Adopting Blockchain Technology to Improve Financial Reporting by Using the Technology Acceptance Model (TAM)

Document Type : Original Article

Authors

1 Ph.D. Student, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran

2 Professor, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran

3 Associate Professor, Department of Industrial Management, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran

4 Associate Professor, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran

5 Assistant Professor, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran

Abstract

Considering the capabilities of Blockchain technology, the present study examines the important issue of acceptance of this technology by the producers and users of financial reporting. First, the study has reviewed the available theoretical and experimental foundations and according to technology acceptance model (TAM, henceforth) has presented a theoretical model and extracted the factors affecting the acceptance of this technology in financial reporting. Then, by adopting a qualitative method and analyzing the content of 11 semi-structured interviews, the initial theoretical model is modified and the factors affecting this technique have identified in financial reporting. Finally, by collecting and analyzing 35 questionnaires by applying fuzzy Delphi method, the final model has been given and the view of the preparation and users of financial reporting regarding the acceptance of this technology have been evaluated. Financial reporting embraces blockchain technology, and the main reason for the adoption of this new technology is the perceived usefulness as a result of the positive impact on the qualitative characteristics of information. This scientific research helps to better understand the factors involved in the adoption of new techniques by financial reporting developers and their impact on the current intention and application of the system in the field of financial reporting.

Keywords

References

  • Abouhamzeh, M., & Soleimani, A. G. R. (2019). Extensible Business Reporting Language (XBRL): The View of Iranian National Tax Administration Employees.
  • ALSaqa, Z. H., Hussein, A. I., & Mahmood, S. M. (2019). The Impact of Blockchain on Accounting Information Systems. Journal of Information Technology Management, 11(3), 62-80.
  • Al-Jaroodi, J., & Mohamed, N. (2019). Blockchain in industries: A survey. IEEE Access, 7,
  • 36500–36515.
  • Andersen, N. (2016). Block chain technology: A game changer in accounting. Deloitte, March.
  • Arab Mazar Yazdi, M; Hassani Azar Dariani, E. (1385). "Security in XML-Based Financial Reporting Services on the Internet", Accountant Journal, No. 178, pp. 64-73
  • Bagherian Kasgari, A, (2007). "Electronic Exchange, Standards and Intelligent Regulatory Networks", Exchange Monthly, No. 61, pp. 61 – 40.
  • Bonsón, E., & Bednárová, M. (2019). Blockchain and its implications for accounting and auditing. Meditari Accountancy Research.
  • Bozorg Asl, Musa et al., (2006), "Introduction to the Concepts and Applications of Expandable Business Reporting", Official Accountant Quarterly, Third Year, No. 8 and 9, pp. 83-90.
  • Brandon, D. (2016). The blockchain: The future of business information systems? International
  • Journal of the Academic Business World, 10(2), 33–40..
  • Buterin, V. (2014), “Ethereum white paper: a next-generation smart contract and decentralized application platform”,
  • Byström, H. (2019). Blockchains, real-time accounting, and the future of credit risk modeling. Ledger,4.
  • Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). Blockchain technology: Beyond bitcoin. Applied Innovation, 2(6-10), 71.
  • Dai, J., He, N., & Yu, H. (2019). Utilizing Blockchain and Smart Contracts to Enable Audit 4.0: From the Perspective of Accountability Audit of Air Pollution Control in China. Journal of Emerging Technologies in Accounting, 16(2), 23-41.
  • Dai, J. and Vasarhelyi, M.A. (2017), “Toward Blockchain-Based accounting and assurance”, Journal of Information Systems, Vol. 31 No. 3, pp. 5-21.
  • Demirkan, S., Demirkan, I., & McKee, A. (2020). Blockchain technology in the future of business cybersecurity and accounting. Journal of Management Analytics, 7(2), 189-208
  • (2017). The “Big Four” audit firms and their contribution to blockchain technology Newsbtc.
  • Helo, P., & Hao, Y. (2019). Blockchains in operations and supply chains: A model and reference implementation. Computers & Industrial Engineering, 136, 242-251.
  • Jaeger, P.T.; “The endless wire: E-government as global phenomenon”, Government Information Quarterly, No. 20, pp. 331-323, 2003
  • Kokina, J., Mancha, R., & Pachamanova, D. (2017). Blockchain: Emergent industry adoption and implications for accounting. Journal of Emerging Technologies in Accounting, 14(2), 91-100.
  • Kwilinski, A. (2019). Implementation of blockchain technology in accounting sphere. Academy of Accounting and Financial Studies Journal, 23, 1-6.
  • Liu, M., Wu, K., & Xu, J. J. (2019). How Will Blockchain Technology Impact Auditing and Accounting: Permissionless versus Permissioned Blockchain. Current Issues in Auditing, 13(2), A19-A29
  • Lu, P. J., Yeh, L. Y., & Huang, J. L. (2018, May). An privacy-preserving cross-organizational authentication/authorization/accounting system using blockchain technology. In 2018 IEEE International Conference on Communications (ICC) (pp. 1-6). IEEE
  • Lu, Y. (2018a). Blockchain and the related issues: A review of current research topics. Journal of Management Analytics, 5(4), 231–255.
  • Nobakht, Y., Nobakht, M. (2020). Study of the Knowledge and Content Flows of the Articles of Two Quarterly Journal of Accounting Advances from the Beginning of the Publication to the End of 2018. Knowledge Studies, 6(23), 19-36. doi: 10.22054/jks.2020.48221.1259 .
  • Orcutt, M. (2018). How secure is blockchain really. MIT Technology Review, 40.‏
  • Perera, S., Nanayakkara, S., Rodrigo, M. N. N., Senaratne, S., & Weinand, R. (2020). Blockchain technology: Is it hype or real in the construction industry? Journal of Industrial Information Integration, 17, Article 100125.
  • Piscini, E. D. D. (2017). Blockchain & cybersecurity
  • Rosic, A. (2019, November 15).What is blockchain technology? A step-by-step guide for beginners. Blockgeeks.
  • Rozario, A. M., & Thomas, C. (2019). Reengineering the audit with blockchain and smart contracts. Journal of Emerging Technologies in Accounting, 16(1), 21-35.
  • Sebahattin Demirkan, Irem Demirkan & Andrew McKee (2020): Blockchain technology in the future of business cybersecurity and accounting, Journal of Management
  • Shafiee, M. (2014). Technology Development in Conceptual Age: Definitions, Concepts, and Requirements. , 12(23), 1-10.
  • Schmitz, J., & Leoni, G. (2019). Accounting and auditing at the time of blockchain technology: a research agenda. Australian Accounting Review, 29(2), 331-342.
  • Sheldon, M. D. (2019). A primer for information technology general control considerations on a private and permissioned blockchain audit. Current Issues in Auditing, 13(1), A15-A29.
  • Tan, B. S., & Low, K. Y. (2019). Blockchain as the database engine in the accounting system. Australian Accounting Review, 29(2), 312-318.
  • Turker, I., & Bicer, A. A. (2020). How to Use Blockchain Effectively in Auditing and Assurance Services. In Digital Business Strategies in Blockchain Ecosystems (pp. 457-471). Springer, Cham
  • Tung, K. (2019). AI, the internet of legal things, and lawyers. Journal of Management Analytics,
  • 6(4), 390–403.
  • Watson, L. A., & Mishler, C. (2017). Get ready for blockchain: Should management accountants add blockchain technology to their professional vocabulary? Strategic Finance, 98(7), 62–64.
  • Walch, A. (2016). The bitcoin blockchain as financial market infrastructure: A consideration of operational risk. 18 NYU Journal of Legislation and Public Policy 837.
  • Wu, J., Xiong, F., & Li, C. (2019). Application of Internet of Things and Blockchain Technologies to Improve Accounting Information Quality. IEEE Access, 7, 100090-100098.
  • Yu, T., Lin, Z., & Tang, Q. (2018). Blockchain: The introduction and its application in financial accounting. Journal of Corporate Accounting & Finance, 29(4), 37-47.

Files

Share

How to cite

Statistics