Keywords: Blockchain, Accounting, Financial Management, Real-Time Auditing, Operational Efficiency, Regulatory Compliance.
Md. Hafizul Islam, Lecturer (Accounting & Information Systems): Bangladesh Army University of Science and Technology
Email: [email protected]
Md. Azmir Sharif: Assistant Professor (Accounting & Information Systems), Bangladesh Army University of Science and Technology
Email: [email protected]
Most. Mukta Khatun: Assistant Professor (Accounting & Information Systems), Bangladesh Army University of Science and Technology
Email: [email protected]
Published Date: January-June 2024
Abstract: The integration of blockchain technology into accounting practices represents a significant paradigm shift in financial management. Blockchain's decentralized, transparent, and immutable ledger offers enhanced transparency, fraud prevention, real-time auditing, and operational efficiencies. This study explores the potential of blockchain to revolutionize accounting by examining its key features, benefits, and challenges. Through a qualitative analysis of secondary data, including literature reviews and real-world case studies, this research highlights the transformative impact of blockchain on accounting practices. Findings indicate that while blockchain offers substantial benefits, its adoption is impeded by regulatory uncertainties and the need for technological investments and skill development. Recommendations include developing clear regulatory frameworks, investing in technological infrastructure, and enhancing skill development to facilitate the successful adoption of blockchain in accounting.
