Business & Management Studies: An International Journal

Yazarlar: Gülşah KAZAK, Namık Kemal ERDEMİR

Konular:-

Anahtar Kelimeler:Blok Zinciri,Blok ZinciriTeknolojisi,Muhasebe Bilgi Sistemi BlockChain BlockChain Technology Accounting Information System

Özet: LITERATURE The reason why the shares made in blockchain technology are different from other shares is that the sharing is done on valuable assets. In the study, firstly, brief information about the blockchain technology was given, and then the application of the blockchain in the field of accounting and its compatibility with the generally accepted accounting principles, basic concepts and accounting system was examined. As a result of the examination, the blockchain will provide appropriate, reliable, comparable information for decision-making through timely financial statements, and will automatically realize the generally accepted accounting principles due to the characteristics of the system, “Measurement in Money, Cost Basis, Impartiality and Documentation, Materiality; it has been evaluated to be fully compatible with the concepts of “Periodicity, Social Responsibility”. DESIGN AND METHOD With the use of blockchain technology in accounting applications (especially in the audit and accounting process), the job definition of the social factor changes, providing a cost advantage to companies, positively affecting the security and reliability of data, increasing the interest of companies to the subject.   Also, it is predicted that the preparation and interpretation of financial statements will be much more comfortable with the use of technology by businesses. In this study, the compatibility of blockchain technology with generally accepted accounting principles, financial statement objectives and fundamental concepts determined by the General Communiqué on Accounting System Application will be examined. In order to reveal this harmony, the results will be presented in light of researches on the infrastructure of technology, its relationship with other fields and accounting field. FINDINGS AND DISCUSSION Blockchain technology has an essential place in the accounting field as in every field. This situation can be demonstrated by the transfer of ownership of assets and keeping accurate financial information in a book. Therefore, it is stated that using BlockChain technology can provide clarity for accountants about the ownership of assets and the existence of liabilities and can significantly increase efficiency. Along with other automation trends such as machine learning, blockchain is thought to lead to more transaction-level accounting. The blockchain can eliminate reconciliations and provide certainty on transaction history, as well as allow increases in accounting coverage. It can take into account all of the more areas that are currently considered too difficult or unreliable to measure, such as the value of data a company owns (icaew.com, 2019). Technology will bring significant innovations to the accounting field in keeping accounting records. In this process, negative factors such as insufficient technology level, traditional prejudices, security gaps, occupational concerns can be eliminated, and if legislation is made, time and personnel costs are reduced. Besides, the reliability of the data will be ensured by the system for the use of stakeholders in a safe way. Along with the BlockChain, companies will achieve essential developments in the way of institutionalization. Professionals who can catch up with age will play essential roles in the process, and the quality of the accounting profession will increase. It is foreseen that the concept of audit can be done by accountants in a way that the stakeholders can use easily. With its infrastructure that can detect the error/fraud before it occurs or shortly after it occurs, blockchain will also be able to provide significant benefits in preventing errors and fraud. When the accounting recording system and the BlockChain infrastructure are made compatible, errors and fraud can be prevented. Blockchain can help identify audit claims as a result of the audit being supported with appropriate data analysis and allows the auditor to concentrate more on the audit by gaining time to consider higher-level questions (icaew.com, 2019).     CONCLUSION, RECOMMENDATION AND LIMITATIONS In light of the studies carried out, it is considered that the BlockChain technology is fully compatible with the confidentiality of accounting and the purposes of financial statements. All “Generally Accepted Accounting Principles” will be automatically applied, primarily if the process is based entirely on multi-point controls and matches. Again, the nature of the process serves the concepts of “Cost Basis, Social Responsibility, Periodicity, Impartiality and Documentation, Full Disclosure, Measurement with Money and Significance”. With this aspect, adapting technology to accounting will provide positive contributions. In addition to the fact that the process is at the stage of trial and adoption, there are cautious approaches at the point of trust. However, this situation will be accepted after the processes of strange, anxiety and reacting to change, as in all the developments we have experienced in almost a quarter of a century, and “I wonder how it used to be?” It will disappear with the question. Accountants can carry out audit processes in a way that provides financial statements that stakeholders can easily trust. When considered in the axis of artificial intelligence, the focal point of discussions about technological developments emerges as security and the issues that people will lose their jobs. However, Blockchain technology guarantees the security of accounting data from the very beginning of the process to the formation of financial statements. Moreover, the process requires the continuity of “error and fraud” control in case only the human factor is involved. However, the establishment of Blockchain technology and applications, despite the human factor, is committed to financial statements and accounting services free from error and fraud. As for the concerns about job loss, our opinion will eliminate the phases that are almost routinely accepted, especially in Turkey, even though they are seen as vocational drudgery, let alone job loss of the members of the profession involved in the process. This situation may lead to the establishment of an educational institution that will train professionals with titles such as “Accounting Engineer, Financial Engineer” who are integrated with technology. Financial Engineers will quickly move away from being individuals who are document collectors, follow the monetary transactions of the taxpayers, deal with intense professional competition, have difficulty following the legislation, and will provide services in Financial Consultancy, which is their essential business. Thus, they will have the opportunity to perform the Accounting Industry, where discussions about being a sanctuary are experienced.

---