Аңдатпа
Research Objective – to analyze the impact of companies’ accounting and disclosure practices for cryptocurrency assets on their financial performance, stock returns, and liabilities. Methodology – analysis of financial statements of companies in Kazakhstan that account for cryptocurrency assets; comparison of financial indicators; application of regression models and correlation analysis; testing of two hypotheses. Originality / Value of the Study – examining cryptocurrency from the perspective of accounting is a rare topic. This work is among the first to systematically analyze issues of accounting and disclosure of cryptocurrency assets within international standards. The findings provide useful insights for public authorities and companies in their decision-making processes. Research Findings – the empirical analysis revealed that holding cryptocurrency assets does not significantly affect companies’ financial performance. Specifically, cryptocurrency positions show no statistically significant relationship with profits or stock returns. This suggests that investors may hold a neutral attitude toward companies that own or do not own cryptocurrency. Furthermore, the study found that cryptocurrency assets have a substantial impact on companies’ liabilities, thereby increasing financial risk. Consequently, cryptocurrency should not be treated as a cash equivalent under current accounting standards, as its volatility and valuation complexity may undermine the reliability of financial reporting. In conclusion, the study highlights the relevance of considering cryptocurrency in accounting and demonstrates the need for additional disclosures under international standards. Future research should cover longer time horizons, focus on accounting policy choices, examine the evolution of cryptocurrency-related disclosures, and assess their impact on firm value more comprehensively.