United Arab Emirates info@sscoglobal.com
United Arab Emirates info@sscoglobal.com

Virtual Assets Accounting

In the business landscape, accounting is the equilibrium that keeps everything in check

Simplifying Digital Asset Accounting for Investors

The intricacies of virtual assets continue to present pivotal hurdles for broad institutional adoption. Given that Virtual Assets and NFTs have no existing accounting standards, where businesses mostly follow principle-based approach, it hinders effective deployment of accurate accounting solutions.

 

When faced with that, SS&CO thinks outside the box and contributes to comprehensive accounting solutions that ensure transparency and help you stay on the right side of the legal laws.

What Sets Us Apart

Our team of seasoned professionals brings years of experience and expertise to the table. From bookkeeping to financial reporting, we handle all aspects of your accounting needs with precision and care.

We partner with our valued clients across the UAE to deliver secure, accurate, and hassle-free accounting services

By outsourcing your accounting functions to us, you can rest assured that your financial records are in capable hands. We leverage advanced technology and best practices to streamline processes, enhance accuracy, and ensure compliance with regulatory requirements.

With the burden of day-to-day accounting tasks lifted from your shoulders, you can redirect your time and resources towards strategic initiatives and business growth.

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Our Commitment to Your Needs

Our Commitment to Your Needs

SS&CO: Your Trusted Ally

Putting your trust in our teams brings you a bounty of rewards, from expert advisory and tailored solutions to comprehensive support, we help our clients to get a clear picture of their virtual asset accounts.

 

We have assisted hundreds of satisfied clients in raising the probability of success by investing in virtual and digital assets by 50%. Bring us on board to also increase your likelihood of succeeding in the virtual assets’ world.

Your Trusted Advisor for Long-Term Success.

Frequently Asked Questions?

It is important to record each transaction separately while dealing with virtual assets. Many software helps during this process to track and convert multiple currencies into a single reporting platform to ease the process of calculations.
While the accounting of traditional assets can be complex but accounting for virtual assets is even more puzzling due to the lack of legal accounting practices and regulatory frameworks. Furthermore, the worth of digital assets can change and fluctuate rapidly as compared to traditional money.
Yes, virtual assets can be treated as inventory if they are held for resale in the regular course of business, like businesses running crypto exchanges, virtual assets might be reported at either cost or market value, based on the chosen accounting approach.
It is mandatory to report virtual assets on balance sheets with fair market value. If there are any gains or losses, they should also be listed in profit and loss statements. Likewise, staking rewards or mining from VAs are also obligatory to be included in the income statement.

Schedule a Consultation

Let’s talk about your goals, find new opportunities, solve challenges, and create a simple plan for lasting success together.

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