The Imperative for Blockchain Accounting

For hundreds of years, the basic flowchart of accounting information has been the same.  A firm records its own transactions, maintains a record of those transactions, and reports those transactions (Soll, 2014, xiv).  Trends in technology make it inevitable that this basic information flowchart will end.  In the future, multiple parties will record each transaction, and many more parties will maintain encrypted copies of each transaction.  Anyone with the required keys to access a firm’s records will be able to generate financial reports for the firm.

For historical reasons, the move to blockchain is inevitable.  Over the centuries, information records … Read more

Did Boeing’s Compensation Committee Play a Role in the 737 Max Scandal?

The Boeing 737 Max scandal is one of the most serious corporate crises in U.S. history.  While companies like Enron, Arthur Andersen, and Lehman Brothers were replaceable, Boeing is not.  Consumers and airlines around the world now view the 737 brand as toxic, a point echoed by a recent tweet by President Trump.[1]  Boeing is more than just an industrial company.  It represents American industrial and engineering prowess to the world.  Boeing’s failure is a national failure and represents a loss in American power and influence.  This may be the first time the world followed China’s example on an … Read more