IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v17y2024i8p372-d1459191.html
   My bibliography  Save this article

Integrating Blockchain, IoT, and XBRL in Accounting Information Systems: A Systematic Literature Review

Author

Listed:
  • Mohamed Nofel

    (Faculty of Commerce, Kafrelsheikh University, Kafrelsheikh 33516, Egypt
    School of Business, University of Leicester, Leicester LE1 7RH, UK)

  • Mahmoud Marzouk

    (School of Business, University of Leicester, Leicester LE1 7RH, UK
    Faculty of Commerce, Menoufia University, Shebin El-Kom 32511, Egypt)

  • Hany Elbardan

    (Business School, Bournemouth University, Bournemouth BH12 5BB, UK
    Faculty of Commerce, Alexandria University, Alexandria 21526, Egypt)

  • Reda Saleh

    (Faculty of Commerce, Kafrelsheikh University, Kafrelsheikh 33516, Egypt)

  • Aly Mogahed

    (Faculty of Commerce, Kafrelsheikh University, Kafrelsheikh 33516, Egypt)

Abstract

Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic literature review on using the Internet of Things (IoT), blockchain, and eXtensible Business Reporting Language (XBRL) in a single accounting information system (AIS) to enhance the quality of digital financial reports. This paper employs a systematic literature review (SLR) methodology, specifically, by adopting the widely accepted PRISMA technique. The final sample of this study included 309 related studies from 2013 to 2023. Our findings highlight the lack of literature related to the integration of these three types of technologies within a unified AIS. This study is extremely significant because it proposes a new research stream that explores the possibility of integrating IoT, blockchain, and XBRL in a single accounting system, yielding a plethora of benefits to the accounting field. However, the potential benefits of such an integration are evident, including enhanced transparency, real-time reporting capabilities, and improved data security. Our paper’s main contribution is that it is the first paper, to the best of our knowledge, to explore the integration of these three technologies. We also identified important gaps in the research and pointed out ways for future research to somehow take a lead in exploring further how this integrated system is affecting accounting practices.

Suggested Citation

  • Mohamed Nofel & Mahmoud Marzouk & Hany Elbardan & Reda Saleh & Aly Mogahed, 2024. "Integrating Blockchain, IoT, and XBRL in Accounting Information Systems: A Systematic Literature Review," JRFM, MDPI, vol. 17(8), pages 1-32, August.
    • Handle: RePEc:gam:jjrfmx:v:17:y:2024:i:8:p:372-:d:1459191
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/17/8/372/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/17/8/372/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Simone Pizzi & Andrea Caputo & Andrea Venturelli & Fabio Caputo, 2022. "Embedding and managing blockchain in sustainability reporting: a practical framework," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 13(3), pages 545-567, February.
    2. Xiongyuan Wang & Luofan Bu & Xuan Peng, 2021. "Internet of things adoption, earnings management, and resource allocation efficiency," China Journal of Accounting Studies, Taylor & Francis Journals, vol. 9(3), pages 333-359, July.
    3. Mainelli, Michael & Smith, Mike, 2015. "Sharing ledgers for sharing economies: an exploration of mutual distributed ledgers (aka blockchain technology)," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 38-58.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paul Rimba & An Binh Tran & Ingo Weber & Mark Staples & Alexander Ponomarev & Xiwei Xu, 2020. "Quantifying the Cost of Distrust: Comparing Blockchain and Cloud Services for Business Process Execution," Information Systems Frontiers, Springer, vol. 22(2), pages 489-507, April.
    2. Jiang, Rong & Kang, Yuanjie & Liu, Yongsong & Liang, Zhihong & Duan, Yunlong & Sun, Yani & Liu, Jialan, 2022. "A trust transitivity model of small and medium-sized manufacturing enterprises under blockchain-based supply chain finance," International Journal of Production Economics, Elsevier, vol. 247(C).
    3. Simone Pizzi & Giovanni Mastroleo & Andrea Venturelli & Fabio Caputo, 2024. "The digitalization of sustainability reporting processes: A conceptual framework," Business Strategy and the Environment, Wiley Blackwell, vol. 33(2), pages 1040-1050, February.
    4. Monika Mačiulienė & Aelita Skaržauskienė, 2021. "Conceptualizing blockchain‐based value co‐creation: A service science perspective," Systems Research and Behavioral Science, Wiley Blackwell, vol. 38(3), pages 330-341, May.
    5. Wallbach, Sören & Lehner, Roland & Röthke, Konstantin & Elbert, Ralf & Benlian, Alexander, 2020. "Trust-Building Effects of Blockchain Features – An Empirical Analysis of Immutability, Traceability and Anonymity," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 120705, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    6. Akter, Mohsina & Kummer, Tyge-F. & Yigitbasioglu, Ogan, 2024. "Looking beyond the hype: The challenges of blockchain adoption in accounting," International Journal of Accounting Information Systems, Elsevier, vol. 53(C).
    7. Chagas, B.T. & Jesus, D. & Palma-dos-Reis, A., 2024. "Blockchain's value proposition for online gambling: The operators' perspective," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    8. Isabela Neto Piccirillo & Daniel Capaldo Amaral & Maicon Gouvêa De Oliveira, 2022. "A Research Agenda for Collaborative Roadmapping Supported by Blockchain Technology," Sustainability, MDPI, vol. 14(20), pages 1-16, October.
    9. Ibrahim Bassam Zubaidi & Adam Abdullah, 2017. "Developing a Digital Currency from an Islamic Perspective: Case of Blockchain Technology," International Business Research, Canadian Center of Science and Education, vol. 10(11), pages 79-87, November.
    10. Min Xu & Xingtong Chen & Gang Kou, 2019. "A systematic review of blockchain," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 5(1), pages 1-14, December.
    11. de Reuver, Mark & Sørensen, Carsten & Basole, Rahul C., 2018. "The digital platform: a research agenda," LSE Research Online Documents on Economics 80669, London School of Economics and Political Science, LSE Library.
    12. Centobelli, Piera & Cerchione, Roberto & Esposito, Emilio & Oropallo, Eugenio, 2021. "Surfing blockchain wave, or drowning? Shaping the future of distributed ledgers and decentralized technologies," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    13. Marten Risius & Kai Spohrer, 2017. "A Blockchain Research Framework," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 59(6), pages 385-409, December.
    14. Mengelkamp, Esther & Gärttner, Johannes & Rock, Kerstin & Kessler, Scott & Orsini, Lawrence & Weinhardt, Christof, 2018. "Designing microgrid energy markets," Applied Energy, Elsevier, vol. 210(C), pages 870-880.
    15. Lehner, Roland, 2023. "Cross-Supply Chain Collaboration Platform for Pallet Management," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 138753, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    16. Wallbach, Sören, 2020. "Assimilation and Diffusion of Multi-Sided Platforms in Dynamic B2B Networks: Inhibiting Factors and Their Consequences," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 123277, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    17. Min, Hokey, 2019. "Blockchain technology for enhancing supply chain resilience," Business Horizons, Elsevier, vol. 62(1), pages 35-45.
    18. Jiang, Mengqi & Jia, Fu & Chen, Lujie & Xing, Xinjie, 2024. "Technology adoption in socially sustainable supply chain management: Towards an integrated conceptual framework," Technological Forecasting and Social Change, Elsevier, vol. 206(C).
    19. Esther Ortiz & Salvador Marín & Paul Thompson, 2024. "The role of small- and medium-sized practices in the sustainable transition of SMEs," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(8), pages 19299-19323, August.
    20. Jennifer J. Xu, 2016. "Are blockchains immune to all malicious attacks?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-9, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:17:y:2024:i:8:p:372-:d:1459191. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.