Blockchain in accounting
For this paper, you will research blockchain in accounting and use the information you uncover to write a 5–10 page research paper detailing the topic. Submit the completed paper through this link. Make sure you are adhering to the guidelines included above.
RESEARCH blockchain, including what it is, how it works, and its impact (current and future) on the accounting profession. The following is a list of some good resources to start with:
Deloitte Development. (2017). Blockchain technology and its potential impact on the audit and assurance profession. https://www2.deloitte.com/bd/en/pages/audit/articles/gx-impact-of-blockchain-in-accounting.html
Kunselman, K. (2021, January 29). The future of blockchain in accountancy. Forbes. https://www.forbes.com/sites/forbesfinancecouncil/2021/01/29/the-future-of-blockchain-in-accountancy/?sh=4eb668191fd4
- Singer, M. & Kusz, G. (2021, April 19). Blockchain technology: Shaping the future of the accountancy profession. International Federation of Accountants. https://www.ifac.org/knowledge-gateway/preparing-future-ready-professionals/discussion/blockchain-technology-shaping-future-accountancy-profession
- Vasquez, G. (2021, August). An introduction to blockchain. CPA Journal. https://www.cpajournal.com/2021/08/18/an-introduction-to-blockchain/
- Institute of Chartered Accountants in England and Wales [ICAEW]. (2018). Blockchain and the future of accountancy. https://www.icaew.com/-/media/corporate/files/technical/technology/thought-leadership/blockchain-and-the-future-of-accountancy.ashx
WRITE a well-developed paper that thoroughly discusses blockchain and accounting. You may use the following prompts to begin your research and writing. You are not required to cover all of these prompts; they are just ideas to help you get started. Feel free to be creative and write about what interests you most about the topic, so long as you remain on the topic of blockchain in accounting.
What is blockchain?
Where and when did blockchain originate? And for what purpose?
How does blockchain work?
What is the future of blockchain technology?
What is the impact of blockchain on the accounting function?
What are the auditing considerations associated with blockchain?
How does blockchain facilitate the financial reporting of cryptoassets?
What rules or regulations govern blockchain?
What impact does blockchain have on the security of financial information?
How secure is blockchain compared to other accounting systems?
What is decentralized security, and is it foolproof?
Is blockchain immune to hacking?
How prevalent is blockchain in accounting?
