Impairment Solutions

One-Click Digital Asset Impairment Testing

Automate impairment testing for intangible assets  and maintain a GAAP compliant balance sheet.

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Intangible Asset Impairment Made Easy

Bitwave enables a highly-customized and audit-ready impairment configuration. Unlike other accounting platforms that use a standardized option, our platform offers the highest degree of flexibility. We enable your team to access the best accounting options for your business.

Ditch the Spreadsheet

Bitwave automatically tests impairment for digital assets within a single platform, saving you hours and headaches from manually updating spreadsheets.

Automatic Lot Tracking + Valuation

Bitwave automatically identifies all token lots and assigns a cost basis to them (typically distinguished by exchange or on-chain hash).

These token lots are used to calculate short-term/long-term G/L and impairment on a lot basis.

Rest Easy During Audits

Bitwave’s comprehensive reporting ensures you’ll always know which assets were impaired, when impairment occurred, and what values were used to calculate impairment.

Full transaction + price audit trail

Bitwave offers two reports that provide full coverage of impairment activity to be submitted to an auditor:

Actions report: Transaction-level report with impairment, cost basis, carrying value, etc.

Price report: Full historical pricing at the hour-level for open, low, close, and high prices across various pricing sources.

Highly Flexible

Bitwave allows for flexible accounting across all your subsidiaries, wallets, and asset lots, whether you’re following GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).

Key features:

  • Flexible digital asset and NFT impairment - (low of day/low of close/close of day)
  • Fair market value (FMV) accounting
  • Complex wallet assignments
  • Flexible inter-company cost basis transfers across multiple subsidiaries, currencies, and languages (Gain, loss, or direct).