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Demistifying of Triple-Entry Accounting (TEA): Integrating the Block

In: Proceedings of the Ninth Padang International Conference on Economics Education, Economics, Business and Management, Accounting and Entrepreneurship (PICEEBA 2022)

Author

Listed:
  • Mia Ika Rahmawati

    (Brawijaya University, Accounting Department, Economics and Business Faculty
    Indonesia School of Economics (STIESIA) Surabaya, Accounting Department)

  • Eko Ganis Sukoharsono

    (Brawijaya University, Accounting Department, Economics and Business Faculty)

  • Aulia Fuad Rahman

    (Brawijaya University, Accounting Department, Economics and Business Faculty)

  • Yeney Widya Prihatiningtias

    (Brawijaya University, Accounting Department, Economics and Business Faculty)

Abstract

Current accounting system has been used for more than six decades, yet emerging technology like blockchain is arising to improve a new accounting method: triple-entry accounting. This study aims to construct a potential framework of triple-entry accounting embedded with smart contract. The research method of this study is qualitative with a study case. The result of this study is a triple-entry accounting with a smart contract framework. The blockchain (smart contract) ecosystem, the business parties will only need to record an internal entry, and the opponent entry will be stored in a desentrilized ledger. Auditor will give permission access to the blockchain ledger to perform an audit. Triple-entry accounting with the smart contract will improve transparency and trust as well as decrease audit cost significantly.

Suggested Citation

  • Mia Ika Rahmawati & Eko Ganis Sukoharsono & Aulia Fuad Rahman & Yeney Widya Prihatiningtias, 2023. "Demistifying of Triple-Entry Accounting (TEA): Integrating the Block," Advances in Economics, Business and Management Research, in: Perengki Susanto & Dian Fitria Handayani & Jean Elikal Marna & Yollit Permata Sari & Rizki Sri Lasmi (ed.), Proceedings of the Ninth Padang International Conference on Economics Education, Economics, Business and Management, Accounting and Entrepreneurship (, pages 23-31, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-158-6_3
    DOI: 10.2991/978-94-6463-158-6_3
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