Accounting blockchain articles 2018

Research aims : This study aims to conduct a comprehensive accounting and blockchain analysis with a bibliometric study. This study utilized VOSviewer software to provide graphical analysis of bibliometric data and visualization of research results. Research findings : From the visualization, three main groups colors of nine clusters were generated. The red area consists of topics related to blockchain technology, ledger technology, and Bitcoin.

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Content:

• Research on Accounting Information Security Management Based on Blockchain
• Blockchain Technology in Accounting and Auditing
• Blockchain is already changing accounting
• Blockchain Technology: Shaping the Future of the Accountancy Profession
• How Blockchain is Disrupting the Accounting Industry
• A systematic review of blockchain

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Research on Accounting Information Security Management Based on Blockchain

Anwar Halari does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. Because by now, most of us will have heard of Bitcoin and some of us have even jumped on the bandwagon, investing in cryptocurrencies.

In very simple terms, blockchain technology is an open access shared ledger that keeps a record of all the transactions between parties and allows all users to agree on its contents. New information is added in blocks linked to the previous blocks, resulting in a chain of blocks being built. Past records can be viewed but not altered without the consent of the majority.

It can certainly be anticipated that this evolutionary technology is set to spark a huge revolution in the business world. The Australian Securities Exchange is also considering the use of blockchain technology to replace the current clearing and settlement system of share trading.

And even the Bank of England is planning its own Bitcoin-style virtual currency. Major governments around the world have acknowledged and further legitimised the use of Bitcoins as payment vehicles. In fact, more and more major companies are accepting Bitcoins — Microsoft, Virgin Galactic and Subway to name a few.

It seems certain then that blockchain technology has a wide appeal. And although it may be a rocky road ahead, with countries such as India and China banning or restricting the use of cryptocurrencies, crypto is here to stay. A recent report from the Institute of Chartered Accountants in England and Wales on blockchain, claims it is fundamentally an accounting technology. As once the records are agreed upon and validated, the records are bundled into blocks that are virtually impossible to change, making the technology tamper-proof.

Essentially, as the business world adopts the use of accounting systems that use blockchain technology, accountants will spend less time doing the mundane tasks of bookkeeping and reconciliations, and will instead focus their energy and time on the interpretation of information and decision making.

Blockchain technology will also make it easier for accountants to measure the accuracy of data. Meaning that the technology should effectively cut down on fraud and make accounting errors disappear. This implies that the way transactions are recorded and communicated will completely transform between now and then.

It it easy to see then, why accountants of the future will need to educate themselves about Bitcoin and other cryptocurrencies if they are to account for transactions denominated in it. The profession will evolve and adapt massively over the coming years. And in fact, auditors have already started auditing transactions in the blockchain. Universities around the world have already begun offering blockchain-related courses.

Even the professional accountancy bodies now feature blockchain technology in their qualification syllabus. But of course while all this might sound a bit futuristic to some readers, the evolution of money is something that has been going on for centuries. From a barter system to gold bars, metal coins to paper money, to plastic cards. All we are looking at now, is simply the next cycle in evolution — from electronic money to cryptocurrencies. Edition: Available editions Global.

Become an author Sign up as a reader Sign in. Anwar Halari , The Open University. Crypto is here to stay It can certainly be anticipated that this evolutionary technology is set to spark a huge revolution in the business world.

Anthill Bursting the Bitcoin bubble. Events More events.

Blockchain Technology in Accounting and Auditing

The digital revolution is changing everyday business and creating new technologies and tools that allow companies flexibility and simplicity in doing business and increase business performance. The digital age creates new concepts that also affect accounting processing, which presents new challenges in accounting practice. One of the most significant changes and innovations within accounting processing and the financial industry is the emergence of cryptocurrencies that create a completely new financial business concept. Cryptocurrency is the equivalent of electronic money and is completely digital. As cryptocurrencies become more popular, so do taxes on cryptocurrencies that vary from country to country.

Blockchain is already changing accounting

Ahmed, M. Blockchain applications in smart grid—review and frameworks. IEEE Access,7, — Akhmadeev, R. Targets determination model for vat risks mitigation at B2B marketplaces. Entrepreneurship and Sustainability Issues, 7 2 , Agro-industrial cluster: supporting the food security of the developing market economy. Adam R.

Blockchain Technology: Shaping the Future of the Accountancy Profession

Rindasu S. Blockchain in accounting: Trick or treat? Quality — Access to Success. Odintsova T. Transformation of accounting in the digital economy and information society.

How Blockchain is Disrupting the Accounting Industry

This study aims to offer a bibliometric and coding analysis of blockchain articles published in the accounting, auditing and accountability fields. Nonscientific sources such as nonpeer-reviewed books and white papers were excluded. This study reveals a promising and multidisciplinary field of research dominated by scholars and less by practitioners. Qualitative research, especially discourse analysis, is the most used method among authors. This study gives some useful insights about blockchain's definition and characteristics, business models, processes involved, connection with other technologies and relationships with accounting theories. Among the most interesting insights, the results confirm that technology as an external force can create an intersection among several research areas: accounting, auditing, accountability, business, management, computer science and engineering fields.

A systematic review of blockchain

Preparing Future-Ready Professionals. Blockchain technology. Although it has seen fits and starts over the past decade, blockchain and the broader realm of distributed ledger technology, or DLT, are breathing new life into the financial sector, intellectual property, and sustainability. So, what does this have to do with the accountancy profession? Blockchain is a technology that effectively connects people or companies in a direct way or on a peer-to-peer basis. For the past 20 years people have shared information through the internet. They have sent emails, posted to social media, and shared documents.

FEI is working to undertand the impact of blockchain technlogy for senior-level financial executives. What are your thoughts? The fervor around Bitcoin, cryptocurrencies and the underlying blockchain technology is hitting new highs and lows.

Are blockchain and distributed ledger technology the same? This is a common misconception that many people have. We are living in a digital age of sound bites and buzzwords. An age where even complex technological solutions are reduced to five words or less. As a result, we are witnessing a rise in cunning businesses attempting to piggyback the so-called crypto boom. Predictably, using buzzwords such as blockchain technology to attract investment will only deliver short-term gains.

Blockchain-based loan system can be summed up as: information exchange between various government departments; information exchange between enterprises and various financial institutions; detection of the actual use of loans in the form of encrypted currency. This technology is supposed to reduce a lot of financing costs for SMEs on average. Therefore, this research extends complexity theory to discover the factors that affect the use of Blockchain loan systems by SMEs. Complexity, perceived risk, perceived fairness and reward sensitivity prove to have significant effects on usage intention. Complexity proves to have moderating effects on other relationships. This research may contribute to the system performance improvement and provide opportunities for SMEs to share information with financial institutions or individuals around the world, thereby providing investors with equal opportunities for competition.

When you first heard about blockchain technology, it was probably in the context of Bitcoin. In essence, blockchain presents the possibility of a new type of accounting ledger — one that can be continuously updated and verified without the threat of being altered or corrupted. The Big Four accounting firms are leading the way when it comes to blockchain research for accounting practices.