’s this topic becomes a lot more complicated and it throws a big wrench into the question as to how one should conduct accounting for their NFTs.

When looking to account for NFTs or any other digital asset, it is always recommended to reach out to your trusted local chartered professional accountant. They should know the laws by which your province governs.

If you still have trouble navigating this concept, its completely understandable. For more information please feel free to contact us at 778-989-5280 or email us at shirin@accountant-vancouver.com & if ever in doubt, reach out to a trusted CPA (Chartered Professional Accountant) for help and they will ensure that you don’t fall into any trouble.

Shirin Moshirfatemi is an experienced Persian accountant based out of North Vancouver which offers CPA services to English and Farsi speaking clients. With more than 20 years of experience, she understands that Persian accounting in Vancouver is invaluable to new comers. Finding a Farsi speaking accountant in North Vancouver which you can trust is invaluable. If you are new to Canada, you don’t need to worry because SMF is the one stop accounting firm for Persian & Farsi speaking accounting services. We work with great partners!

You can also find us through Salam Vancouver MagazineDaneshmand MagazineMeta Marketing, & Salam 118.

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