Blockchain accounting journal
Blockchain, as a decentralized ledger technology with characteristics of transparent, secure, permanent and immutable, has been applied in many fields such as cryptocurrency, equity financing, and corporate governance. However, the blockchain technology is in the experimental stage and has several problems to be solved including limited data processing capacity, information confidentiality, and regulatory difficulties. This study sheds light on the potential application of blockchain technology in financial accounting and its possible impacts. We argue that in the short run the public blockchain could be used as a platform for firms to voluntarily disclose information.
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Content:
- Blockchain : the introduction and its application in financial accounting
- Blockchain and the future of accountancy
- Blockchain and the Future of Accounting
- Implementation of Blockchain Technology in Accounting Sphere
- From Blockchain to Accounting Profession: Evidence from Indonesia
- CONSTRUCT IDENTIFICATION ON BLOCKCHAIN IMPLEMENTATION IN EMERGING ACCOUNTING AND ASSURANCE DOMAIN
- Survey on Blockchain Based Accounting and Finance Algorithms Using Bibliometric Approach
- Blockchain and Distributed Ledger Technology
Blockchain : the introduction and its application in financial accounting
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Journal: Journal of Applied Economic Sciences Abstract: Blockchain is distributed ledger technology praised by many tech savvy executives to disrupt and change many businesses in the future, including the accounting and assurance profession.
This study critically assesses the disruptive potential of the technology for modern accounting information systems and accounting professionals. It summarizes limitations and constraints of the technology through qualitative research of academic literature, professional documents and tech websites. The study discusses scalability, transaction costs, interoperability and confidentiality issues as most significant constraints for accelerated adoption and deployment of blockchain based accounting information systems.
The economic case of blockchain based accounting information system, real cases of practical implementation and appropriate governance structures are suggested as important areas for future research efforts. Page view s Download s Google Scholar TM Check. Atanasovski, A. Blockchain is distributed ledger technology praised by many tech savvy executives to disrupt and change many businesses in the future, including the accounting and assurance profession. The blockchain technology and its limitations for true disruptiveness of accounting and assurance.
Blockchain and the future of accountancy
Blockchain technology has become a world discussion due to its excellence in security, increasing trust, and real-time information availability. Also, it is strongly believed to promote excellent improvements in the accounting sphere. Blockchain would undertake the accounting profession's roles. The potential impact of Blockchain on accounting like reduced fraud, reduced auditing, improved regulatory compliance, easier reconciliation, and improved efficiency. However, there is a concern about will the accountants lose their job. For that reason, the study aims to analyze accountants' perspectives of blockchain on the impact on the accounting profession in Indonesia.
Blockchain and the Future of Accounting
Financial Innovation volume 5 , Article number: 27 Cite this article. Metrics details. Blockchain is considered by many to be a disruptive core technology. Although many researchers have realized the importance of blockchain, the research of blockchain is still in its infancy. Consequently, this study reviews the current academic research on blockchain, especially in the subject area of business and economics. Based on a systematic review of the literature retrieved from the Web of Science service, we explore the top-cited articles, most productive countries, and most common keywords. The concepts of bitcoin and blockchain were first proposed in by someone using the pseudonym Satoshi Nakamoto, who described how cryptology and an open distributed ledger can be combined into a digital currency application Nakamoto Some of the advantages of blockchain include its distributed ledger, decentralization, information transparency, tamper-proof construction, and openness. The evolution of blockchain has been a progressive process. Blockchain is currently delimited to Blockchain 1.
Implementation of Blockchain Technology in Accounting Sphere
This paper aims to identify the main impacts of Blockchain as accounting audit as well the advantages and disadvantages facing future challenges to auditing. The methodology used was basic qualitative research, and review topics with exploratory aims, such as technical procedures. It was identified that Blockchain is little related to accounting auditing. Results show that the number of financial institutions and organizations that invest in Blockchain is rising, considering that it is related to a distributed ledger that provides a major transparency in the financial transactions of the organizations, which suggests that in the very near future financial institutions and organizations will use Blockchain to interact with each other and in this context internal and external auditing might be continuous, having in mind that in Blockchain financial transactions are available in real time for the auditors and available to auditing. In addition, the distributed ledger enables auditors to access information in new formats, and consequently changes in work roles will occur.
From Blockchain to Accounting Profession: Evidence from Indonesia
Blockchain is one of the most promising technological innovations of recent times, with the potential to change the very way information systems are used by the accounting function. It is however expected to be disruptive and yet to see high adoption rates. Identification of factors influencing the adoption is required to empower the accounting fraternity to harness the full potential of blockchains. This study is one of the first to inductively explore and develop an adoption model for blockchains as well as for accounting applications with theoretical groundings in the Technology-Organization-Environment TOE framework, which has been extended with a variable for trust. Triangulation of methods and data sources used in this study contributed to the depth of research and understanding.
CONSTRUCT IDENTIFICATION ON BLOCKCHAIN IMPLEMENTATION IN EMERGING ACCOUNTING AND ASSURANCE DOMAIN
This paper provides a structured literature review of blockchain in accounting. The authors identify current trends, analyse and critique the key topics of research and discuss the future of this nascent field of inquiry. From this, the authors analysed and critiqued the current and future research trends in the four most predominant topics of research in blockchain for accounting. Blockchain is not yet a mainstream accounting topic, and most of the current literature is normative. The four most commonly discussed areas of blockchain include the changing role of accountants; new challenges for auditors; opportunities and challenges of blockchain technology application; and the regulation of cryptoassets. While blockchain will likely be disruptive to accounting and auditing, there will still be a need for these roles.
Survey on Blockchain Based Accounting and Finance Algorithms Using Bibliometric Approach
Blockchain, popularly characterized as a distributed ledger technology, has been perceived as a revolutionary innovation. Due to its rapid development, blockchain has the capabilities to influence many domains, including accounting and assurance. Besides improving the efficiency and effectiveness of a business, blockchain has several features that ensure any information's reliability.
Blockchain and Distributed Ledger Technology
RELATED VIDEO: Accounting for Cryptocurrencies under IFRSCross-border transactions have been more and more popular around the world. However, the current cross-border transactions still have risks and challenges, e. To address this critical issue, we construct a new framework for the transaction system with the support of blockchain technology. In this paper, we propose a new consortium blockchain system, namely asymmetric consortium blockchain ACB , to ensure the implementation of cross-border transactions. Different from traditional consortium blockchain, the new blockchain system could support the supernode to regulate all the transactions timely. Furthermore, the new smart contract is designed to lower the opportunity loss for each node and make the profits allocation system fairer.
Blockchain will be the future of accounting education. Triple entry accounting system is here, and shared ledger has been considered. From the shared ledger different parties can access transactions. As our discussion reveals that distributed ledger, Smart contract and Blockchain are three important elements in the triple entry accounting system. As a result, blockchain technology is helping the upgrading the process of education system.
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