3. (MONEY MATTERS) CRYPTO CRASH COURSE - KASFIA RASHID

S5E23
14:59
May 15th 2021

So what the heck is it? Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.

According to Wikipedia: A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.[1][2] It typically does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems.[3] When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.[4]

More than 6,700 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. And cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs. The total value of all cryptocurrencies on April 13, 2021, was more than $2.2 trillion, according to CoinMarketCap, and the total value of all bitcoins, the most popular digital currency, was pegged at about $1.2 trillion. According to Jan Lansky, a cryptocurrency is a system that meets six conditions:[18]

The system does not require a central authority; its state is maintained through distributed consensus.
The system keeps an overview of cryptocurrency units and their ownership.
The system defines whether new cryptocurrency units can be created. If new cryptocurrency units can be created, the system defines the circumstances of their origin and how to determine the ownership of these new units.
Ownership of cryptocurrency units can be proved exclusively cryptographically.
The system allows transactions to be performed in which ownership of the cryptographic units is changed. A transaction statement can only be issued by an entity proving the current ownership of these units.
If two different instructions for changing the ownership of the same cryptographic units are simultaneously entered, the system performs at most one of them.

MONEY MATTERS WITH KASH THE BOOKKEEPER

“Making good judgements when one has complete data, facts, and knowledge is not leadership- it’s bookkeeping.”-Dee Hock FOUNDER AND CEO EMERITUS VISA USA AND VISA INTERNATIONAL, NOW VISA INC

My name is Kasfia Rashid but you can call me Kash. It is my job to prepare you to understand the language of business AKA accounting. Think about it, what is the first thing you learn when you decide to travel to a foreign country? The language, of course! Warren Buffett, said that accounting is the language of business. So who better to learn from than an accountant with over 16 years worth of experience!

My mission is to repair the gap between small business owners and their bookkeeping processes. Take back control of your business and leave the bookkeeping to me. I am not your average bookkeeper. I understand that discussing money is difficult, my no-nonsense attitude combined with a no-judgement approach creates a safe environment. Ready to add the expertise of a corporate back office accounting manager to your small business?

Accounting Coach
Quickbooks Online
Monthly Bookkeeping Maintenance

“Money matters-Ask the Bookkeeper” is all about answering burning accounting questions! You know, the ones you would only ask your best bookkeeping buddy. Each show will have one main question from the audience with supporting questions from my various travels. Have a question to ask? Don’t be shy, step right on up. We will follow the same path as last season with two shows on each of the main concepts of accounting and one show for each financial statement!

Each episode has additional written information your might find helpful. Here is a complete listing of Show Notes. Want to continue the conversation? Add your thoughts in the comments section available at the bottom of each page of notes on the site. Simply click "read more" and let's get the conversations started!

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Kasfia Rashid

Kash the Bookkeeper

Kash grew up in Brooklyn, NY and is a proud only child of a single mother who immigrated from Bangladesh.

Her accounting career started at age 8 when it was discovered that someone was skimming from her piggy back. After a careful audit of her records (kept in a little pink book) she confronted her mother about the missing funds.

In 2003 (12 years later-finally allowed out again) she started working in a Manhattan CPA firm while earning her degree in accounting with a double major in finance and economics.

Her corporate career ended in the hedge fund industry in 2014. She is a QuickBooks Online certified pro, and excel wizard and an automation expert. By having Kash as your bookkeeper you gain a partner, who acts as an extension of your C-class executive team, bringing the expertise of a corporate back office accounting manager to your small business.

When she is not managing small business’s books and records, Kash can be found networking at her BNI meeting on Tuesdays, attending monthly WHIMBY events, and other various networking organizations around town.

Kash broadcasts from Richmond, VA