The Creation of One Truth: Single-Ledger Entries for Multiple Stakeholders Using Blockchain Technology to Address the Reconciliation Problem

Gomaa, Ahmed; Gomaa, Mohamed I.; Boumediene, Salem Lotfi; Farag, Magdy

doi:10.2308/jeta-19-06-01-28

Cited by 4 publications

(2 citation statements)

References 12 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The cloud computing market is estimated to have reached $182bn in 2018 and is projected to reach $597.3bn in 2023, up from $491bn in 2022 (Gartner, 2023). Cloud computing is radically changing how enterprises view, use and pay for computing resources.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Smart contracts also play an important role in expediting the recording process by instantly updating account information and tracking supply chains through real-time analytics (Karajovic et al, 2019). Blockchain can simplify operations, lower costs and shorten transaction settlement and reconciliation time, reduce counterpart risk and fraud and enhance regulation and capital liquidity (Han et al, 2023;Gomaa et al, 2023).…”

Section: Blockchainmentioning

confidence: 99%

See 1 more Smart Citation

The impact and adoption of emerging technologies on accounting: perceptions of Canadian companies

Baiod,

Hussain

2024

IJAIM

View full text Add to dashboard Cite

Purpose This study aims to focus on the five most relevant and discursive emerging technologies in accounting (cloud computing, big data and data analytics, blockchain, artificial intelligence (AI) and robotics process automation [RPA]). It investigates the adoption and use of these technologies based on data collected from accounting professionals in a technology-developed country – Canada, through a survey. Design/methodology/approach The study investigates the adoption and use of emerging technologies based on data collected from accounting professionals in a technology-developed country – Canada, through a survey. This study considers the said nature and characteristics of emerging technologies and proposes a model using the factors that have been found to be significant and most commonly investigated by existing prior technology-organization-environment (TOE)-related technology adoption studies. This survey applies the TOE framework and examines the influence of significant and most commonly known factors on Canadian firms’ intention to adopt the said emerging technologies. Findings Study results indicate that Canadian accounting professionals’ self-assessed knowledge (about these emerging technologies) is more theoretical than operational. Cloud computing is highly used by Canadian firms, while the use of other technologies, particularly blockchain and RPA, is reportedly low. However, firms’ intention about the future adoption of these technologies seems positive. Study results reveal that only the relative advantage and top management commitment are found to be significant considerations influencing the adoption intention. Research limitations/implications Study findings confirm some results presented in earlier studies but provide additional insights from a new perspective, that of accounting professionals in Canada. The first limitation relates to the respondents. Although accounting professionals provided valuable insights, their responses are personal views and do not necessarily represent the views of other professionals within the same firm or the official position of their accounting departments or firms. Therefore, the exclusion of diverse viewpoints from the same firm might have negatively impacted the results of this study. Second, this study sample is limited to Canada-based firms, which means that the study reflects only the situation in that country. Third, considering the research method and the limit on the number of questions the authors could ask, respondents were only asked to rate the impact of these five technologies on the accounting field and to clarify which technologies are used. Practical implications This study’s findings confirm that the organizational intention to adopt new technology is not primarily based on the characteristics of the technology. In the case of emerging technology adoption, the decision also depends upon other factors related to the internal organization. Furthermore, although this study found no support for the effect of environmental factors, it fills a gap in the literature by including the factor of vendor support, which has received little attention in prior information technology (IT)/ information system (IS) adoption research. Moreover, in contrast to most prior adoption studies, this study elaborates on accounting professionals’ experience and perceptions in investigating the organizational adoption and use of emerging technologies. Thus, the findings of this study are valuable, providing insights from a new perspective, that of professional accountants. Social implications The study findings may serve as a guide for researchers, practitioners, firms and other stakeholders, particularly technology providers, interested in learning about emerging technologies’ adoption and use in Canada and/or in a relevant context. Contrary to most prior adoption studies, this study elaborates on accounting professionals’ experience and perceptions in investigating the organizational adoption and use of emerging technologies. Thus, the findings of this study are valuable, providing insights from a new perspective, that of professional accountants. Originality/value The study provides insights into the said technologies’ actual adoption and improves the awareness of firms and stakeholders to the effect of some constructs that influence the adoption of these emerging technologies in accounting.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Section: Blockchainmentioning

confidence: 99%

The impact and adoption of emerging technologies on accounting: perceptions of Canadian companies

Baiod,

Hussain

2024

IJAIM

View full text Add to dashboard Cite

show abstract

REA, Triple-Entry Accounting and Blockchain: Converging Paths to Shared Ledger Systems

Ibañez,

Bayer,

Tasca

et al. 2023

JRFM

View full text Add to dashboard Cite

During the last half century, the concept of shared ledger systems that offer a single source of truth has challenged traditional bookkeeping, leading to innovations such as the resource-event-agent (REA) accounting framework, triple-entry accounting (TEA), and blockchain. Despite these advancements, the historical development of shared ledger systems remains under-researched and unclear, with the influence of REA on TEA particularly overlooked. This study aims to fill this gap by conducting a genealogical analysis of shared ledger systems, with a focus on tracing the development of TEA and its historical byproduct of the REA framework designed by McCarthy. Through a comprehensive literature review and interviews with pioneers in REA, TEA, and blockchain, we uncover the missing link between REA and TEA. Our findings suggest that the current explosion of shared ledger systems results from the convergence of three parallel research streams, occasionally interacting with each other. We correct common misconceptions, acknowledge the influence of key individuals, and map out the overlapping paths of REA, TEA, and blockchain. By elucidating the historical evolution of shared ledger systems, this study contributes to the academic debate and fosters further discourse among researchers in REA, TEA, and blockchain, thereby enhancing the potential applications within these fields.

show abstract

Blockchain for Accounting and Auditing—Accounting and Auditing for Cryptocurrencies: A Systematic Literature Review and Future Research Directions

Georgiou,

Sapuric,

Lois

et al. 2024

JRFM

View full text Add to dashboard Cite

The aim of this study is to analyze and synthesize the key challenges that are prevalent in the application of blockchain in accounting and auditing, to study the approaches to account for cryptocurrencies, to study the effect of blockchain on the accounting and auditing profession, and to identify the current direction of research of blockchain in accounting and auditing, as well as identify potential avenues of future research. The research is based on 75 peer-reviewed academic studies on the topic of blockchain in accounting and auditing, followed by a descriptive and thematic analysis of the literature. Our results indicate that there is a need for more empirical studies to be carried out, which coincides with the notion of growing digitization and blockchain adoption in accounting and auditing. Based on our thematic analysis of the literature, we recommend that future research on blockchain in accounting and auditing should concentrate on the following specific areas: skills and education, governance, auditor independence, accounting standards and regulation, and the challenges faced by the accounting and auditing professions due to the adoption of blockchain technology.

show abstract

The Creation of One Truth: Single-Ledger Entries for Multiple Stakeholders Using Blockchain Technology to Address the Reconciliation Problem

Cited by 4 publications

References 12 publications

The impact and adoption of emerging technologies on accounting: perceptions of Canadian companies

The impact and adoption of emerging technologies on accounting: perceptions of Canadian companies

REA, Triple-Entry Accounting and Blockchain: Converging Paths to Shared Ledger Systems

Blockchain for Accounting and Auditing—Accounting and Auditing for Cryptocurrencies: A Systematic Literature Review and Future Research Directions

Contact Info

Product

Resources

About