Application of Blockchain Technology in the Integration of Management Accounting and Financial Accounting
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Blockchain is one of the most popular technologies nowadays. The birth of blockchain technology has solved the problem of reliability of accounting data. The accounting industry should seize the opportunity and actively use blockchain technology to promote industry innovation. At the same time, accounting professionals must also improve their professionalism to adapt to industry changes. The two major branches of modern accounting, financial accounting and management accounting, have become disconnected in practice. Both of them need to rely on different information processing systems for their actual operation. This is not economical for the enterprise, and it is also not conducive to management accounting to play its function of serving the economic management of the enterprise. To this end, the in-depth analysis of the differences between management accounting and financial accounting, and the introduction of “enterprise economic value added”, the unification of the theoretical differences between the two is of great significance to the development of the accounting field. This paper introduces the current research status of accounting information distortion and accounting fraud through the review and analysis of domestic and foreign literatures. Based on the research purpose of this article, it analyzes the characteristics and advantages of blockchain technology, and the impact of blockchain technology on the accounting industry The current status of research on the impact of issues such as research has determined the research theme, ideas, and methods. It also expounds the theoretical basis that will be used to study and build the credibility guarantee mechanism of the accounting information system based on blockchain technology, and then defines and divides the related concepts. This paper uses the basic principles of blockchain, information asymmetry theory, and moral hazard as the theoretical basis. Through questionnaire surveys, it is believed that the current accounting information system makes the original transaction information and the accounting information processing process unreliable, and the quality is worrying. The study found that only 14.5% of the qualified accountants in the experiment. The extreme shortage of accountants, especially senior accounting professionals, is the primary factor restricting the implementation of advanced management accounting methods in China on a large scale.
KeywordsBlockchain technology Management accounting Financial accounting Technology integration Accounting information system
This work was supported by Innovation and Strengthening School Project: Practical Research on Improving Professional Judgment Ability of Accounting Majors (Project No.: CJ19CXQX022); College Students Innovation and Entrepreneurship Project: Research on Innovation and Entrepreneurship Development Mechanism of College Students under the Background of Internet Big Data (Project No.: CJQC2019005).
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