How do you determine the initial measurement basis?
A French company buys 20,000 dollar-referenced tokens. The trade confirmation shows €18,600 for the tokens and a €60 commission. The ERP proposes booking the full €18,660 debit as an asset. Before approving the entry, the accountant needs to identify the right the company acquired and check whether the applicable accounting rules include the commission in the initial carrying amount.
Identify what the company acquired
Record the issuer, network, token contract and custody arrangement. Establish who, if anyone, owes the company money under an enforceable agreement and what conditions apply. The ability to sell through a platform, a redemption claim against an issuer and a claim against a service provider are different arrangements. The stated peg describes an economic feature; it cannot select the accounting basis.
Retain the trade confirmation, timestamp and time zone, the provider statement and, where delivery occurs on chain, the transaction identifier. If the dates differ, document the event that triggers recognition under the relevant framework and agreement. Match price and exchange-rate evidence to the measurement date selected.
French statutory accounts: review the commission before approving the import
Endorsed ANC Regulation 2026-01 applies to financial years beginning on or after 1 January 2027. Early application is permitted for the financial year in progress when it was published in the Official Journal. Under these rules, account 513 covers the electronic money tokens identified in Article 619-8. Article 619-9 directs entities to the accounting rules for the attached right when its conditions are met. For assets under Article 619-10, incidental acquisition costs are expensed according to their nature. [1]
Assume the company applies this regulation and has documented why this purchase falls within Article 619-10 and account 522. The illustrative purchase amount is €18,600, or €0.93 per token. The €60 commission is recorded separately as an expense. The reconciliation to cash is €18,600 + €60 = €18,660. This split should not be carried over automatically to an electronic money token or to a right within Article 619-9.
Group reporting: explain why the opening amount differs
Under IFRS, if the acquired right falls within IFRS 9, initial measurement generally starts at fair value. Directly attributable acquisition costs are added for a financial asset not measured at fair value through profit or loss. Establish scope before applying the rule. The June 2019 IFRIC agenda decision covers a defined subset of cryptocurrency holdings that do not give rise to a contract between the holder and another party. IAS 2 applies when holdings are for sale in the ordinary course of business; IAS 38 applies otherwise within that subset. In the IAS 38 branch, a separately acquired intangible asset is initially measured at cost. [2–4]
Under US GAAP, ASU 2023-08 does not make Subtopic 350-60's subsequent fair value model a rule for initial measurement. For assets in scope, Subtopic 350-30 still governs initial recognition and measurement. The FASB did not introduce a specific requirement for acquisition fees in this update. [5]
For an Abidjan subsidiary, start from its statutory accounts under AUDCIF and SYSCOHADA and explain any group reporting adjustment separately. OHADA's publication establishes the applicable framework. It does not establish a single account or initial measurement basis for all stablecoins. The foreign exchange rules governing the actual transaction call for a separate assessment. [6]
BECTRA working paper: one acquisition record per lot
Link the proposed entry to its evidence. Record the entity and framework, the right acquired and any debtor, the recognition date, quantity, executed price, currency and rate source, separately identified fees, and the basis selected. Add columns for statutory accounts and group reporting where an adjustment is needed. If a redemption clause is missing or the price cannot be reproduced, name the evidence required and who will obtain it. The controller can then reconcile the entry to the provider statement before releasing the ERP import.
Conclusion
Establish the rights and framework first, then support the date and amount. Use the provider's debit as the reconciliation point. The acquisition record should explain what went into the asset balance and where the remainder was recorded.
Further reading
See BECTRA's articles on French GAAP, SYSCOHADA and when IFRS 9 applies to stablecoins.
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