Modern Technologies in Financial Accounting: From AI and Blockchain to Crypto, RPA, and Cybersecurity (Course Id 2423)

This course provides an overview of key technologies transforming accounting and finance. It covers Artificial Intelligence (AI) and its applications in accounting software, blockchain for secure transactions, and Robotic Process Automation (RPA) to streamline operations. Participants will also explore crypto assets and their impact on accounting, alongside the role of forensic accounting in fraud detection. The course concludes with a two-part focus on cybersecurity, addressing both foundational principles and advanced practices for protecting financial data.

NASBA QAS - Text - NASBA Registry - 2423

Chapter 1
Introduction to Artificial Intelligence

• Identify key concepts related to AI
• Recognize subsets of machine learning
• Identify key characteristics of deep learning
• Recognize how AI can be used in the accounting profession

Chapter 2
AI Technologies in Accounting Software

• Identify key differences in traditional vs. AI-driven accounting software
• Recognize examples of various types of AI accounting software

Chapter 3
Blockchain

• Identify key components and concepts of blockchain technology
• Recall steps in blockchain transactions and consensus mechanisms
• Distinguish between blockchain and traditional databases
• Recognize use cases of blockchain for CPAs

Chapter 4
Robotic Process Automation

• Recognize benefits of implementing RPA technology
• Identify some of the key components of RPA architecture
• Recognize types of organizations that benefit most from RPA technology
• Identify some of the challenges when implementing RPA technology

Chapter 5
Crypto Assets

• Recognize the criteria for determining what constitutes a crypto assets based on U.S. GAAP
• Identify the recognition requirements for crypto assets
• Recognize the way in which crypto assets are presented on an entity’s financial statements
• Identify disclosure requirements with respect to crypto assets

Chapter 6
Forensic Accounting

• Recognize the key objectives of forensic accounting
• Identify techniques that forensic accountant use to perform engagements
• Recognize the standards which forensic accountants should follow
• Identify the importance of maintaining a clear audit trail in a forensic engagement

Chapter 7
Cybersecurity Principles

• Identify common cyber threats
• Recognize key cybersecurity terminology and concepts
• Recognize the importance of encryption, secure communication, and software updates
• Identify the importance of firewalls

Chapter 8
Cybersecurity Best Practices

• Identify key cybersecurity best practices for protecting digital assets and privacy
• Recognize the role of encryption and access controls in defending against cyber threats
• Select proactive measures to improve defenses against evolving cyber adversaries
• Determine the importance of regular software updates in maintaining cybersecurity

Chapter 1 - Introduction to Artificial Intelligence

Chapter Overview

Learning Objectives

Introduction

AI Key Concepts

Machine Learning

Deep Learning

Natural Language Processing

Algorithms

History and Evolution of AI

Significance of AI in the Accounting Profession

Conclusion

Review Questions

Chapter 2 - AI Technologies in Accounting Software

Chapter Overview

Learning Objectives

Introduction

Considerations of Using AI Accounting Software

Traditional vs. AI Accounting Software

Types of AI Accounting Software

Automated Data Entry Tools

Tax Preparation Software

Financial Planning & Analysis (FP&A) Software

Fraud Detection Software

Expense Management Systems

Conclusion

Review Questions

Chapter 3 - Blockchain

Chapter Overview

Learning Objectives

Introduction

Historical Development

Blockchain Key Concepts

Blockchain vs. AI

Blockchain vs. Traditional Databases

How Blockchain Works

Transaction Process

Consensus Mechanisms

How Can CPAs Use Blockchain Technology

Conclusion

Review Questions

Chapter 4 - Robotic Process Automation

Chapter Overview

Learning Objectives

Introduction

History of RPA Technology

RPA Providers

How RPA Works

Understanding RPA Architecture

What is a Bot?

Bot Creator/Designer

Control Room/Orchestrator

Bot Runner

Bot Repository

Integration Adapters/APIs

Organizations Benefitting the Most from RPA

Challenges in Implementation of RPA

Conclusion

Review Questions

Chapter 5 - Crypto Assets

Chapter Overview

Learning Objectives

Introduction

Overview of Crypto Assets

U.S. GAAP Guidance

Scope Criteria for Crypto Assets

#1 – Meet the Definition of an Intangible Asset

#2 – No Enforceable Rights or Claims Related to Goods & Services

#3 – On Distributed Ledger Based on Blockchain (or Similar) Technology

#4 – Secured Through Cryptography

#5 – Fungibility

#6 – Not Created/Issued by the Reporting Entity (or Related Parties)

Scope Application Examples

Recognition of Crypto Assets

Presentation Requirements

Disclosure Requirements

Private Company Considerations

Conclusion

Review Questions

Chapter 6 - Forensic Accounting

Chapter Overview

Learning Objectives

What is Forensic Accounting?

Objectives of Forensic Accounting

What Makes a Good Forensic Accountant

What Standards Do Forensic Accountants Follow

Overview of the Five-Step Process

Step 1 – Engagement Planning

Step 2 – Evidence Gathering

Step 3 – Analysis & Examination

Step 4 – Reporting & Documentation

Step 5 – Litigation Support & Follow-Up

Conclusion

Review Questions

Chapter 7 - Cybersecurity Principles

Chapter Overview

Learning Objectives

Introduction

Cybersecurity Definition & Importance

History & Evolution of Cybersecurity

Cybersecurity Terminology

Overview of Cyber Threats

Cyber Threats Specific to Finance Professionals

Impact of Cybersecurity Breaches on Financial Institutions

Conclusion

Review Questions

Chapter 8 - Cybersecurity Best Practices

Chapter Overview

Learning Objectives

Cybersecurity Best Practices and Tools

Best Practices for Safeguarding Financial Data

Strong Password Policies

Multi-Factor Authentication

Encryption and Secure Communication

Regular Software Updates

Firewalls

Data Backup & Recovery Planning

Anti-Virus & Anti-Malware Solutions

Intrusion Detection and Prevention Systems (IDPS)

Virtual Private Networks (VPNs)

Secure File Sharing

Conclusion

Review Questions

Glossary of Key Terms