THE IMPACT OF FUND ACCOUNTING FOR CRYPTOCURRENCY AND DIGITAL ASSETS
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
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- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study investigates THE IMPACT OF FUND ACCOUNTING FOR CRYPTOCURRENCY AND DIGITAL ASSETS, focusing on the adaptation of traditional accounting methods, the challenges of valuation and reporting, and the implications for regulatory compliance. A survey design is employed to capture the insights of professionals in the field, justified by its ability to gather comprehensive and diverse data. Taro Yamane's formula was used to calculate a sample size of 370 respondents, ensuring representativeness and reliability. The case study is based in Lagos, an emerging center for digital asset transactions and fintech innovation. The survey instrument's reliability coefficient score was 0.86, confirming its robustness. Findings highlight that while fund accounting for cryptocurrency and digital assets presents opportunities for diversification and innovation, significant challenges such as regulatory uncertainty, valuation volatility, and cybersecurity risks persist. The study recommends the development of clearer regulatory guidelines, enhanced valuation techniques, and robust cybersecurity measures to address these challenges and maximize the benefits of digital asset inclusion in fund accounting.
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