Reflective Report: Career Paths in Blockchain and Financial Accounting

This report provides a reflection on the accounting profession, focusing on blockchain technology and financial accounting. It explores the role of accountants, particularly in the context of blockchain, highlighting its potential for secure data storage and asset management. The report details the skills needed to become a blockchain developer, including web design, programming, and cryptography, and discusses various applications of blockchain in industries like logistics and healthcare. Furthermore, it examines financial accounting as a career path, emphasizing the importance of communication, spreadsheet proficiency, and mathematical skills. The report concludes by underscoring the significance of accounting in businesses, highlighting the benefits of both blockchain and financial accounting in maintaining accurate records, aiding decision-making, and ensuring financial stability. Desklib offers a platform to access this and other solved assignments.

Reflective Report

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Block chain accounting ...............................................................................................................1
Skills I need to make Blockchain Developer..............................................................................1
Financial Accounting...................................................................................................................2
Conclusion ......................................................................................................................................3
References........................................................................................................................................4

INTRODUCTION
Accountant is the professional who handle the accounting functions like accounts
analysis, Cash flow, auditing, financial statement analysis, balance sheet and so on. Accountant
helps the company to determining the business structure and review the company documents an
contracts (Aifuwa, Embele and Saidu, 2018). Along with they support the company to provide
the guidance to make a successful planning. In this report it give a reflection which is based on
blockchain and accountants work with the company or internal accountant department with the
big companies. Although they may also set up their own offices.
MAIN BODY
Block chain accounting
It is the accounting technology which helps to maintain the ledger of accurate financial
data and obsessed with the movement of a ownership of the assets. It is the localized and
distributed ledgers which is mainly focus on transfer the ownership of assets, they record the
transition transitions in the way which is difficult to manipulate. Along with it is connected in
chronological order and they have a potential to store the long- term data safely. If I looking for a
good career path which is secure and lucrative, so I think block chain is good choice for me, I
want to start my career in this field because blockchain industry is increasing day by day, they
provide many opportunity to me which is beneficial for me (Bakarich and O'Brien, 2021). The
block chain technology is a course and training program which will helps me to provide
accounting knowledge and give me solid foundation which support me to build great career in
blockchain future related field. Blockchain give me many career options such as cryptographic,
data science, Dev Ops and so on which support me to gain more experience and knowledge
related to the my career, Blockchain is future of the internet.
Skills I need to make Blockchain Developer
I need to develop my skills which helps me to gain knowledge. I need to learn web
design, development and programming of apps which support me to developing the batter
Dapps. Along with web designing is very important because most of the company wants
blockchain developers to create the new apps which helps the those people who, don't have
enough knowledge of blockchain, so this app helps to guide them. The seven skills I need to
become a successful Blockchain Developer which are listed below:
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 Blockchain Architecture
 Smart Contract Development
 Data Structures
 Web- development
 Cryptography
 Fundamentals of Object- oriented Programming
 Understand Standards and Eco- systems.
To become a blockchain developer I want to peruse the Bachelor's Degree in Computer Science
and I also need to gain some programming skills which helps me develop my knowledge.
Blockchain are use in many ways such as logistic, government, non- fungible tokens, healthcare,
money transfer, smart contracts, internet of things (IoT). Blockchain is a technology is secure
digital payment systems, which is known as bit gold (Rashid, 2020). It is typically managed by
the peer-to-peer computer network which is used for public distributed Ledgers.
Financial Accounting
It is the field of accounting and which refers to the process which include recording,
summarizing, reporting the financial transactions doing for the business operations over the
period of times. If I choice financial account as my career, so they give me many opportunity
which helps me to build my career, along with if in future I want to start my own business then
this knowledge help me to manage my own financial accounts (Wagaman, 2022).
Benefits of Financial accounting
 It helps to maintain the business records
 They prepare the financial statement of the company and support them to comparison the
result
 Help in Decision making
 Provides information for related parties
 Helps in taxation matters
To make financial accountant in my career I need to develop my skills which help me to provide
information which is related to the accounting. Many companies want well qualified and
knowledge financial accountant for their company. The skills is need are given below:
 Communication- If I don't have good communication skills, none of the skills are
required for finance and accounting would be confirmed my positions in an organisation.
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Good interpersonal skills is very useful for me and my career, because this skills helps
me to gain the trust of the customers and maintain the good image in the company which
is good for my future growth (Sheldon, 2018).
 Proficiency in Spreadsheets- Spreadsheets is very important now a days it helps me to
enhance my knowledge. It is a integral part of an accountant daily routine and proficiency
is spread sheet is considers a main part of accounting skills, it gives many benefits which
is beneficial for me.
 Mathematics- It is the most important skills required in accounting and finance career in
numerical ability. This ability is based on fundamental mathematical skills, I make
financial report in my careers, so I need to get enough knowledge of numericals. I need to
be familiar with the numbers, so that I can relate with the data in the income statement
which include in cash flow statement or a balance sheet (SinghRathore and Park, 2020).
If I choose financial accountant as my career then I have many opportunity in my futures I can
work in both public and private company as a finance accounting and reporting manager, tax
manger,management accounting, audit manger and many more option I have.
Conclusion
In this report it gives a reflections which is based on accounting profession. Accounting
is very important in every business or institution it helps to maintain their accounts and find the
profit and loss of the company. Along with accounting include many profession and field such as
blockchain, financial accountant, auditing and so on. In this report it choice two profession
block chain and financial accountant both profession are very popular in the market. Blockchain
is helps the company to store the data and maintain their file properly. Although financial
accounting helps the company to maintain their daily work which is related to the accountant and
support them to take batter decision.
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References
Books and Journals
Aifuwa, H.O., Embele, K. and Saidu, M., 2018. Ethical accounting practices and financial
reporting quality. EPRA Journal of Multidisciplinary Research, 4(12), pp.31-44.
Bakarich, K.M. and O'Brien, P.E., 2021. The robots are coming… but aren't here yet: The use
of artificial intelligence technologies in the public accounting profession. Journal of
Emerging Technologies in Accounting, 18(1), pp.27-43.
Rashid, M.M., 2020. Presence of professional accountant in the top management team and
financial reporting quality: Evidence from Bangladesh. Journal of Accounting &
Organizational Change, 16(2), pp.237-257.
Sheldon, M.D., 2018. Using blockchain to aggregate and share misconduct issues across the
accounting profession. Current Issues in Auditing, 12(2), pp.A27-A35.
Singh, S.K., Rathore, S. and Park, J.H., 2020. Blockiotintelligence: A blockchain-enabled
intelligent IoT architecture with artificial intelligence. Future Generation Computer
Systems, 110, pp.721-743.
Wagaman, D.D., 2022. Advice for a Successful Career in the Accounting Profession. The CPA
Journal, 92(1/2), pp.17-17.
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