Course description
Designing and Implementing Blockchain in Accounting Systems
This Accounting Technology course is available as a face to face event or as a virtual, online training!
The blockchain is an accounting/audit technology that is focused on the transfer of assets and maintaining a distributed ledger of accurate financial information. Blockchain accounting has two primary characteristics:
- Mutually distributed—all participants on the blockchain, for example a company and its vendors and customers, have access to a full copy of their accounting ledger, and all copies are identical and equivalent.
- Immutable—the accounting “truth” of the transaction is determined by the parties to the transaction. This consensual arrangement then becomes codified and cannot be altered without the agreement of the parties involved in the transaction. Therefore, the transaction is permanent.
For those new to the Blockchain this course will prepare you to design and implement a digital accounting system for your company, primarily by using blockchain as your primary financial reporting accounting system. For those, familiar with the Blockchain this course will provide you with the tools to transition to blockchain as a “one truth” accounting system for your organization.
Upcoming start dates
Suitability - Who should attend?
Accountants and Internal/External Auditors of organizations who are interested in incorporating emerging technologies in accounting and auditing that increases the effectiveness and efficiencies of their financial reporting systems. This includes:
- Accountants
- Internal/External Auditors
- Those charged with Compliance Duties
- Those charged with internal and external Financial Reporting
- Management positions that rely on accounting/financial information to make decisions for the organization
- Managers responsible for integrating affiliate companies into the parent organizations consolidated financial statements
Outcome / Qualification etc.
At the end of this course, participants will be able to:
- Understand and integrate the Blockchain concepts into accounting information systems at your organization
- Comprehend that trust is the new currency for efficient and effective financial reporting
- Demonstrate a mindset for the Blockchain that realizes that trust and verification of accounting and financial information is essential for financial reporting
- Translate accounting transaction reporting to a distributed ledger employing triple entry accounting
- Design a blockchain accounting system for your organization that increases trust and verification for your stakeholders
- Manage the technological transition to a blockchain based financial reporting system
- Evaluate the implementation of your organizations integration into your accounting/finance information system
CPE credits are available for all courses.
Training Course Content
This course is designed to cover the following key topics:
- The blockchain and the future of professional accountants and auditors
- Benefits
- Distributed Ledgers
- Inevitability
- Fundamentals of the Blockchain and how it operates
- Distributed Ledger Technology
- Triple Entry Accounting
- One Truth
- Interactive Accounting applications
- Smart Contracts
- What they are, how there constructed, how they relate to the blockchain and financial reporting
- Interactive Accounting applications
- The Oracle Problem—Trust, but verify
- Blockchain Architecture
- Creation
- Private blockchain architecture
- Components
- How blockchain works in accounting information systems for financial reporting
- Model for a blockchain accounting system
- Structure
- Demonstration of how to build the blockchain accounting system
- Working through the digital platform to illustrate how to build the Blockchain
- Interactive applications
- Creation
Why choose IASeminars
We've been training for 20 years.
50% of our business comes from returning clients.
We offer instructor-led training in international locations, over Zoom or in house.
Expenses
The cost of this training course is £2,050 + VAT for face to face events and $1,850 + VAT for virtual events.
In-House Training
In addition to the scheduled dates and locations, IASeminars can also run this course as in-house training, to meet the specific requirements of your team. Contact them here to request a customised training solution for your team.