TY - GEN
T1 - Triple-Entry Accounting (TEA) and Blockchain Implementation in Accounting and Finance - A Survey
AU - Joseph, Robinson
AU - Sharma, Rahul
AU - Sarwar, Muhamamd Imran
AU - Khan, Imran
AU - Akram, Ali Sheraz
AU - Alyas, Tahir
AU - Atif, Shehzada
AU - Paramaiah, Ch
N1 - Publisher Copyright:
© 2023 IEEE.
PY - 2023
Y1 - 2023
N2 - Accounting practices are based on their underlying accounting principles, and currently, the Double-Entry Accounting (DEA) is used in both manual and computer-based Accounting Information Systems (AIS). DEA has been used for centuries according to the rules that were set when it was invented. At this stage, there is no further room to expand its functionality, but a logical expansion of DEA is possible. This new dimension is called Triple-Entry bookkeeping in which a third accounting entry is passed in a shared ledger that is distributed in nature and publicly visible. Similarly, Blockchain is a form of shared ledger distributed on a peer-to-peer network, and all transactions in the ledger are available to view. Blockchain emerged in 2008 as an underlying record-keeping and data storage technology for Bitcoin. It is believed that TEA is the idea behind the Blockchain. In this research study, we review the evolution of TEA and Blockchain from the existing academic literature, and the findings of the study will deepen the researchers' understanding of these two concepts and help them identify new opportunities.
AB - Accounting practices are based on their underlying accounting principles, and currently, the Double-Entry Accounting (DEA) is used in both manual and computer-based Accounting Information Systems (AIS). DEA has been used for centuries according to the rules that were set when it was invented. At this stage, there is no further room to expand its functionality, but a logical expansion of DEA is possible. This new dimension is called Triple-Entry bookkeeping in which a third accounting entry is passed in a shared ledger that is distributed in nature and publicly visible. Similarly, Blockchain is a form of shared ledger distributed on a peer-to-peer network, and all transactions in the ledger are available to view. Blockchain emerged in 2008 as an underlying record-keeping and data storage technology for Bitcoin. It is believed that TEA is the idea behind the Blockchain. In this research study, we review the evolution of TEA and Blockchain from the existing academic literature, and the findings of the study will deepen the researchers' understanding of these two concepts and help them identify new opportunities.
KW - Accounting Information Systems
KW - Blockchain
KW - Double-Entry Accounting
KW - Enterprise Resource Planning
KW - Triple-Entry Accounting
UR - https://www.scopus.com/pages/publications/85160782853
U2 - 10.1109/ICBATS57792.2023.10111259
DO - 10.1109/ICBATS57792.2023.10111259
M3 - Conference contribution
AN - SCOPUS:85160782853
T3 - 2nd International Conference on Business Analytics for Technology and Security, ICBATS 2023
BT - 2nd International Conference on Business Analytics for Technology and Security, ICBATS 2023
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 2nd International Conference on Business Analytics for Technology and Security, ICBATS 2023
Y2 - 7 March 2023 through 8 March 2023
ER -