In the Shoes of Luca Pacioli—Double Entry Bookkeeping and Financial Literacy

Budd, Christopher Houghton

doi:10.1007/978-981-10-0360-8_39

Cited by 3 publications

(6 citation statements)

References 6 publications

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“…On the other hand, debit and credit are still not showing whether the implementation for information that mainly adopts blockchain technology is still reliable. Thus, the theory agrees that debits and credits provide reliable information amid blockchain technology because they classify information accurately (Houghton, 2016).…”

Section: Introductionmentioning

confidence: 89%

“…It was concerned with transferring ownership of assets and maintaining an accurate ledger of financial information. The accounting profession is broadly concerned with the measurement and communication of financials and its information analysis (Houghton, 2016;Libby, 2017;Kuznetsov, 2019;Faccia, Moşteanu & Leonardo, 2020;Chowdhury, 2021). At the beginning of its developing, the single-entry bookkeeping system became the powerful tools among the public accounting firm because the simple transaction activities (Platonova, 2016;Deloitee, 2016;Faccia & Mosco, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…This bookkeeping system provides accurate data and a more flexible set of transactions. Therefore, most experts explain that a single entry are lost from the expectations of users of information (Pacioli, 1494;Houghton, 2016;Ibanez et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

“…Many scientists favour the growing argument regarding whether the terms debit and credit provide unbiased information to users of financial information instead of the left and right sides (Pacioli, 1494;Houghton, 2016;Ibanez et al, 2020). Therefore, some theories suggest that debits and credits provide reliable information if the information is equated with the unusualness of the resulting information (Hijfte, 2020).…”

Section: Introductionmentioning

confidence: 99%

“…The power of knowledge will give birth to an understanding of the knowledge event that is a debate from a scientific discipline. The knowledge that can be explored based on the perspective of Foucault's thinking in the blockchain field is the relaxation of knowledge that causes the shaky roots of understanding that have been the centre of attention for the development of the accounting discipline (Houghton, 2016;Libby, 2017;Kuznetsov, 2019).…”

Section: Introductionmentioning

confidence: 99%

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A new paradigm of Luca Pacioli’s bookkeeping on blockchain phenomenon

Cahyono

Haider

Sawarjuwono

2023

JAA

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The objective of this study is to examine the double and triple entry bookkeeping related to blockchain technology bookkeeping. The data we obtained for 30 articles from the database we searched for were provided by major publishers (Elsevier (www.sciencedirect.com), Emerald (www.emeraldinsight.com), Springer (www.springerlink.com), and Wiley (www. wiley.com)) and by service libraries (Complete Business Resources and Web of Science). We show the thoughts of philosopher Foucault regarding the power of knowledge, which will be associated with the phenomenon of the triple-entry and double-entry bookkeeping system paradigms. In addition, we document the blockchain technology has changed the paradigms of both bookkeeping systems. The novelty in this article is the implementation of the philosopher Foucault's thought in the paradigm of the triple-entry and double-entry bookkeeping systems. Our study contributes to expanding the existing literature by providing some arguments and findings regarding the blockchain bookkeeping systems and the future research agenda.AbstrakTujuan dari penelitian ini adalah untuk mengkaji pembukuan double dan triple-entry yang terkait dengan pembukuan teknologi blockchain. Data yang kami peroleh adalah 30 artikel dari database penerbit besar (Elsevier (www.sciencedirect.com), Emerald (www.emeraldinsight.com), Springer (www.springerlink.com), dan Wiley (www.wiley.com)) dan dari perpustakaan layanan (Sumber Daya Bisnis Lengkap dan Web of Science). Kami tunjukkan pemikiran filsuf Foucault mengenai kekuatan pengetahuan, yang akan dikaitkan dengan fenomena paradigma sistem pembukuan triple-entry dan double-entry. Selain itu, kami mendokumentasikan teknologi blockchain telah mengubah paradigma kedua sistem pembukuan tersebut. Kebaruan dalam artikel ini adalah implementasi pemikiran filsuf Foucault dalam paradigma sistem pembukuan triple-entry dan double-entry. Studi kami berkontribusi untuk memperluas literatur yang ada dengan memberikan beberapa argumen dan temuan mengenai sistem pembukuan blockchain dan agenda penelitian di masa depan.

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Section: Introductionmentioning

confidence: 89%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

A new paradigm of Luca Pacioli’s bookkeeping on blockchain phenomenon

Cahyono

Haider

Sawarjuwono

2023

JAA

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Preventing Technological Unemployment by Widening our Understanding of Capital and Progress: Making Robots WorkforUs

Naastepad

Budd

2019

Ethics and Social Welfare

Self Cite

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Unless we direct technology, technology will increasingly direct us, with mass un(der)employment and a possible atrophying of the human soul (i.e. human thinking, feeling and will) as likely consequences. The root of such problems is a failure to understand capital fully, itself a consequence of a failure to understand fully the human condition. The solution is to complete today's incomplete theory of capital so that capital can take on its true role as the enabler of human capacities.

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Understanding the Nature of Accounts Using Comprehensive Tools to Understand Financial Statements

Faccia

Mosco²

2019

FMIR

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Accounting is an integral part of the financial and economic activity of economic entities, regardless of the type of activity and industry in which the enterprise operates. This paper summarizes the arguments and counterarguments in the scientific discussion regarding the nature of accounts in accounting practice. The purpose of the study is to deepen the analysis of European financial accounting practices, in particular in the context of the use of methodological support for the classification of the nature of accounts. Particular emphasis is placed on the evolution of accounting practices: an analysis of the major evolutionary stages that have occurred in different historical periods in accordance with the social needs of society and the economic and financial consequences of such transformational changes. The systematization of literary sources on the subject made it possible to identify three key stages of the evolutionary development of accounting and the essential nature of accounts, in particular: 1) the prerequisites for the emergence of financial and accounting, confirmed by a written accounting record dated 1494; 2) implementation of business continuity accounting based on the use of adjusting records and in-depth study of the nature and nature of accounts; 3) substantiation of the practical implementation of the triple record based on the implementation of blockchain technology. Based on the theoretical studies, the author substantiates the need to use in accounting practice a three-dimensional method of accounting by economic entities, which will more accurately reflect the financial transactions carried out by the company and avoid possible economic mistakes. The study postulates the need to integrate the third book within the accounting system. Summarizing, the author substantiates the need to develop in the future convergent methods of balancing the dual accounting system and maintaining accounts with the third book.

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In the Shoes of Luca Pacioli—Double Entry Bookkeeping and Financial Literacy

Cited by 3 publications

References 6 publications

A new paradigm of Luca Pacioli’s bookkeeping on blockchain phenomenon

A new paradigm of Luca Pacioli’s bookkeeping on blockchain phenomenon

Preventing Technological Unemployment by Widening our Understanding of Capital and Progress: Making Robots WorkforUs

Understanding the Nature of Accounts Using Comprehensive Tools to Understand Financial Statements

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