Approving the rules that will govern the accounting records of the petro and the cryptocurrencies

The Federation of Public Accountants of Venezuela unanimously approved the bulletin VEN-NIF 12 version zero on the “tenure of criptoactivos own” that will govern the accounting records of the petro and the cryptocurrencies in the country. In an extraordinary session of the national directory expanded, held this Saturday, February 15 in Caracas, the union gave the nod to the document that details how it will be the treatment and the presentation of the cryptocurrencies.The bulletin sets out four main aspects on the cryptocurrencies for recognition, measurement, presentation and disclosure. Each row gives details about the methods that must be adopted by the accountants to keep track of bitcoin or petro, for example. The rule refers to people or companies that have control over cryptocurrencies stored in the portfolios own, that is to say, not covered by now, cryptocurrencies stored at exchange houses, or mining digital.Jorge Gomez, secretary of studies and research of the Federation, reported to Breaking News that in the final deliberations there was a change in the name of the document that was previously referred to as the “accounting Treatment of the tenure of criptoactivos in the financial statements prepared in accordance with VEN-NIF and the presentation of financial statements measured in criptoactivos”. Now the bulletin became established as “Tenure of criptoactivos own”.”There were 32 votes in total, 15 of the members of the federation and 17, the presidents of the Associations of Accountants federated who attended. The document was changed the name and some styles on the paragraphs related to measurement of the criptoactivos and in the conclusions,” said Gomez consulted by this newspaper.Remember that the document was out for public consultation national between December 31, 2019 January 31, 2020. After that period initiated the revision of the suggestions and recommendations for inclusion in the newsletter. The development of the standards for the accounting treatment of the cryptocurrencies she was a delegate to the Federation of Accountants by the Superintendencia Nacional de Criptoactivos and Related Activities (Sunacrip) in December 2019.The trade organization announced the approval of the document through social networks. “The day of today, February 15th, 2020 is developed the National Directory Extended Extraordinary at the headquarters of the Federation of Colleges of Public Accountants of Venezuela, where it was unanimously approved by the BA VEN NIF 12 V0 ‘Tenure Criptoactivos Own”, published by the federation in your account in Instagram.In a previous interview with Breaking News, Gomez indicated that this is the first newsletter related to the possession itself of cryptocurrencies, but that is expected the elaboration of two other bulletins to this 2020. One will cover the tenure of the cryptocurrencies in the exchange houses with their specific guidelines and the other will be the topic of mining digital.

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