This will examine and analyze the rise of non-fungible tokens (NFTs) alongside the smart contracts that support and manage these tokens.
The underlying technology and components of NFTs, including how these tokens were developed, recent headlines around these tokens, and accounting implications that have arisen. The valuation, tax, and custody issues connected to NFTs. Discussion around smart contracts- the blockchain application that underpins NFTs- including the accounting issues connected to these contracts. External resources provided to provide attendees with additional content and practical advice.
Practitioners at all levels of the accounting function.
Identify what NFTs are, and how they are different from other crypto assets. Recall the accounting issues connected to NFTs. Indicate what a smart contract is, and how they connect to NFTs. Recognize the accounting and control issues linked to smart contracts. Recall how NFTs are connected to smart contracts.
Dr. Sean Stein SmithCPA, CMA, CGMA, CFE is a is a recognized thought leader in the profession and is constantly striving to make a difference for current and future professionals, including his service on the Financial Literacy Commission, and numerous appearances focusing on how individuals get a better handle on their personal finances. Additionally, Sean’s service on the Board of Governors at Fairleigh Dickinson University – the largest private university in the state of NJ - provides Sean with an opportunity to make a different for students enrolled in college in a positive and tangible manner.
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