Definition ∞ Financial reporting involves presenting an entity’s financial information to external stakeholders, such as investors, creditors, and regulators. This typically includes balance sheets, income statements, and cash flow statements. Its purpose is to provide a transparent and accurate view of financial performance and position.
Context ∞ The financial reporting of digital assets poses unique challenges due to their volatility, novel characteristics, and evolving accounting guidance. Companies holding cryptocurrencies face complexities in valuation and disclosure, leading to varied practices. News frequently highlights the ongoing efforts by accounting bodies to standardize financial reporting for digital assets, enhancing transparency.
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