Application of Blockchain Technology in the Field of Accounting Supervision

Abstract

Accounting supervision, one of the most basic functions of accounting, plays an extremely important role in accounting subject. As a new term in the field of information technology, blockchain technology has been continuously developed and improved in recent years, and it has gradually become a social focus. This paper introduces that blockchain can supervise accounting more effectively with its characteristics of openness, transparency, de credit, tamper proof and timing. Accounting supervision is a guarantee system to improve the quality of accounting information, but in recent years, due to the weakening of the ability of accounting supervision, financial fraud occurs from time to time. Because accounting supervision is not enough, accounting information is distorted and capital market is confused. Therefore, this paper analyzes the application of new information technology combined with accounting supervision, the reasons for weakening and the solutions.