Embracing Innovation: Blockchain and Smart Contracts in Financial Record Keeping
Author: Cory Campbell
| CPE Credit: |
2 hours for CPAs |
Blockchain technology is redefining how financial records are authenticated, stored, and accessed. By embedding self-executing smart contracts into permissioned blockchain systems, businesses can automate complex transactions with speed and precision—reimagining processes from asset tracking and title transfers to tax compliance and digital voting. This course introduces accounting professionals to the decentralized ledger system and explores how smart contracts enhance transparency, reduce manual intervention, and reshape traditional record-keeping. Participants will also examine the implications of crypto assets and tokenized transactions, gaining insight into the risks, controls, and opportunities that arise when financial data is recorded on immutable, distributed networks.
Publication Date: March 2026
Topics Covered
- Learn how blockchain is reshaping traditional financial record-keeping processes
- Dive into the concept of smart contracts and their application in automating financial agreements
- Fundamentals of blockchain and its decentralized nature
- Cryptography's role in ensuring the security and integrity of financial transactions
Learning Objectives
- Indicate the fundamental characteristics of blockchain technology
- Recognize the differences between types of blockchains and the associated potential use cases
- Evaluate different risk factors that may be introduced by including smart contracts in a blockchain-enabled environment
- Evaluate the potential risks and challenges associated with implementing blockchain and smart contracts in specific accounting contexts
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Information Technology (2 hours)
Program Prerequisites
None
Advance Preparation
None
