8.0 CPE 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.
Chapter 1 – Introduction to Artificial Intelligence
This chapter provides an overview of the basics of AI, including the key concepts related to AI such as machine learning, deep learning, and Natural Language Processing. This chapter provides a discussion of how AI has evolved from its early beginnings. This chapter also provides a discussion of how AI and automation can be used in the accounting profession.
Chapter 2 – AI Technologies in Accounting Software
This chapter provides an overview of how AI is reshaping accounting software, streamlining tasks, improving accuracy, and offering advanced analytics. It covers key AI-driven features like automated data entry, intelligent invoice processing, predictive analytics, fraud detection, risk assessment, and natural language processing. In this chapter, we’ll also explore example case studies which illustrate AI's effectiveness in automating processes.
Chapter 3 – Blockchain
This chapter provides an overview of blockchain technology and some of its implications for the accounting profession. It covers the fundamentals of blockchain, its applications in accounting, and the potential benefits and challenges. The chapter is designed for CPAs and accounting professionals seeking to better understand blockchain technology and how it can be used to potentially enhance their accounting processes.
Chapter 4 – Robotic Process Automation
This chapter provides an overview of the basics of Robotic Process Automation (RPA). This includes a discussion of the key benefits as well as some of the implementation challenges associated with RPA. This chapter provides several examples of how RPA can be used in organizations as well as some of the top providers of RPA technology.
Chapter 5 – Crypto Assets
This chapter provides an overview of the accounting and financial reporting requirements with respect to crypto assets. This includes a discussion of the types of assets that are within the scope of the guidance for crypto assets along with recognition, presentation, and disclosure requirements.
Chapter 6 – Forensic Accounting
This chapter offers a comprehensive overview of forensic accounting, covering the standards guiding these professionals, the essential qualifications, and the experience necessary for success in this field. Additionally, this chapter also outlines a basic five-step process designed to facilitate thorough and meticulously documented engagements, supplemented with examples of the techniques employed by forensic accountants.
Chapter 7 – Cybersecurity Principles
This chapter provides you with some of the essential knowledge and skills to protect sensitive financial data from cyber threats. It covers the fundamentals of cybersecurity, detailing prevalent threats and their impact on individuals and organizations.
Chapter 8 – Cybersecurity Best Practices
This chapter focuses on the importance of cybersecurity best practices in protecting digital assets and privacy. It highlights proactive measures like encryption, access controls, software updates, and employee training to defend against evolving cyber threats
Learning Objectives
- 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.
- Identify key differences in traditional vs. AI-driven accounting software.
- Recognize examples of various types of AI accounting software.
- Identify key components and concepts of blockchain technology.
- Recognize and recall steps in blockchain transactions and consensus mechanisms.
- Discover and distinguish between blockchain and traditional databases.
- Recognize use cases of blockchain for CPAs.
- 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.
- 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.
- 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.
- 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.
- Identify key cybersecurity best practices for protecting digital assets and privacy.
- Recognize the role of encryption and access controls in defending against cyber threats.
- Identify and select proactive measures to improve defenses against evolving cyber adversaries.
- Discover and determine the importance of regular software updates in maintaining cybersecurity.
Prerequisites
No advanced preparation or prerequisites are required for this course.
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