Digital Assets and Cryptocurrency

Author: Cory Campbell

Cryptocurrency is reshaping the financial landscape by utilizing advanced cryptographic methods to secure and authenticate transactions. Through the integration of self-executing smart contracts within decentralized networks, it paves the way for financial innovation. This includes transforming payment systems, enabling decentralized finance (DeFi) applications, and creating new opportunities for investment and fundraising via Initial Coin Offerings (ICOs). This course is tailored for accounting professionals who seek to deepen their knowledge of cryptocurrency’s decentralized financial systems and the operational efficiencies introduced by blockchain technology. Participants will explore the implications for financial reporting, auditing, and regulatory compliance, gaining insights into how cryptocurrency can reshape the future of finance.

Publication Date: May 2025

Topics Covered

• What is blockchain?
• When is it applicable to use?
• Bitcoin the "asset" versus the "network"
• Applicable Standards and Treatment

Learning Objectives

• Identify the fundamental characteristics of blockchain technology
• Explain the impact of blockchain technology on traditional financial reporting, auditing, and regulatory compliance processes
• Explain the potential risks and benefits of integrating cryptocurrency and decentralized finance (DeFi) solutions into existing financial systems
• Explain how to apply knowledge of cryptocurrency and smart contracts to identify opportunities for operational efficiencies within accounting practices
• Identify a type of cryptocurrency designed to maintain a stable value by being pegged to a reserve asset, such as a fiat currency (like the US dollar) or a commodity (like gold)
• Identify a disadvantage of Bitcoin compared to traditional investments

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Information Technology (2 hours)

Program Prerequisites
None

Advance Preparation
None