The Future of Accounting: Triple-Entry Accounting Enabled by Blockchain

Arga Bhayangkara Handayanto, Grace Theresia Pontoh () and Muhammad Irdam Ferdiansah
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Arga Bhayangkara Handayanto: Ministry of Finance of Republic of Indonesia
Grace Theresia Pontoh: Hasanuddin University
Muhammad Irdam Ferdiansah: Hasanuddin University

A chapter in Proceedings of the 8th International Conference on Accounting, Management, and Economics (ICAME 2023), 2024, pp 628-667 from Springer

Abstract: Abstract The present accounting and auditing practices are characterised by high costs, extensive labour requirements, and significant time commitments. The field of accounting, auditing, and reporting is undergoing a transformation due to the emergence of new technology and digital innovations. Blockchain is a promising emerging technology that has the potential to elevate traditional double-entry accounting into novel triple-entry accounting, resulting in enhanced system efficiency. The purpose of this research is to provide insight into the academic state-of-the-art of research on triple-entry accounting and its effect on future accounting practices. This article uses a systematic literature review to provide numerous bibliographic analysis and synthesis from scopus indexed articles. The results show that the number of papers and citations indicates a growing interest in scientific research on this particular topic but still in its early stages, reflected by the existing research on blockchain and triple-entry accounting that primarily adopts a qualitative approach. Keyword co-occurrence analysis shows that study on triple-entry accounting’s challenges is least explored. In the future, blockchain is predicted to have the capability to enhance accounting processes through the implementation of triple-entries and smart contracts. The implementation of blockchain technology is also anticipated to have significant implications for the creation of employment opportunities in the long run.

Keywords: Accounting; Triple-Entry Accounting; Blockchain (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-400-6_47

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