Crypto currencies and accounting of bitcoin in Turkey

Abstract

Transaction volume of crypto currencies, which is generally known by Bitcoin, has reached a significant size worldwide, today. Though they are not recognized by law in common, yet; the crypto currencies attract firms due to their higher revenue rates, transferable skills and lower transaction costs. Today the firms can pay and collect their receivables by the crypto currencies also they invest in crypto currencies to benefit from exchange rates. The aim of the study is evaluating the accounting of Bitcoin in Turkey by presenting the process and features of crypto currencies, especially Bitcoin.