Understanding Blockchain: For CPAs, Accountants, & Auditors (Currently Unavailable)

Author: Salvatore Collemi

Many say the accounting profession is set to play a key role in driving the adoption of this new technology to both privately-held and publicly-traded companies. But what exactly is blockchain? In short, Blockchain is a global digital ledger of economic transactions that is transparent, continually updated by countless users, and considered by many as almost impossible to corrupt or hack. What are the components that make up this technology? How does this apply to accounting professionals? You’ll get that knowledge here! You, as an accounting/auditing professional, can decide the fate of how the adoption will come to fruition. Blockchain has the potential to significantly disrupt the business sector and the public accounting industry in the next three to five years.

This course is designed to get you up to speed on what this cutting-edge technology is all about. You’ll learn about the basic concepts, lexicon, technology and potential applications related to Blockchain. This course will help you prepare for future conversations about Blockchain with your clients, prospects, colleagues, peers and others!

Publication Date: April 2019

Designed For
Auditors, accountants, practitioners, and CPAs.

Topics Covered

• What is Blockchain (in Plain English)?
• Public vs. Private Blockchains
• Differences between Centralized, Decentralized and Distributed Networks
• Realistic Applications in Practice
• The latest Blockchain software out on the market
• Next Steps in the Evolution of Your Practice
• What will you do?
• Blockchain Resources

Learning Objectives

• Recognize the evolving world of Blockchain Technology
• Describe the impact on both the financial reporting process and the audit approach
• Identify the latest software being utilized
• Describe blockchain
• Describe the evolution of blockchain technology
• Identify something that mathematically links one block to another
• Recognize characteristics of public blockchains
• Differentiate types of blockchain which has the purpose of trading value between dissimilar things
• Describe types of blockchain software
• Identify the two ingredients to prevent network corruption
• Identify a list of transactions recorded onto a ledger over a period of time
• Identify blockchain best practices

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (1 hour), Information Technology (1 hour)

Program Prerequisites
None

Advance Preparation
None