IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 7 2024
DOI: 10.56201/jafm.v10.no7.2024.pg90.110

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Blockchain Technology and Accounting Practice in Nigeria

Dr. Adebimpe Umoren, Gabriel Ukpeh and Affiong Imaikop Ewang

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Abstract

The implementation of Blockchain technology in Nigerian Accounting Practices has significantly impacted accounting in recent years. The specific goal of this study was to evaluate how Blockchain technology might affect Nigerian accounting methods' efficacy. The study aims to evaluate the impact of integrating Blockchain technology on accounting practices in Nigeria. The core data for this study, which took a qualitative approach, came from a structured questionnaire sent to the intended respondents, including finance analysts, accountants, and Blockchain specialists employed as professional accountants in accounting firms. The sample size was determined by giving professional accountants 100 copies of the questionnaire, of which 86 were returned. Both descriptive and inferential statistics were used to analyze the data. According to the overall findings, Blockchain technology significantly improved Nigerian Accounting Practices. As a result, this study suggests that accounting businesses in Nigeria should consider utilizing Blockchain technology to increase efficiency, transparency, and data security.

keywords:

Blockchain technology, Accounting Practice, Data Transmission,

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