Webcast: Blockchain Application (XABA119)
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This webcast will help you understand the potential of blockchain by diving into the blockchain structure and functionality. You will begin to navigate the practical aspects of blockchain applications and use cases by looking into Ledgers, transactions and Smart Contracts. In addition, this webcast will help you understand the current blockchain landscape which will help you begin thinking about business applications and financial control considerations associated with blockchain use.

7/12/2019
When: July 12, 2019
9:00 AM until 2:30 PM
Where: Webcast
AICPA
1893004:9135141C796EE2A26EFCFAF35A99CE62
United States
Presenter: Amy Vetter, CPA/CITP, CGMA; Kirk Phillips


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Acronym XABA119
CPE 5.5 hours
Vendor AICPA
Category
Management
Level Basic
Yellow Book? No
Registration Fees
Members* $199
CPA Non-Members $249

*The member rate applies to LCPA members, other state CPA society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

Course Description

This webcast will help you understand the potential of blockchain by diving into the blockchain structure and functionality. You will begin to navigate the practical aspects of blockchain applications and use cases by looking into Ledgers, transactions and Smart Contracts. In addition, this webcast will help you understand the current blockchain landscape which will help you begin thinking about business applications and financial control considerations associated with blockchain use.

This webcast will focus on responsibilities, process and technical controls. The interactive exercises weaved throughout will help you translate this understanding into relevant business application and value.

Objectives

• Recognize the elements of permissioned and permissionless ledgers and their associated benefits and risks.

• Identify the components of security models for both types of blockchains and the continuum where other blockchains reside.

• Recall access control mechanisms, the importance of decoupling and segregation of duties and optimizing decentralization.

• Identify the characteristics of hybrid blockchains and blockchain-as-a-service.

• Recognize the governing concepts behind transactions and fees in different blockchain use cases.

• Differentiate between the unused transactions output (UTXO) model and the account model.

• Distinguish between transaction throughput and confirmations.

• Recall how smart contracts differ from traditional contracts.

• Recall how cryptocurrencies can be researched via market capitalization sites.

• Identify the different types of cryptocurrency exchanges including the risks and benefits.

• Recall the value proposition of initial coin offerings.

• Distinguish the elements of the general cryptocurrency taxonomy.

• Identify the different approaches to applying blockchain technology to create new business solutions.

• Identify system and organization controls (SOC) and how they relate to blockchain.

• Identify how to verify important process controls with blockchains and cryptocurrency.

• Recognize technical controls associated with blockchain and the need for expert teaming.

• Recognize the limitations of verification with transactions.

• Identify the fundamental and changing roles of the CPA when interacting with blockchain technologies.

Major Topics

• Elements of permissioned and permissionless ledgers

• Components of security models

• Access control mechanisms

• Characteristics of hybrid blockchains and blockchain-as-a-service

• Governing concepts behind transactions

• Difference between unused transactions output and the account model

• Transaction throughput and confirmations

• Difference between smart contracts and traditional contracts

• Cryptocurrency research

• Types of cryptocurrency exchanges

• initial coin offerings

• General crytocurrency taxonomy

• Approaches to applying blockchain technology

• How system and organization controls relate to blockchain

• Verify process controls with blockchains and cryptocurrency

• Technical controls associated with blockchain

• Limitations of verification with transactions

• Fundamental and changing roles of CPAs

Designed For: Non-IT finance professionals, CFOs, controllers, management accountants, public accountants, partners, staff, managers and internal auditors

Prerequisite: None

Note: Login instructions will be provided by the webcast vendor (AICPA).