Blockchain technology roles to overcome accounting, accountability and assurance barriers in supply chain finance

IF 2.3 Q2 BUSINESS, FINANCE
Arief Rijanto
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引用次数: 0

Abstract

Purpose

Know your customer (KYC), accounting standards, issuance, clearing, and trade settlement became the major barrier to implement accounting, accountability and assurance process in supply chain finance (SCF). Blockchain technology features have the potential to solve accounting problems. This research focuses on exploring how blockchain technology provides solutions to overcome the barriers of accounting process in SCF. The benefits, opportunities, costs and risks related to blockchain adoption are also explored.

Design/methodology/approach

Multi-case study and qualitative methods are used with a framework based on blockchain role to overcome the accounting process barriers. Ten blockchain projects in SCF and 29 interviews of participants as a unit of analysis are considered.

Findings

The findings indicate that blockchain technology offers solutions to solve accounting, accountability and assurance problems in SCF. Validity, verification, smart contracts, automation and enduring data on trade transactions potentially solve those barriers. However, it is also necessary to consider costs such as implementation, technology, education and integration costs. Then there are possible risks such as regulatory compliance, operational, code development and scalability risk. This finding reflects the current status of blockchain technology roles in SCF.

Research limitations/implications

This study unveils blockchain's SCF accounting potential, emphasizing multi-case method limitations and future research prospects. Diverse contexts challenge findings' applicability, warranting cross-industry studies for deeper insights. Addressing selection bias and integrating quantitative measures can enhance understanding of blockchain's accounting impact.

Practical implications

Accounting professionals can get an idea of the future direction and impact of blockchain technology on accounting, accountability and assurance processes.

Originality/value

This study provides initial findings on the potential, costs and risks of blockchain that is beneficial for parties involved in SCF, especially for banks and insurance underwriters. In addition, the findings also provide direction for the contribution of blockchain technology to accounting theory in the future.

区块链技术在克服供应链金融中的会计、问责和保证障碍方面的作用
目的 "了解你的客户"(KYC)、会计准则、发行、清算和贸易结算成为供应链金融(SCF)实施会计、问责制和保证流程的主要障碍。区块链技术具有解决会计问题的潜力。本研究重点探讨区块链技术如何为克服供应链金融中的会计流程障碍提供解决方案。设计/方法/途径采用多案例研究和定性方法,基于区块链在克服会计流程障碍中的作用的框架。研究结果研究结果表明,区块链技术为解决 SCF 中的会计、问责和保证问题提供了解决方案。有效性、验证、智能合约、自动化和贸易交易的持久数据有可能解决这些障碍。但是,也有必要考虑成本,如实施、技术、教育和整合成本。此外,还可能存在监管合规、运营、代码开发和可扩展性风险等风险。本研究揭示了区块链的 SCF 会计潜力,强调了多案例方法的局限性和未来研究前景。不同的背景对研究结果的适用性提出了挑战,因此有必要进行跨行业研究,以获得更深入的见解。解决选择偏差和整合定量衡量标准可以加深对区块链会计影响的理解。原创性/价值本研究提供了有关区块链潜力、成本和风险的初步发现,这对参与 SCF 的各方,尤其是银行和保险承保人有益。此外,研究结果还为区块链技术在未来对会计理论的贡献提供了方向。
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来源期刊
Asian Review of Accounting
Asian Review of Accounting BUSINESS, FINANCE-
CiteScore
3.20
自引率
25.00%
发文量
32
期刊介绍: Covering various fields of accounting, Asian Review of Accounting publishes research papers, commentary notes, review papers and practitioner oriented articles that address significant international issues as well as those that focus on Asia Pacific in particular.Coverage includes but is not limited to: -Financial accounting -Managerial accounting -Auditing -Taxation -Accounting information systems -Social and environmental accounting -Accounting education Perspectives or viewpoints arising from regional, national or international focus, a private or public sector information need, or a market-perspective or social and environmental perspective are greatly welcomed. Manuscripts that present viewpoints should address issues of wide interest among accounting scholars internationally and those in Asia Pacific in particular.
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