The Impact of Blockchain Technology on Accounting: A Literature Review
DOI:
https://doi.org/10.7250/csimq.2024-41.03Keywords:
Blockchain, Accounting, Literature ReviewAbstract
This study examines the transformative role of blockchain technology in accounting through a literature review of 99 articles sourced from the Scopus database. The research highlights three primary themes: blockchain’s impact on accounting practices, its implications for auditing, and its influence on financial reporting. Using a structured three-step framework – data collection, analysis, and synthesis – this study identifies key trends, research gaps, and future research directions. The findings demonstrate that blockchain enhances data transparency, security, and efficiency while introducing challenges related to integration, regulatory frameworks, and adoption by accounting professionals. This literature review underscores the potential of blockchain to revolutionize accounting through innovations like triple-entry accounting while highlighting the need for standardized guidelines and deeper empirical research. The study provides insights for academics, practitioners, and policymakers seeking to navigate the integration of blockchain technology in accounting systems.
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