Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

April 3, 2019

Armanino TrustExplorer: A Software Solution for the Future of Digital Assets

For some time now we have been asking ourselves, what does the future of trust and transparency look like with increased adoption of digital assets, increased use of smart contracts and a world of DApps? There are so many challenging problems to solve, and we are actively working on a number of them. Some of …

March 18, 2019

The Problem With ‘It’s Blockchain But Not Crypto’

As we build our new Blockchain practice, I keep on hearing the phrase “it’s blockchain, but not cryptocurrency” in an attempt to satisfy business audiences that you are talking about something “corporate legitimate.”  The premise with “blockchain but not Bitcoin” is that we could get the clean, green pastures of a controlled enterprise blockchain with …

March 6, 2019

Debunking Common Misconceptions About Auditing Digital Assets

When talking with audit professionals, we have noticed a few misconceptions about auditing digital assets that are worth discussing. The most prominent misconceptions relate to proving ownership and confirming transaction details of digital assets (typically cryptocurrencies) as part of a financial statement audit. We have heard the following assumptions that may seem reasonable at the …

July 23, 2018

Tax Considerations for Successful ICOs

As cryptocurrency companies plan to raise capital through initial coin offerings (ICOs), it’s vital for them to evaluate the tax implications. This preparation will help ensure that common misconceptions about ICO taxation don’t result in unexpected costs that hamper the company’s ability to survive and grow. The most important tax consideration to understand is that, …

June 19, 2018

Financial Infrastructure Is Key for Cryptocurrency Company Success

As cryptocurrencies gain traction toward mainstream adoption and acceptance, companies in the cryptocurrency ecosystem must balance an influx of revenue and fast growth with the challenges of building a financial infrastructure capable of supporting their changing needs. Whether they’re a cryptocurrency exchange, a company funded through an initial coin offering (ICO), a platform or technology …

May 21, 2018

How Blockchains Achieve Consensus: Proof of Work vs. Proof of Stake

The use cases for blockchain are now being recognized as a truly viable option for future technologies. This stems from its inherent characteristics of immutability, security, traceability, anonymity and trust. Blockchain maintains these characteristics by achieving “consensus,” meaning agreement between all users or nodes within the network. How does a blockchain achieve this critical consensus? …

April 6, 2018

The Current State of U.S. ICO Compliance

As the SEC has yet to make an official ruling or create a governance entity to oversee ICOs (initial coin offerings) or TGEs (token generating events) and related processes, the current U.S. compliance landscape surrounding ICOs and related cryptocurrencies is quite ambiguous. Along with this regulatory uncertainty, future compliance may be costly and limit projects’ …

December 2, 2017

Part 2 Blockchain & Cryptocurrencies: 4 Ways It Will Change How We Do Business

Cryptocurrencies and blockchain have emerged as an exciting alternative to regular money. (We covered the basics here if you need a refresher.) But, this technology could be much more than an alternative currency. It also has the potential to revolutionize the way we do business. Here are four areas where we may see big changes …

November 13, 2017

Part 1 Blockchain and Cryptocurrencies: What You Need to Know

Blockchain and cryptocurrencies are mainstream news, especially as Bitcoin continues to hit record prices. But while most people have heard of this exciting new technology, it’s still not widely understood. To help you get up to speed and better anticipate the potential impacts on your business, here are the basics. What is cryptocurrency? Cryptocurrency is currency that …