This coursework assignment carries 20% of the total of 100% for accounting theory course. It is a group-based assignment, 3 to 4 students per group. The tasks/requirements are detailed as below.
The Coursework Task- Context
“Blockchain technology has the potential to upend entire industries. Especially the financial sector may undergo disruptive change. Some claim that blockchain technology might eliminate the need for a financial statement audit. Independent auditors will need to understand blockchain technology. The power of distributed ledger technology promises a wealth of advantages for accounting firms large and small.”“Cryptocurrencies, the most well-known of which is Bitcoin, present overt and major challenges to the accounting profession. Major issues for financial accounting purposes include measurement, recognition, presentation and disclosure. For auditing and other attestation services,….