THE IMPACT OF BLOCKCHAIN TECHNOLOGY ON ACCOUNTING PRACTICES AND FINANCIAL REPORTING: OPPORTUNITIES AND CHALLENGES

Abstract

This article explores the transformative potential of blockchain technology in the field of accounting. It examines how blockchain can enhance transparency, accuracy, and security in financial reporting, while also addressing the challenges and limitations associated with its implementation. The study provides a comprehensive review of current literature, case studies of organizations that have integrated blockchain into their accounting practices, and an analysis of the future prospects for blockchain in accounting.