Episode 44 | How to become a Crypto Accountant (Best of episode)

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Apr 24, 2023

Explore the fascinating world of crypto accounting and its impact on traditional practices. Discover how technology is reshaping the profession and why many accountants might become redundant. Learn about triple entry accounting and the inefficiencies of spreadsheets. Hear insights from industry leaders on navigating the complexities of crypto assets and emerging career opportunities in Web3. This conversation emphasizes the need for accountants to adapt, innovate, and embrace automation in an evolving landscape.

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INSIGHT

CEOs of the Future

CEOs will be technology people, not accountants, in the future.
Accountants need to learn technology, like smart contracts, to stay relevant.

INSIGHT

Triple-Entry Accounting

Triple-entry accounting uses cryptography to create shared, reliable transaction records.
It removes the need to trust a third party by using 'signed messages'.

ADVICE

Accounting for Crypto

Crypto assets do not have their own accounting standard yet.
They are accounted for as intangible assets.

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If you’ve never listened to this podcast, this will be a good intro on the impact of blockchain in accounting.

After recording 43 episodes, I thought it’s high time that I revisit some of the content and share the best best bits on what’s this podcast all about - helping you become a web3 accountant.

You know even if the name of this show is called The Accountant Quits, it’s not about me quitting my accounting job,

But rather it’s a bigger movement of accountants witnessing how technology is making them redundant in the near future.

I’m convinced that you can slowly use the accounting knowledge you have to learn blockchain , and then the sky really is the limit.

Topics covered;

Intro on how to become a crypto accountant (00:39)
Monica Singer from Consensys, on why CEOs won’t be accountants anymore (3:10)
Juan Iganacio Ibanez, on what triple entry accounting means (5:58)
Thank you to our sponsor Cryptoworth (17:29)
Shehnaaz Suleman, a Partner from BDO, on how to account for crypto assets (11:36)
Christophe Lassuyt, the CEO of Request Finance, on the emerging career opportunities for accountants with web3 (16:34)
Thank you to our sponsor Web3CFO Club (20:10)
Antoine Scalia, the CEO of Cryptio, on why spreadsheets are inefficient for crypto accounting, & why you need an automated crypto accounting solution (21:52)
Geeth Jay, the CEO of Cryptoworth on how can accountants start to specialize themselves on different blockchains (26:56)

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