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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Digital 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

A journal entry to record an impairment loss on digital assets can be a manual, time-consuming process. Bitwave automatically tests impairment 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. With Bitwave, audit-ready financial statements are a breeze – our in-house expert team is up-to-date on the latest SFAS guidance, FASB rules, and other regulatory compliance protocols.

Full Transaction + Price Trail

Bitwave offers multiple reports that provide full coverage of impairment activity to be submitted to an auditor.

Easily access transaction-level reports with impairment, cost basis, carrying value, etc. Or grab your 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).

From Blockchain to Balance Sheet,
Bitwave's Got Your Back

"A best-in-class operation"

“Pudgy Penguins is dedicated to the long-term sustainability of our community.

This integration (with Bitwave) ensures the financial health of our
systems with a best-in-class operation.”

Lorenzo Melendez
President and Chief Technology Officer
Pudgy Penguins
“Without Bitwave, it would be impossible to get all the data you need”

"Without Bitwave, it would be impossible to get all the data you need to complete the close process and accumulate our revenue directly from the blockchain."

Kate Venturina
Corporate Controller, Art Blocks
"Bitwave is essential to our cryptocurrency business processes."

“Bitwave is essential to our cryptocurrency business processes. Between their accounting and tax solution, and their deep expertise around digital assets, we’re thrilled to have a partner like Bitwave as we innovate in the power generation industry.”

Timothy Rainey
Chief Financial Officer, Greenidge Generation