Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardization of Ledger Terminology

Ibañez, Juan Ignacio; Bayer, Chris N.; Tasca, Paolo; Xu, Jiahua

doi:10.2139/ssrn.3760220

Cited by 9 publications

(12 citation statements)

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“…This has specific limitations that are presented below. Nevertheless, there is emerging literature on blockchain applications in accounting and related management applications [32]. In that sense, a central contribution is the literature review of such applications in the context of ERP and AIS [74].…”

Section: Methodsmentioning

confidence: 99%

“…These algorithms make it possible to reach a consensus between the various ledger versions, although they are updated independently by the network participants. In addition to the consensus algorithms, to maintain the security and immutability of the register, distributed ledger and blockchain also make extensive use of cryptography [32].…”

Section: Blockchainmentioning

confidence: 99%

“…Precisely due to the particularity and relevance of how the network updates the ledger, the fundamental characteristics that distinguish the various distributed ledger systems are three: (a) type of network; (b) consent mechanism; and (c) register structure. The more adequately called blockchain solutions, those inspired by the Bitcoin platform, add two more features that are not necessarily found in distributed ledger systems: (d) transfers; and (e) assets [32].…”

Section: Blockchainmentioning

confidence: 99%

“…This asset can be natively digital or physical with a digital consideration. Internet of things technologies can help match physical and digital assets [32].…”

Section: Blockchainmentioning

confidence: 99%

“…However, there is not much literature on a specific application to justify this hypothesis. Furthermore, even though ERP vendors have started many blockchain projects (i.e., SAP Leonardo Blockchain) [31,32], there is still limited theoretical applications.…”

Section: Introductionmentioning

confidence: 99%

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Blockchain, Enterprise Resource Planning (ERP) and Accounting Information Systems (AIS): Research on e-Procurement and System Integration

Faccia

Petratos

2021

Applied Sciences

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Accounting information systems (AISs), the core module of any enterprise resource planning (ERP) system, are usually designed as centralised systems. Nowadays, the continuous development and applications of blockchain, or more broadly—distributed ledger technology (DLT), can change the architecture, overcome and improve some limitations of centralised systems, most notably security and privacy. An increasing number of authors are suggesting the application of blockchain technologies in management, accounting and ERPs. This paper aims to examine the emerging literature on this field, and an immediate result is that blockchain applications can have significant benefits. The paper’s innovative contribution and considerable objective are to examine if blockchain can be successfully integrated with AIS and ERPs. We find that blockchain can facilitate integration at multiple levels and better serve various purposes as auditing compliance. To demonstrate that, we analyse e-procurement systems and operations using case study research methodology. The findings suggest that DLT, decentralised finance (DeFI), and financial technology (FinTech) applications can facilitate integrating AISs and ERP systems and yield significant benefits for efficiency, productivity and security.

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Section: Methodsmentioning

confidence: 99%

Section: Blockchainmentioning

confidence: 99%

Section: Blockchainmentioning

confidence: 99%

“…This asset can be natively digital or physical with a digital consideration. Internet of things technologies can help match physical and digital assets [32].…”

Section: Blockchainmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Blockchain, Enterprise Resource Planning (ERP) and Accounting Information Systems (AIS): Research on e-Procurement and System Integration

Faccia

Petratos

2021

Applied Sciences

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Blockchain-based smart contracts as new governance tools for the sharing economy

Fiorentino

Bartolucci

2021

Cities

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Yeni Bir Paradigma Olarak Gerçek Zamanlı Blok Zinciri Muhasebe Sistemi

Alkan

2021

Muhasebe Ve Finansman Dergisi

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The aim of this study is to evaluate the advantages by examining the effect decentralized blockchain applications on accounting information systems. The blockchain as an Distributed Ledger Technology (DLT) offers new possibilities to recording and backing up sensitive and confidential data of accounting information systems. The blockchain is designed in a structure that allows transactions to be monitored and controlled in real-time. By this way, the question of how to operate the real-time accounting system, as a new paradigm with blockchain technology, and how to apply in the field of taxation have emerged simultaneously. To achieve the aim of the study, a descriptive approach was adopted to explore the basics of blockchain technology and the most important accounting practices (such as accounting entries, taxation). For that purpose, the relevant literature on blockchain accounting system were reviewed and the blockchain reports of the big four companies were examined. As a result, the potential advantages of real-time blockchain accounting system were categorized according to four focus points: transparency and trust; disintermediation;smart contracts; continuous audit.

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Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardization of Ledger Terminology

Cited by 9 publications

References 0 publications

Blockchain, Enterprise Resource Planning (ERP) and Accounting Information Systems (AIS): Research on e-Procurement and System Integration

Blockchain, Enterprise Resource Planning (ERP) and Accounting Information Systems (AIS): Research on e-Procurement and System Integration

Blockchain-based smart contracts as new governance tools for the sharing economy

Yeni Bir Paradigma Olarak Gerçek Zamanlı Blok Zinciri Muhasebe Sistemi

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