According to a Wednesday investment note by Benchmark, if MicroStrategy adopted new accounting rules, the impact on its earnings per share would be massive. The investment banking firm added that adopting the latest accounting standards means MicroStrategy could qualify for inclusion in the S&P 500.

"The company in its 2023 10-K report estimated that early adoption of the new accounting rules would increase its 2024 beginning retained earnings balance by around $3.1 billion," the Benchmark analysis note said.

Benchmark estimates that if MicroStrategy elects for early adoption of the Financial Accounting Standards Board's (FASB) new ASU 2023-08 standard, it could report a gain of more than $300 per share during 1Q24.

Inclusion in the S&P 500 

According to the Benchmark …