Blockchain implications for the accounting realm: A critique of extant studies

Titolo Rivista MANAGEMENT CONTROL
Autori/Curatori Rosanna Spanò, Maurizio Massaro, Adele Caldarelli, Carlo Bagnoli
Anno di pubblicazione 2023 Fascicolo 2023/1
Lingua Inglese Numero pagine 22 P. 21-42 Dimensione file 255 KB
DOI 10.3280/MACO2023-001002
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Qui sotto puoi vedere in anteprima la prima pagina di questo articolo.

Se questo articolo ti interessa, lo puoi acquistare (e scaricare in formato pdf) seguendo le facili indicazioni per acquistare il download credit. Acquista Download Credits per scaricare questo Articolo in formato PDF

Anteprima articolo

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

The current paper critically explores current research on the topic of accounting and blockchain. It draws from the commonly accepted categorization of account-ing studies into financial accounting, managerial accounting, taxation, and other accounting-related subjects. Borrowing this categorization and assuming a more holistic posture to observe blockchain implications for accounting, the study dis-cusses how blockchain can contribute to each building block of accounting studies and helps expand the boundaries of accounting research. The piece has relevance for the academic debate and, above all, for practitioners and policymakers, raising several issues that need to be dealt with in the foreseeable future

Keywords:Blockchain, Financial accounting, Managerial accounting, Taxation, Other accounting-related issues

  1. Allen Darcy W.E., Berg C., Markey-Towler B., Novak, M., Potts J. (2020). Blockchain and the Evolution of Institutional Technologies: Implications for Innovation Policy, Research Policy, 49(1), pp. 1-8.
  2. Benedict G. (2019). Challenges of DLT-Enabled Scalable Governance and the Role of Standards. Journal of ICT Standardization, 7(3), pp. 195-207.
  3. Bonsón E., Bednárová M. (2019). Blockchain and its implications for accounting and auditing, Meditari Accountancy Research, 27(5), pp. 725-740. DOI: 10.1108/MEDAR-11-2018-0406
  4. Borup M., Brown N., Konrad K., Van Lente H. (2006). The sociology of expectations in science and technology, Technology analysis & strategic management, 18(3-4), pp. 285-298. DOI: 10.1080/09537320600777002
  5. Broadbent J., Dietrich M., Laughlin R. (1996). The development of principal-agent, contracting and accountability relationships in the public sector: Conceptual and cultural problems, Critical perspectives on accounting, 7(3), pp. 259-284.
  6. Broadbent J., Laughlin R. (2009). Performance Management Systems: A Conceptual Model, Management Accounting Research 20(4), pp. 283-95.
  7. Broadbent J., Laughlin R. (2013). Accounting Control and Controlling Accounting: Interdisciplinary and Critical Perspectives. Bingley: Emerald Group Publishing.
  8. Cai Y., Zhu D. (2016). Fraud Detections for Online Businesses: A Perspective from Blockchain Technology, Financial Innovation 2(1), pp. 1-10.
  9. Carrasco H., Romi A.M. (2022). Toward an Omniopticon: The Potential of Blockchain Technology toward Influencing Vulnerable Populations in Contested Markets, Accounting, Auditing and Accountability Journal, 35(7), pp. 1685-1713. DOI: 10.1108/AAAJ-08-2020-4732
  10. Centobelli P., Cerchione R., Del Vecchio P., Oropallo E., Secundo G. (2022). Blockchain technology design in accounting: Game changer to tackle fraud or technological fairy tale?, Accounting, Auditing & Accountability Journal, 35(7), pp. 1566-1597. DOI: 10.1108/AAAJ-10-2020-4994
  11. Centorrino G., Naciti V., Rupo D. (2022). From Double-Entry Bookkeeping and Ledger to Blockchain Technology: New Frontiers for Accounting Information Systems, Management Control, 2, pp. 15-41. DOI: 10.3280/MACO2022-002-S1002
  12. Chapman C. S., Hopwood A. G., & Shields M. D. (Eds.) (2006). Handbook of management accounting research, Amsterdam: Elsevier.
  13. Cousins J., Sikka P. (1993). Accounting for Change Facilitating Power and Accountability, Critical Perspectives on Accounting, 4(1), pp. 53-72.
  14. CPA Canada and AICPA (2017). Blockchain Technology and Its Potential Impact on the Audit and Assurance Profession.
  15. Dai J., Vasarhelyi M.A. (2017). Toward Blockchain-Based Accounting and Assurance, Journal of Information Systems 31(3), pp. 5-21.
  16. Dal Mas F., Dicuonzo G., Massaro M., Dell’Atti V. (2020). Smart Contracts to Enable Sustainable Business Models. A Case Study, Management Decision, (8), pp. 1601-19. DOI: 10.1108/MD-09-2019-1266
  17. Dal Mas F., Massaro M., Verde J. M., Cobianchi L. (2020), Can the blockchain lead to new sustainable business models?, Journal of Business Models, 8(2), pp. 31-38.
  18. de Andrés P., Arroyo D., Correia R., Rezola A. (2022). Challenges of the Market for Initial Coin Offerings, International Review of Financial Analysis, 79.
  19. Demirhan H. (2019). Effective Taxation System by Blockchain Technology, in Hacioglu, U. (Eds.), Blockchain Economics and Financial Market Innovation. Contributions to Economics. Springer, Cham, pp. 347-360. DOI: 10.1007/978-3-030-25275-5_17
  20. Desplebin O., Lux G., Petit N. (2021). To Be or Not to Be: Blockchain and the Future of Accounting and Auditing, Accounting Perspectives 20(4), pp. 743-69. DOI: 10.1111/1911-3838.12265
  21. Dyball M., Seethamraju R. (2022). Client Use of Blockchain Technology: Exploring Its (Potential) Impact on Financial Statement Audits of Australian Accounting Firms, Accounting, Auditing and Accountability Journal, 35(7), pp. 1656-1684, DOI: 10.1108/AAAJ-07-2020-4681
  22. Edmans A. (2014). Blockholders and Corporate Governance, Annual Review of Financial Economics, 6(1), pp. 23-50.
  23. FAO (2019). E-Agriculture in Action: Blockchain for Agriculture. FAO.
  24. FAO (2021). Applying Blockchain for Climate Action in Agriculture: State of Play and Outlook. Rome: FAO and WUR.
  25. Ferri L., Spanò R., Tomo A. (2020). Cloud Computing in High Tech Startups: Evidence from a Case Study, Technology Analysis and Strategic Management, 32(2), pp. 146-157. DOI: 10.1080/09537325.2019.1641594
  26. Fiondella C., Macchioni R., Maffei M., Spanò R. (2016). Successful Changes in Management Accounting Systems: A Healthcare Case Study, Accounting Forum 40(3), pp. 186-204.
  27. Fuller S., Markelevich A. (2020). Should Accountants Care about Blockchain?, Journal of Corporate Accounting and Finance 31(2), pp. 34-46.
  28. Garanina T., Ranta M., Dumay J. (2022). Blockchain in accounting research: current trends and emerging topics, Accounting, Auditing & Accountability Journal, 35(7), pp. 1507-1533. DOI: 10.1108/AAAJ-10-2020-4991
  29. Garcia A. R., Garcia P. H. R. (2019). Cryptocurrencies: the communication inside blockchain technology and the cross-border tax law, International Journal of Blockchains and Cryptocurrencies, 1(1), pp. 22-41. DOI: 10.1504/IJBC.2019.101850
  30. Gietzmann M., Grossetti F. (2021). Blockchain and Other Distributed Ledger Technologies: Where Is the Accounting?, Journal of Accounting and Public Policy, 40(5), pp. 1-13.
  31. Haber S., Stornetta W. S. (1991). How to Time-Stamp a Digital Document, Journal of Cryptology, 3(2), pp. 99-111. DOI: 10.1007/BF00196791
  32. Holden C., Jacobsen S., Subrahmanyam A. (2014). The Empirical Analysis of Liquidity, Foundations and Trends in Finance, 8(4), pp. 263-365. DOI: 10.1561/0500000044
  33. Hyvärinen H., Risius M., Friis G. (2017). A Blockchain-Based Approach Towards Overcoming Financial Fraud in Public Sector Services, Business and Information Systems Engineering, 59(6), pp. 441-456.
  34. Iansiti, M., Lakhani K. R. (2017). The truth about blockchain, Harvard business review, 95(1), pp. 118-127.
  35. ICAEW (2018). Blockchain and the Future of Accountancy ICAEW THOUGHT LEADERSHIP IT FACULTY.
  36. Jena A. K., Dash S. P. (2021). Blockchain technology: introduction, applications, challenges, in Blockchain Technology: Applications and Challenges (pp. 1-11). Cham: Springer International Publishing.
  37. Kablan A. (2019). Accounting and Taxation of Crypto Currencies in Emerging Markets, in Hacioglu U. (Eds.) Blockchain Economics and Financial Market Innovation. Contributions to Economics (pp. 381-405) Springer, Cham. DOI: 10.1007/978-3-030-25275-5_19
  38. Kostić N., Sedej T. (2022). Blockchain technology, inter-organizational relationships, and management accounting: A synthesis and a research agenda, Accounting Horizons, 36(2), pp. 123-141. DOI: 10.2308/HORIZONS-19-147
  39. Kraus S., Schiavone F., Pluzhnikova A., Invernizzi A. (2021). Digital Transformation in Healthcare: Analyzing the Current State-of-Research, Journal of Business Research 123, pp. 557-567.
  40. Kuruppu S.C., Dissanayake D., de Villiers C. (2022). How can NGO accountability practices be improved with technologies such as blockchain and triple-entry accounting?, Accounting, Auditing & Accountability Journal, 5(7), pp. 1714-1742. DOI: 10.1108/AAAJ-10-2020-4972
  41. Lardo A., Corsi K., Varma A., Mancini D. (2022). Exploring blockchain in the accounting domain: a bibliometric analysis, Accounting, Auditing & Accountability Journal, 35(9), pp. 204-233. DOI: 10.1108/AAAJ-10-2020-4995
  42. Lombardi R., de Villiers C., Moscariello N., Pizzo, M. (2022). The disruption of blockchain in auditing–a systematic literature review and an agenda for future research, Accounting, Auditing & Accountability Journal, 35(7), pp. 1534-1565. DOI: 10.1108/AAAJ-10-2020-4992
  43. Malinova K., Park A. (2017). Market design with blockchain technology. Available at SSRN 2785626.
  44. Massaro M., Dal Mas F., Chiappetta Jabbour C. J., Bagnoli C. (2020). Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis, Corporate Social Responsibility and Environmental Management, 27(5), pp. 2150-2160.
  45. Massaro M. (2021). Digital Transformation in the Healthcare Sector through Blockchain Technology. Insights from Academic Research and Business Developments, Technovation.
  46. McAliney P.J., Ang B. (2019). Blockchain: Business’ next New ‘It’ Technology – a Comparison of Blockchain, Relational Databases, and Google Sheets, International Journal of Disclosure and Governance 16(4), pp. 163-73.
  47. Moll J., Yigitbasioglu O. (2019). The Role of Internet-Related Technologies in Shaping the Work of Accountants: New Directions for Accounting Research, British Accounting Review, 51(6).
  48. Morales J., Lambert C. (2013). Dirty Work and the Construction of Identity. An Ethnographic Study of Management Accounting Practices, Accounting, Organizations and Society 38(3), pp. 228-44.
  49. Oakley J., Worley C., Yu L., Brooks R., Skjellum A. (2018). Unmasking criminal enterprises: an analysis of Bitcoin transactions, in 13th International Conference on Malicious and Unwanted Software (MALWARE) (pp. 161-166). IEEE.
  50. Paolini A. (2022). Integrated Data Management: New Perspectives for Management Control, Management Control, 2, pp. 5-14. Doi 10.3280/MACO2022-002-S1001.
  51. Pietrzak Z., Wnuk-Pel T. (2015). The Roles and Qualities of Management Accountants in Organizations – Evidence from the Field, Procedia – Social and Behavioral Sciences, 213, pp. 281-285.
  52. Pimentel E., Boulianne E. (2020). Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities, Accounting Perspectives,19(4), pp. 325-361. DOI: 10.1111/1911-3838.12239
  53. Ramassa P., Leoni G. (2022). Standard setting in times of technological change: accounting for cryptocurrency holdings, Accounting, Auditing & Accountability Journal, 35(7), pp. 1598-1624.
  54. Rocca L., Teodori C., Veneziani M. (2020). Blockchain Impatto Sul Sistema Aziendale. Un Caso Operativo, in R. Lombardi, M. S. Chiucchi, and D. Mancini (edited by). Smart technologies, digitalizzazione e capitale intellettuale, Milano, FrancoAngeli.
  55. Roozen F., Steens B., Spoor, L. (2019). Technology- Transforming the Finance Function and the Competencies Management Accountants Need, Management Accounting Quarterly 21(1), pp. 1-14.
  56. Samkin G., Schneider A. (2021). Past, Present and Future. Intellectual Capital and the New Zeland Public Sector, in J. Dumay, J. Guthrie, and J. Rooney (edited by), The Routledge Companion to Intellectual Capital, (pp. 76-98), Routledge.
  57. Saputro V. S., Ritchi H., Handoyo S. (2021). Blockchain Disruption on Management Accountant’s Role: Systematic Literature Review, Journal of Accounting Auditing and Business, 4(1), pp. 1.
  58. Saunders M. N., Rojon C. (2011). On the attributes of a critical literature review, Coaching: An International Journal of Theory, Research and Practice, 4(2), pp. 156-162. DOI: 10.1080/17521882.2011.596485
  59. Schaefer C., Edman C. (2019). Transparent Logging with Hyperledger Fabric, in ICBC 2019 - IEEE International Conference on Blockchain and Cryptocurrency. Institute of Electrical and Electronics Engineers Inc.
  60. Schmitz J., Leoni G. (2019). Accounting and Auditing at the Time of Blockchain Technology: A Research Agenda, Australian Accounting Review, 29(2), pp. 331-42.
  61. Secinaro S., Dal Mas F., Brescia V., Calandra D. (2021). Blockchain in the accounting, auditing and accountability fields: a bibliometric and coding analysis, Accounting, Auditing & Accountability Journal, 35(9), pp. 168-203. DOI: 10.1108/AAAJ-10-2020-4987
  62. Sherman A. T., Javani F., Zhang H., Golaszewski E. (2019). On the Origins and Variations of Blockchain Technologies, IEEE Security and Privacy, 17(1), pp. 72-77. DOI: 10.1109/MSEC.2019.2893730
  63. Skwarek V. (2019). A Short History of Blockchain: Origins, Concepts and Current Developments, Informatik-Spektrum, 42(3), pp. 161-65.
  64. Sorbello P. (2021). Kazakhstan’s Power Shortages: Crypto Miners and Geopolitics, The Diplomat, November 9.
  65. Spanò R., Allini A., Caldarelli A., Zampella A. (2017). Controlling Innovation and Innovating Control: Insights from a Knowledge Intensive Network, Business Process Management Journa,l 23(6), pp. 1359-1384. DOI: 10.1108/BPMJ-02-2017-0036
  66. Spanò R., Allini A., Maffei M.., Zampella A. (2019). Knowledge, Innovation, and Control towards Accountability: A Comparative Case Study, Technology Analysis and Strategic Management, 31(6), pp. 720-731. DOI: 10.1080/09537325.2018.1545999
  67. Spanò R., Caldarelli A., Ferri L., Maffei M. (2020). Context, culture and control: a case study on accounting change in an Italian regional health service, Journal of Management and Governance, 24, pp. 229-272.
  68. Spanò R., Massaro M., Iacuzzi S. (2021). Blockchain for Value Creation in the Healthcare Sector. Technovation, 102440.
  69. Spanò R., Massaro M., Ferri L., Dumay J. Schmitz J. (2022). Blockchain in accounting, accountability and assurance: an overview, Accounting, Auditing & Accountability Journal, 35(7), pp. 1493-1506. DOI: 10.1108/AAAJ-06-2022-5850
  70. Spanò R., Zagaria C. (2022). Integrating Performance Management and Enterprise Risk Management Systems. Emerald Publishing Limited.
  71. Srivastava S. K. (2007). Green supply‐chain management: a state‐of‐the‐art literature re-view. International journal of management reviews, 9(1), pp. 53-80.
  72. Tan B.S., Low K. Y. (2019). Blockchain as the Database Engine in the Accounting System, Australian Accounting Review, 29(2), pp. 312-18.
  73. Tully S. (2022). Kazakhstan Internet Shutdown Sheds Light on a Big Bitcoin Mining Mystery, Fortune, January 6.
  74. Valentinetti D., Rea M. (2022). Blockchain e Bilancio Di Esercizio: Verso Una Convergenza Di Interessi ‘Distribuita’?, Management Control, pp. 15-40.
  75. Vigliotti M. G. (2021). What Do We Mean by Smart Contracts? Open Challenges in Smart Contracts. Frontiers in Blockchain 3.
  76. Warnez J. (2017). Revenue registration and automatic taxation for platform businesses on blockchain. Copenhagen Business School.
  77. Yermack D. (2017). Corporate Governance and Blockchains, Review of Finance 21(1), pp. 7-31.
  78. Zhang Y., Ardakani S. P., Han W. (2021). Smart Ledger: The Blockchain-Based Accounting Information Recording Protocol, Journal of Corporate Accounting and Finance, 32(4), pp. 147-57.

  • Il contributo di Management Control alla ricerca su tecnologie digitali e sostenibilità Daniela Mancini, Domenica Lavorato, Palmira Piedepalumbo, in MANAGEMENT CONTROL 2/2023 pp.5
    DOI: 10.3280/MACO2023-002001

Rosanna Spanò, Maurizio Massaro, Adele Caldarelli, Carlo Bagnoli, Blockchain implications for the accounting realm: A critique of extant studies in "MANAGEMENT CONTROL" 1/2023, pp 21-42, DOI: 10.3280/MACO2023-001002