Accounting Rules Make the Outcome of Tesla’s Bitcoin Sale Unclear

Jul 24, 2022 · That’s right, we’re talking about U.S. accounting rules this week. And right on cue, Tesla announced last Wednesday that it sold 75% of its bitcoin in the second quarter. So let’s …

75%
OFF

Accounting Rules Make The Outcome Of Tesla’s Bitcoin Sale Unclear

2 weeks from now

yahoo.com

75%
OFF

Tesla's Bitcoin Dump Leaves Accounting Mystery In Its Wake

2 weeks from now

Jul 22, 2022 · Tesla isn’t violating rules, because there are none Tesla Inc. made waves this week when it announced that it had dumped the bulk of its Bitcoin stash. Selling 75% of its …

bloombergtax.com

$42000
OFF

Tesla And Block Among Bitcoin-holding Firms To Get Boost From ...

2 weeks from now

Dec 13, 2023 · The price of Bitcoin, which jumped on the FASB news, was a little over $42,000 at midday on Wednesday. Tesla owns around 10,000 while Block has about 8,000, and as both …

yahoo.com

75%
OFF

Accounting Rules Make The Outcome Of Tesla’s Bitcoin Sale Unclear

2 weeks from now

Accounting Rules Make the Outcome of Tesla’s Bitcoin Sale Unclear 1 year ago After Tesla sold 75% of its bitcoin, Twitter piled connected the institution for losing wealth connected the …

quark.news

$1
OFF

Tesla And Bitcoin: The Accounting - Financial Times

2 weeks from now

Feb 10, 2021 · In case you missed it, on Monday green energy pin-up Tesla announced it had spent $1.5bn on bitcoin in January in its 10-K filing. Plenty of takes, of course, followed.

ft.com

$1
OFF

Tesla And Microstrategy’s Bitcoin Bet Brings Accounting Headache

2 weeks from now

Jun 16, 2021 · Tesla and other corporate Bitcoin investors all face this minor accounting hurdle. Initially, Tesla’s $1.5 billion Bitcoin gambit looked like a big winner, especially after the electric …

decrypt.co

75%
OFF

Accounting Rules Make The Outcome Of Tesla’s Bitcoin Sale Unclear

2 weeks from now

After Tesla sold 75% of its bitcoin, Twitter piled on the company for losing money on the sale even though it didn’t. ... Accounting Rules Make the Outcome of Tesla’s Bitcoin Sale Unclear. 24-7 …

bitrss.com

75%
OFF

Accounting Rules Make The Outcome Of Tesla’s Bitcoin Sale Unclear

2 weeks from now

Accounting Rules Make the Outcome of Tesla’s Bitcoin Sale Unclear After Tesla sold 75% of its bitcoin, Twitter piled on the company for losing money on the sale even though it didn’t. Glenn …

cryptounfolded.com

5%
OFF

Accounting For Bitcoin At Tesla - Harvard Business Publishing …

2 weeks from now

Apr 12, 2021 · On February 8, 2021, Tesla revealed, through its 10-K filing to the Securities and Exchange Commission (SEC), that it had purchased $1.5 billion of Bitcoin, totaling 7.5% of the …

harvard.edu

FAQs about Accounting Rules Make the Outcome of Tesla’s Bitcoin Sale Unclear Coupon?

Will Tesla recognise a gain if bitcoin is sold?

Gains (if any) will not be recorded until realised upon sale. So, in short, Tesla will not recognise a gain on the value of its bitcoin unless some are sold. However, it will recognise a loss if the crypto falls below the price at which the electric vehicle maker purchased its allocation over an accounting period, even if the coins are not sold. ...

Should Tesla sell its bitcoins for a profit?

What is clear, however, is that unless Tesla sells its bitcoins for a profit, the accounting treatment for its crypto position is skewed to the downside. If the crypto is as volatile over the next year as it has been over the past one, its fair to speculate that losses might be greater than expected in at least one quarter this year. ...

Does Tesla's income statement show the sale of bitcoin?

So Tesla’s income statement doesn’t show the sale of bitcoin that made money (which is normal; it shows up on the cash flow statement ), but it does show an income statement loss associated with bitcoin it didn’t sell. That makes no sense. ...

Is Tesla's bitcoin sale a critique of bitcoin?

Tesla’s most recent bitcoin sale is certainly not a critique of bitcoin. When Tesla sold some bitcoin last April it did so to “test liquidity.” Now, in the second quarter, when it needed cash, there was ample liquidity to supply that cash. ...

How will Tesla's new accounting rules affect cryptocurrencies?

On Wednesday, the Financial Accounting Standards Board (FASB) laid out new rules changing the way Tesla and other major crypto-holding firms will handle disclosure of crypto assets, effectively requiring them to report the fair value of their digital assets at the end of every reporting period to improve the accuracy of their accounting. ...

Did Tesla sell 75% of its bitcoin in the second quarter?

And right on cue, Tesla announced last Wednesday that it sold 75% of its bitcoin in the second quarter. So let’s dive in. That (and maybe more …) below. You’re reading Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Sunday. ...