Why Should You Attend:
The course explores the relationship between the accountancy profession and the blockchain concept, as well as potential future developments.A blockchain is a digital ledger composed of decentralized, distributed, and often public records, known as blocks, which are used to record transactions across multiple computers.
These blocks cannot be altered retroactively without altering all subsequent blocks, enabling participants to independently and relatively inexpensively verify and audit transactions.
Blockchains are validated through mass collaboration powered by collective self-interests, which results in a strong workflow where participants' uncertainty regarding data security is minimized. Furthermore, the use of a blockchain eliminates the ability to infinitely reproduce a digital asset, as each unit of value can only be transferred once, solving the problem of double-spending.
This course looks at the practical implications of this revolutionary change for the accountancy and auditing profession.
Agenda
- Key Features of the Blockchain
- How the Blockchain Works
- The future of the Blockchain
- The Accounting Perspective - The Potential of Blockchain
- Will the Blockchain Replace Accountants?
- How the Blockchain Can Benefit Accountants
- Impacts of Blockchain Methods
- Five Common Blockchain Myths
- Implications for Auditors
- How the Accounting Profession can Lead
