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Blockchain and Cryptocurrencies: What CPAs Need to Know to Service Clients (Course Id 1435)

QAS / Registry
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Author : Shehan Chandrasekera, CPA, Author, Speaker
Course Length : Pages: 22 ||| Review Questions: 3 ||| Final Exam Questions: 5
CPE Credits : 1.0
IRS Credits : 0
Price : $12.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry
Primary Subject-Field Of Study:

Computer Software & Applications - Computer Software & Applications for Course Id 1435

Description : Blockchain technology and cryptocurrencies such as bitcoin and ether are two trending topics in the fin-tech world. Yet, few business professionals can grasp the intricacies, opportunities and challenges posed by this new technology. This course intends to give you a thorough understanding of the history of the blockchain, properties of blockchain, limitations of blockchain, major cryptocurrencies (bitcoin & Ethereum) how to buy & sell cryptocurrencies, how tokens get value, special terms associated with the blockchain and the taxation of common blockchain related transactions. The course should prepare you to take on clients in blockchain related businesses, communicate effectively with them and implement best tax practices.
Usage Rank : 0
Release : 2018
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 26-Nov-2019
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - 1435

Keywords : Computer Science, Blockchain, Cryptocurrencies, What, CPAs, Need, Know, Service, Clients, CPAs, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Know the history of cryptocurrencies and the blockchain
  • Know how the blockchain technology works, why it is important and how it differes from existing technology
  • Recognize the process through which tokens are validated and transactions are processed
  • Identify potential use cases of blockchain
  • Analyze the Limitations of blockchain
  • Get to know major cryptocurrencies and their unique properties
  • How to value tokens
  • Know regulatory concerns on cryptocurrency investments
  • How & where to buy/sell cryptocurrencies
  • Recognize the definitions of unique technical and colloquial terms associated with virtual currency and blockchain
  • Recognize the tax ramifications of crypto transactions (Investors, miners, Payer/Payee, Like Kind Exchange, Charitable Contributions & Initial Coin Offerings)
  • Interpret the guidance from the IRS and cryptocurrency taxation
  • Identify applicable Information reporting requirements
  • Course Contents :

    Chapter 1 - Blockchain and Cryptocurrencies: What CPAs Need to Know to Service Clients

    Course Learning Objectives

    1 Introduction

    2 History of Cryptocurrency & Blockchain

    3 What is Blockchain Technology?

    Review Question #1

    4 How Does It Work and Why is It Different?

    5 Potential Use Cases

    5.1      Blockchain As a Payment System

    5.2      Blockchain As a Method of Storing Data

    5.3      Supply Chain Management

    5.4      Capital Formation Tool

    6 Major Issues of Blockchain

    6.1      Scalability

    6.2      Price Volatility

    6.3      Money Laundering and Terrorist Financing

    6.4      Market Manipulation

    7 Major Cryptocurrencies/Networks

    7.1      Bitcoin

    7.2      Ethereum

    8 Token Valuation; Framework for Token Confidence

    8.1      Tokens backed by Assets of Known Value

    8.2      Tokens backed by Assets of Uncertain Value

    8.3      New Tokenized Assets

    9 Cryptocurrency and the SEC

    10 How to Trade Cryptocurrencies?

    10.1    Exchanges

    10.2    Bitcoin Automated Teller Machines (ATMs)

    10.3    Peer-to-Peer Transfers

    11 Blockchain Terms

    11.1    Token Vs. Cryptocurrency

    11.2    Cryptocurrency Wallet/Digital Wallet

    11.3    Private Key/Public Key

    11.4    Validators/Miners/Nodes

    11.5    Smart Contracts

    11.6    Chain Splits (Forks)/Airdrops/Giveaways

    11.7    Miscellaneous Terminology

    Review Question #2

    12 Taxation

    12.1    General Treatment

    12.2    Investors

    12.3    Miners

    12.4    Payer/Payee

    12.5    Like Kind Exchange (LKE)

    12.6    Charitable Contributions of VCs

    12.7    Initial Coin Offerings (ICO)

    Review Question #3

    13 Information Reporting Requirements

    CPE Computer Science Course: https://www.cpethink.com/computer-science-cpa-courses
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