MANAGEMENT ACCOUNTING OF ELECTRONIC TRANSACTIONS WITH THE USE OF CRYPTOCURRENCIES

The need to obtain prompt access to funds through electronic communications, protecting investment after the global financial crisis has led to the emergence of a new type of electronic money — the cryptocurrencies.  The modern state and prospects for development of the cryptocurrency as a special kind of electronic money were expounded. Cryptocurrencies gain significant popularity due to the advantages of their use, such as: comfort, independence, accessibility, lack of engagement, confidentiality, no documents, full automation of accounting, and cost optimization for administration. Various scientific positions concerning the accounting and economic positioning of the cryptocurrencies in Ukraine were researched. The proposed order to display in accounting the processes of initial obtaining (mining) with the definition of a cost calculating method and operation of the cryptocurrencies most fully corresponds to the national accounting treatment. It was proposed to resolve to the problems of management accounting of electronic money and cryptocurrencies in Ukraine through the combination of functional capabilities of the blockchain technology, positive qualities of the «Internet Bank» and «Client-Bank» communications, which will enable to create a hybrid system of non-cash payments by the cryptocurrencies, electronic money, funds on accounts in a bank with free conversion of existing funds and possibilities for information exchange with all the participants in settlement operations. The article presents a methodology for collecting accounting information on settlements with the cryptocurrencies and other electronic money without the formation of traditional payment documents and bank statements. Electronic information from the hybrid communication system is the foundation for fully automated documenting, formation of accounting records, informing accountants and management of non-cash transfers. Automation of management accounting of electronic transactions helps to increase the level of internal and external control over execution of money operations due to timely and remote informing sharing about the parameters of payments.