Computer Science
5 years ago

Blockchain Technology Uniting Financial and Management Accounting for Industry Innovation.

Advances in intelligent systems and computing
Application of Blockchain Technology in the Integration of Management Accounting and Financial Accounting
Yanhong Wu, Xiao Wang

Paper Summary

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Blockchain technology is being used to improve the reliability of accounting data. The accounting industry can benefit from this technology to innovate and improve professionalism. Financial and management accounting are currently disconnected, using separate systems. This is inefficient for businesses. By introducing the concept of "enterprise economic value added", the differences between the two branches can be unified. Research shows that the current accounting information system is unreliable, with only 14.5% of qualified accountants producing accurate information. The lack of experienced accountants is hindering the adoption of advanced management accounting methods in China.