FMN Information Technology

FMN - 2021/April, Seg 3 - Blockchain Ledgers - The Accounting of Tomorrow

At its most basic level, blockchain is a ledger sitting in multiple different computers, a chain of blocks made up of digital pieces of information. It is decentralized and it is not necessarily controlled by a single entity or a single individual. Once information is entered, it is there to stay. It is irreversible, it can't be changed, deleted or eliminated. If a correction needs to be made, a new transaction has to be recorded that has to be approved by all parties involved and it is added to every participant's ledger. Dave Sackett, CFO at ULVAC Technologies, Inc. discusses how the blockchain ledger works, its use in the accounting world and how it can be integrated with the company's general ledger.

Learning Objectives:

  • Understand how blockchain technology impacts assets, liabilities and equity accounts;
  • Determine the capabilities of a blockchain ledger and why it is considered the ultimate trail;
  • Recognize the way intercompany reconciliations work under blockchain technology; and
  • Understand the difference of the accounting treatment of cryptocurrency as an intangible asset versus a currency.


Prerequisites/Advanced Preparation:

Work experience in information technology or accounting, or an introductory course in information technology or accounting.


Speaker / Author:

Dave Sackett, CFO at ULVAC Technologies, Inc.

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Price (USD)

Standard: $69.90

Details

Course Code : FMN1394-FM

Release Date : 04/07/2021
Expire Date : 11/14/2022
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Information Technology


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