Cases Make Cryptocurrencies, Blockchain Less Mysterious members working on each case. Assistant Professor Mollie Mathis said this multifaceted approach is an optimal way to let students delve into these emerging technologies without requiring them to have an advanced background in the underlying technologies.
Bitcoin, cryptocurrency, blockchain. These advances increasingly impact the accounting field, presenting both opportunities and challenges to the profession. How can accounting students grasp the intricate technology that drives advances, and what teaching methods are most effective? It is a predicament Associate Professor James Long and fellow faculty members have grappled with for the past several years. In 2013, students worked on a single case involving monetary currency related to Irish pub McGuire’s in Destin, Florida. The case required them to examine the tax, audit, and financial accounting treatment of thousands of dollar bills posted on its walls. However, Long said, the approach for cash proved too simplistic for understanding Bitcoin and blockchain. “We realized that Bitcoin and blockchain are both very extensive—it’s complicated to get your head around exactly what they are,” Long said. “We realized that if we were to try to do one case that touched on each functional area of accounting, it would be too long.” That led to a novel approach, which will eventually be available for accounting instructors worldwide: students work on five separate cases, each examining a specific facet of Bitcoin and/or blockchain. A majority of Auburn School of Accountancy faculty developed the case series, each devoting attention to their subject area of expertise. There is an introductory case and additional cases in tax, financial accounting, audit, and financial valuation, with two to three faculty
Long says the implications could be far-reaching. “There is a lot of excitement about these technologies,” Long said. “The big advantage of these cases is that there is one topic the students can engage with in a number of different classes in the curriculum and walk away with an understanding of not just auditing, financial accounting, and taxes, but also how cryptocurrencies work.”
“The big advantage of these cases is that there is one topic the students can engage with in a number of different classes in the curriculum.”
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In June, Mathis presented “Bitcoin Simulation Case & 4 More Blockchain Cases” to faculty from across the nation at the Intensive Data and Analytics Summer Workshop in Orlando. She said the approach generated significant interest from attendees, and the group anticipates a widespread adoption of the cases after they are published. The objective: students walk away from these cases with a solid understanding of Bitcoin and other cryptocurrencies as well as the inner workings of blockchain. Mathis says this collaborative approach marks a turning point. “It is our hope that students will not only increase their knowledge related to new technologies that are transforming our profession, but also develop stronger critical thinking skills,” she added.
Dr. Mollie Mathis Winter 2020 The SOA Connection 17
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