This research utilizes a single descriptive technique to analyze and compare
the perspectives of various scholars on triple-entry accounting (TEA). The rise of
blockchain technology has undoubtedly spurred discussions on the potential merits of
transitioning to TEA. While TEA itself hasn't been widely adopted, there's a growing
debate regarding the value of such alternative accounting methods. Implementing TEA
presents challenges, but exploring its potential offers significant knowledge
advancement.
Considering these factors, the study examines three emerging accounting scenarios: (i)
Robust accounting software built on double-entry accounting (DEA), (ii) the
convergence of blockchain and TEA, and (iii) the impact of disruptive technologies
beyond blockchain and TEA. Finally, the research proposes a basic design for a
hypothetical TEA information system, facilitating real-time organizational activity
comprehension. To conclude, the study establishes a trending cycle for financial
reporting technologies, empowering global organizations to select the most relevant
financial statement preparation technologies.
Keywords: Blockchain, Challenges, Double Entry Accounting, Triple Entry Accounting.
