There is no shortage of articles, podcasts or webinars discussing the current state of accounting education, as well as what aspects should be changed to attract and retain students throughout the high school and college pipeline. In addition to these changes, the profession is in the midst of a dramatic technological shift, with tools such as blockchain, tokenized transactions and artificial intelligence (AI) driving change through every aspect of the accounting world. Educators and institutions of higher education find themselves tasked with not only trying to attract and retain students in the face of accounting pipeline challenges, but also trying to integrate these emerging topics and technologies into the classroom. And this is all while seeking to prepare students for a revamped CPA Exam that is both more personalized and more technologically oriented.

While sounding like being between the proverbial rock and hard place, this is actually an opportunity for something many educators have long clamored for: flexibility to experiment and the ability to not just teach from the text or to a certain exam. Let’s take a look at a few strategies that educators can implement today to better integrate technology topics with zero or almost zero cost to students.

AI-Driven Accounting Problems

One approach is to begin by explaining how AI is transforming the accounting field, particularly in areas like automating repetitive tasks, fraud detection and data analysis. Lectures can highlight the growing importance of AI in financial decision-making and how understanding these tools is becoming essential for modern accountants.

Professors can then introduce AI-powered accounting software, demonstrating the features in a classroom setting. Assignments can be designed for students use these tools to automate tasks such as data entry or tax calculation or to analyze large datasets to identify trends and anomalies. This hands-on approach gives students practical experience with the technology they will likely encounter in the workplace.

Some of the software options that provide free trials and/or educator versions for hands-on experience with AI include, but are not limited to, the following:

• QuickBooks provides a free trial with AI features for automating bookkeeping tasks.
• Microsoft Power BI’s educator licenses allow free access to AI-driven data analytics tools.
• MindBridge AI Auditor offers limited free trials, allowing students to explore AI in auditing.

Crypto Integration into Accounting Courses

Instructors can also incorporate case studies that demonstrate how companies are incorporating cryptocurrency in their operations and the specific accounting challenges posed, such as valuing crypto assets, recognizing revenue from crypto transactions and understanding tax obligations in different jurisdictions. The real-world adoption of crypto payments, including by firms with household names like PayPal, provides a wide range of information from which to construct problems, discussions and assignments.

Hands-on projects can involve students in using blockchain-based accounting systems or wallets, allowing them to record transactions using cryptocurrency. Simulated accounting exercises involving crypto transactions help students understand how to report and audit cryptocurrency holdings.

Students could also explore the regulatory environment surrounding cryptocurrency, examining frameworks like the Financial Accounting Standards Board (FASB) guidance on digital assets and the IRS rules for crypto taxation. Since all of these publications are publicly and freely available, these are also excellent resources from which both instructors and students can learn.

Additionally, several crypto wallet and service providers provide free demos or access that can be utilized, including the following:

• Coinbase provides free tools and a sandbox environment for trading and managing cryptocurrencies, including opportunities to take free course and earn crypto as a result.
• Cryptoverse offers free educational modules on cryptocurrency and blockchain for students.
• BitPay has educator resources on accepting and managing crypto payments for financial reporting.
• IBM SkillsBuild offers free access to courses, whitepapers and other learning resources.

Accountants and accounting educators are no strangers to integrating new technologies and tactics into work products; the newest batch of emerging technologies are critical to know and even more important to teach.