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Cryptocurrency and Blockchain Fundamentals For Accountants

15 Lessons
CPEs 3.0
Accounting

This course provides accountants and CPAs with a practical, accounting-focused introduction to cryptocurrency and blockchain technology. Learners will gain a foundational understanding of how crypto transactions work, how blockchain records activity, and why these technologies create unique accounting, financial reporting, and internal control considerations.

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Course Description

Course 1 of 6 in our Crypto Accounting Learning Path! Cryptocurrency and blockchain technologies are increasingly appearing in real business operations, often without advance planning or clear accounting frameworks. As a result, accountants and CPAs are being asked to evaluate transactions, risks, and reporting implications related to crypto assets, sometimes with little prior exposure to how these technologies function. This course addresses that gap by explaining cryptocurrency and blockchain from an accounting and financial reporting perspective, focusing on how these systems record, transfer, and safeguard economic value.

The course introduces key concepts such as decentralization, digital ownership, blockchain record keeping, and transaction finality, highlighting how these features differ from traditional financial systems. It also examines common cryptocurrencies including Bitcoin, Ethereum, and stablecoins, along with typical business use cases such as accepting crypto as payment, paying vendors, holding crypto as a treasury asset, and transferring value across borders. Operational components such as exchanges, wallets, and custodians are discussed to clarify custody, access, and control considerations.

Finally, the course explores the accounting implications of cryptocurrency, including transparency, valuation, volatility, documentation, and record-keeping challenges. A practical case study demonstrates how even a single crypto transaction can introduce accounting, control, and financial reporting considerations that CPAs need to recognize early. This course is suitable for accounting professionals seeking a foundational understanding of cryptocurrency and blockchain and their impact on accounting practice.

In this course, you'll learn...

Course Objectives

To explain what cryptocurrency and blockchain technology are using accounting-relevant terminology.

To identify common types of cryptocurrencies businesses encounter and how they are used operationally.

To describe how blockchain characteristics impact recordkeeping, auditability, and financial reporting.

To recognize scenarios where cryptocurrency creates accounting, tax, or control implications.

How you'll apply these skills...

Identify Crypto Accounting Issues: Recognize when cryptocurrency activity creates accounting, tax, or internal control considerations

Evaluate Crypto Transaction Risks: Assess risks related to decentralization, custody, authorization, and irreversibility

Understand Blockchain Evidence: Interpret blockchain transaction data and evaluate its reliability for accounting and audit purposes

Apply Valuation Judgment: Determine appropriate timing and approaches for measuring the fair value of crypto transactions

Assess Control Implications: Identify where preventive and detective controls are needed when organizations use crypto

Support Financial Reporting: Link crypto transactions to supporting documentation for accurate recording and audit readiness

Course Instructor

Michael Carroll, CPA, CISA, CISM

Michael is an accounting and information security professional. He is also an Adjunct Professor at several higher education institutions, where he is responsible for teaching various accounting and information technology courses.

Michael earned his MBA in Accounting and B.S. in Accounting / Accounting Information Systems from Canisius University. Additionally, Michael is a Certified Public Accountant (CPA) and a Certified Information Systems Security Professional (CISSP). Michael is a current member of the NYCPA’s Education Committee and has been an Advisory Board Member for the Academy of Finance (AOF) since 2020.

Michael enjoys traveling, hiking, and watching the Buffalo Bills. He has also participated in several marathon events.

Course Content

Course Wrap-Up 1 Topic
Lesson Content
0% Complete 0/1 Steps
Final Exam: Cryptocurrency and Blockchain Fundamentals

Additional Info

Format

5-20 min. videos, 2 quizzes, and a final assessment

Field of study

Accounting

CPE Credits

CPEs 3.0

Prerequisites

None

Corey

Corey is the owner of Wisdify.  He is passionate about learning and development, he loves helping people achieve their professional and personal goals. Corey is a big believer in the power of online learning and community with 15 years of finance and accounting experience.

Joe

Joe is the owner of Wisdify.  He is passionate about learning and development, he loves helping people achieve their professional and personal goals. Joe is a big believer in the power of online learning and community with 20 years of finance and accounting experience.

 

Kelsey Murphy

Kelsey is Wisdify’s expert content developer. Taking feedback from our students, Kelsey creates extremely relevant blog posts and leads the development of Wisdify’s other free resources.

Prior to Wisdify, Kelsey worked as a business technology strategy consultant for Forrester, a global research and advisory firm. While there, she acted as project manager for numerous research-based consulting projects.

Kelsey earned a BA in Economics and Mathematics from Wellesley College.

Madison Bess

Madison oversees the social media strategy at Wisdify and makes sure we stay closely connected with our students, receive their feedback, and provide our students with valuable information.

Prior to Wisdify, Madison successfully ran the social media accounts for multiple companies. She also found time to start her own personal training company (which she still runs).

Madison earned a BA in English from Brigham Young University.

Maryn Coughran

Maryn is a co-founder and leads the marketing and outreach efforts at Wisdify. She ensures we are connecting with our customers, hearing their feedback, and then implementing their suggestions.

Prior to Wisdify, Maryn co-founded (along with Nate) BostonExcel, a Microsoft Excel training company that worked with dozens of companies in virtually every industry. Maryn’s clients included numerous Fortune 1000 companies, prestigious universities, startups and everything in between. She also happened to write and illustrate a children’s book. Let’s just say she’s a woman of many talents.

Maryn earned a BA in Economics from Wellesley College.

The Buckaroos

Gwyn, Jack, and Kate are the adorable tow-heads that lead up Wisdify’s campaigns on cuteness, energy, and sleep-deprivation.