PROGRAM TITLE: Competence Area A: Blockchain Technology and the Accountancy Profession – Part 1

 

PROGRAM DESCRIPTION:  In recent years, blockchain technology has evolved far beyond bitcoin and is now being experimented in a broad range of business applications. It is important for the accountancy profession to stay abreast of developments in this technology. The focus of the seminar is to explain blockchain technology and how it could potentially impact the accountancy profession and create roles for the CPA in the blockchain ecosystem.

 

PROGRAM OBJECTIVES/LEARNING OUTCOMES: Understand the blockchain technology, its features, benefits, types, and applications; appreciate the potential impact of blockchain in the accountancy profession.   

 

Specific Objectives of the Program

Learning Outcomes per Topic

Topics To Be Discussed 

Time Allotment For Each Topic

Teaching Methods and Aids Needed For Each Topic

Evaluation Method or Tools To Be Used to Measure the Program Objectives2

Discuss the relevance and provide an introduction and overview of the course.

Participant should gain an overview and understand what to expect from the course.

Introduction and Overview

2 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Discuss the origins of and the foundational concepts in blockchain technology.

 

Participant should gain an understanding of the origins and foundational concepts of Blockchain Technology.

Satoshi Nakamoto’s Bitcoin White Paper, Characteristics of Blockchain, Blockchain Terminology

13 minutes

Lecture and downloadable presentation handouts, Satoshi Nakamoto’s White Paper

Quiz (75% passing rate)

Discuss a brief history of blockchain technology adoption in business and the accounting industry.

 

Participant should get updated as to how far blockchain technology has progressed in terms of business adoption.

Catalysts for Blockchain Adoption

8 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Reinforce the facts and principles covered in the lesson.

Participant should be able to recapture and retain in memory the concepts discussed.

Section Review: Origins of Blockchain

5 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Differentiate centralized versus decentralized networks and explain blockchain’s decentralized ledger.

Participant should understand the advantages and disadvantages of centralized and decentralized networks and relate this to blockchain technology.

Centralized Versus Decentral Networks

7 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Reinforce the facts and principles covered in the lesson.

Participant should be able to recapture and retain in memory the concepts discussed.

Section Review: Centralized vs. Decentralized Networks

5 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Explain how blockchain works in terms of blocks, hashing and verification process. 

Participant should understand the concept of blocks, hashing and verification in a blockchain network.

Blocks, Chains and the Hashing and Verification Process

4 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Illustrate a simple how blockchain verifies a simple business transaction.

Participant should gain a clearer grasp of the blockchain verification process.

Illustration of the Verification Process

2 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Reinforce the facts and principles covered in the lesson.

Participant should be able to recapture and retain in memory the concepts discussed.

Section Review: How Blockchain Works

5 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Discuss the features of blockchain and the two types of blockchain protocols.

Participant should learn the features of blockchain, as well as the POW and POS protocols.

Three P’s Features of Blockchain - Propagation, Permanence and Programmability, Proof of Work and Proof of Stake Protocols

10 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Reinforce the facts and principles covered in the lesson.

Participant should be able to recapture and retain in memory the concepts discussed.

Section Review: Blockchain Protocol

5 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Present a Case Study on Vechain – an actual blockchain service provider that partnered with accounting firm PwC

Participant should gain a practical view of blockchain technology by studying the case of Vechain

Vechain, PwC, BMW, IVF and Supply Chain Management

20 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Reinforce the facts and principles covered in the lesson as encapsulated in the handouts/reading materials.

Participant should recapture and retain in memory the blockchain concepts discussed by studying the handouts/reading materials provided.

Reading Materials

15 minutes

Reference Materials

Quiz (75% passing rate)

Provide a distilled presentation of the important ideas discussed in the module.

Participant should gain an appreciation of the salient points covered in the module.

Key Points

5 minutes

Lecture and downloadable presentation handouts

Quiz (75% passing rate)

Gain mastery of the principles and applications covered in the module

Master the facts and principles covered in the lesson

Short Quiz

15 minutes

Q&A – multiple choice

Quiz (75% passing rate)

TOTAL

 

 

121 minutes

 

 

Course Curriculum

  • 1

    Handouts

    • Reading Materials

    • Blockchain Technology and the Accountancy Profession Lesson 1 Handouts

  • 3

    The Origins of Blockchain

    • Satoshi Nakamoto, Bitcoin and Blockchain Technology

    • Sataoshi Nakamoto's Bitcoin White Paper

    • What is Blockchain?

    • Blockchain Terminology

  • 4

    SECTION REVIEW 1 – The Origins of Blockchain

    • SECTION REVIEW 1 - The Origins of Blockchain

  • 5

    Adopting Blockchain Technology

    • Catalysts for Adoption of Blockchain Technology

    • Distributed Ledger Technology and Decentralization

  • 6

    A Decentralized Network

    • Centralized Versus Decentralized Networks

    • A Decentralized Ledger

  • 7

    SECTION REVIEW 2 – A Decentralized Network

    • SECTION REVIEW 2 - Differentiating Between a Centralized and a Decentralized Network

  • 8

    How Blockchain Works

    • Blocks, Chains and Hashing

    • Verification Process

  • 9

    Illustration: The Blockchain Verification Process

    • Illustration of Blockchain Verification

  • 10

    SECTION REVIEW 3 – How Blockchain Works/Verification Process

    • SECTION REVIEW 3 - How Blockchain Works/ Verification Process

  • 11

    Blockchain Protocol

    • The Three P's

    • Blockchain Protocol

    • Proof of Work

    • Proof of Stake

  • 12

    SECTION REVIEW 4 – Blockchain Protocol

    • SECTION REVIEW 4 - Blockchain Protocol

  • 13

    Case Study: Vechain and Supply Chain Management

    • Vechain, PwC, BMW, IVF and Supply Chain Management

  • 14

    KEY POINTS

    • KEY POINTS: Blockchain Technology and the Accountancy Profession - Part 1

  • 15

    Quiz

    • Blockchain Technology and the Accountancy Profession Quiz Part 1

  • 16

    Evaluation Form

    • Evaluation Form and Attendance Sheet (as required under PRC Resolution no. 1244 Series of 2020)

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