This technical workshop will introduce the Statement of Digital Assets (SoDA) framework to participants. It's a specialized reporting standard designed for organizations holding cryptocurrency and digital assets. As traditional GAAP financial statements often lack the granularity required for on-chain transparency, this session will explore how to implement a "fourth financial statement" that reconciles sub-ledger data with the General Ledger.
Participants will learn how to categorize digital assets by Wallet, Asset, and Role, ensuring that Fair Market Value (FMV) is accurately represented alongside Book Value.
The session also covers the integration of sub-ledger platforms like Bitwave & Cryptoworth to automate data flow and support clean audits by major firms.
Summary
The webinar covers the following key learning objectives:
• Why GAAP Falls Short: Identifying why traditional balance sheets fail to provide sufficient transparency for digital asset holdings.
• The SoDA Framework: Defining the core primitives of digital asset reporting, including asset intent, wallet classification, and role assignment (e.g., Yield, Tax Liability, Operations).
• Sub-ledger Management: How to use specialized software to process high-volume on-chain transactions into GAAP-compliant entries.
• Audit Readiness: Real-world case studies (including OP Labs/Deloitte) on how structured SoDA reporting reduces audit timelines and costs.
• Future Trends: The application of AI in asset classification and the expanding scope of reporting to include NFTs and Real World Assets (RWAs).
