Blockchain Technology in Managerial Accounting: Transforming Cost Management Strategies

Authors

  • Manvinder Brar

    Centre of Research Impact and Outcome, Chitkara University, Rajpura, Punjab, India

  • Kanika Seth

    Chitkara Centre for Research and Development, Chitkara University, Himachal Pradesh, India

  • Smita Mishra

    Professor, Business Management, Maharishi University of Information Technology, Uttar Pradesh, India

  • Dr. Sweta Kumari

    Assistant Professor, ISME, ATLAS SkillTech University, Mumbai, India

  • Dr. Preeti Y Shadangi

    Assistant Professor, Department of Management, Siksha 'O' Anusandhan (Deemed to be University) , Bhubaneswar, Odisha, India

  • Dr.T. Sheeba

    Assistant Professor, Master of Business Administration, Sathyabama Institute of Science and Technology, Chennai, Tamil Nadu, India

  • P.S. Raghavendra Rao

    Assistant Professor, Department of Mechanical Engineering, Faculty of Engineering and Technology, JAIN (Deemed-to-be University), Ramanagara District, Karnataka, India

How to Cite

Brar, M. ., Seth , K. ., Mishra , S. ., Kumari, D. S. . ., Shadangi , D. P. Y. ., Sheeba, D. ., & Rao, P. R. . . (2025). Blockchain Technology in Managerial Accounting: Transforming Cost Management Strategies. International Journal of Accounting and Economics Studies, 12(SI-1), 23-27. https://doi.org/10.14419/qqhsqe66

Received date: May 15, 2025

Accepted date: May 31, 2025

Published date: August 28, 2025

DOI:

https://doi.org/10.14419/qqhsqe66

Keywords:

Blockchain Technology; Managerial Accounting; Management Strategies; Commerce; Business; Thematic Analysis

Abstract

Accounting is the study of recording, categorizing, summarizing, and interpreting financial data regarding an organization's operations to make informed decisions about the organization. The information required to meet management goals is built on processes, which include information collection, measurement, storage, analysis, reporting, and management. Additionally, manufacturing, commerce, service, and nonprofit companies also use this kind of information; therefore, its demand is not just restricted to industrial organizations. Using a mixed-methods research approach, primary data is collected through surveys and interviews with finance professionals, blockchain experts, and business executives, while secondary data is analyzed from industry reports and financial statements of companies implementing blockchain. The study includes organizations across industries such as manufacturing, retail, and logistics that utilize blockchain for cost optimization. Key inclusion criteria focus on firms actively using blockchain in accounting, while businesses without blockchain adoption and outdated studies are excluded. Findings are analyzed using qualitative thematic analysis and quantitative statistical methods to assess cost reduction and efficiency improvements. This research highlights blockchain’s role in reshaping managerial accounting and provides insights into its challenges, such as regulatory concerns and technological adoption barriers. The study contributes to the evolving discussion on digital transformation in financial management, offering recommendations for businesses seeking to leverage blockchain for cost efficiency and strategic decision-making.

References

  1. Baggyalakshmi, N., Kanishka, J., &Revathi, R. (2024). Stationery management system. International Academic Journal of Innovative Research, 11(1), 39–50. https://doi.org/10.9756/IAJIR/V11I1/IAJIR1105
  2. Deihim, J., Sadeghi, T., &Rezaei, S. (2014). Role of information technology and information systems in the process of improving the quality of ed-ucation manager’s decisions. International Academic Journal of Organizational Behavior and Human Resource Management, 1(1), 54–70.
  3. Rahman, F. (2024). Edge-aware federated learning-based channel equalization for robust communication in 6G-enabled IoT networks. Electronics, Communications, and Computing Summit, 2(4), 52–58.
  4. Demirkan, S., Demirkan, I., & McKee, A. (2020). Blockchain technology in the future of business cyber security and accounting. Journal of Man-agement Analytics, 7(2), 189–208.
  5. Faccia, A., &Mosteanu, N. R. (2019). Accounting and blockchain technology: From double-entry to triple-entry. The Business & Management Re-view, 10(2), 108–116.
  6. Poornimadarshini, S. (2025). Cyberfeminism 4.0: The role of social media and digital platforms in shaping contemporary feminist activism. Journal of Women, Innovation, and Technological Empowerment, 1(1), 25–30.
  7. Hamed, A. S. E., Elbakry, H. M., Riad, A. E., &Moawad, R. (2023). Proposed technical debt management approach applied on software projects in Egypt. Journal of Internet Services and Information Security, 13(3), 156–177. https://doi.org/10.58346/JISIS.2023.I3.010
  8. Han, H., Shiwakoti, R. K., Jarvis, R., Mordi, C., &Botchie, D. (2023). Accounting and auditing with blockchain technology and artificial intelli-gence: A literature review. International Journal of Accounting Information Systems, 48, 100598.
  9. Madhanraj. (2025). Predicting nonlinear viscoelastic response of stimuli-responsive polymers using a machine learning-based constitutive model. Advances in Mechanical Engineering and Applications, 1(1), 41–49.
  10. Janmohammadi, P., &Babazade, M. (2015). Resource management in cloud computing using a method based on ant colony optimization. Interna-tional Academic Journal of Science and Engineering, 2(1), 186–200.
  11. Jung, S. W. (2022). Universal redactableblockchain. Journal of Wireless Mobile Networks, Ubiquitous Computing, and Dependable Applications, 13(4), 81–93. https://doi.org/10.58346/JOWUA.2022.I4.005
  12. Uvarajan, K. P. (2025). Integrating adapted yoga into sports-based occupational therapy for children with autism. Journal of Yoga, Sports, and Health Sciences, 1(1), 31–38.
  13. Movahedi, A., &Mirzahoseini, H. (2016). Anger Management Skills Training: A Suitable Strategy to Improve Women’s General Health.International Academic Journal of Social Sciences, 3(2), 113–123.
  14. Park, A., & Li, H. (2021). The effect of blockchain technology on supply chain sustainability performances. Sustainability, 13(4), 1726.
  15. Schmitz, J., &Leoni, G. (2019). Accounting and auditing at the time of blockchain technology: A research agenda. Australian Accounting Review, 29(2), 331–342.
  16. Poornimadarshini, S. (2024). Comparative techno-economic assessment of hybrid renewable microgrids in urban net-zero models. Journal of Smart Infrastructure and Environmental Sustainability, 1(1), 44–51.
  17. Sharma, P. (2024). The transformative role of blockchain technology in management accounting and auditing: A strategic and empirical analysis.
  18. Sokcevic, S., Volarevic, H., &Milenkovič, R. (2024). Implementation of blockchain technology in managerial accounting. In Economic and Social Development: Book of Proceedings (pp. 167–178).
  19. Tharinie, V., &Pandiyaraj. (2016). Ant colony optimization-based latency conscious routing protocol (ACO-LCRP) for wireless sensor network. International Journal of Advances in Engineering and Emerging Technology, 7(1), 191–199.
  20. Nymana, F. G., & Usun, S. (2025). Cross-cultural neurocognitive profiling of food cue reactivity using EEG and AI: Toward personalized interven-tions for maladaptive eating. Advances in Cognitive and Neural Studies, 1(1), 39–48.
  21. Yaga, D., Mell, P., Roby, N., &Scarfone, K. (2019). Blockchain technology overview. arXiv preprint arXiv:1906.11078.
  22. Yli-Huumo, J., Ko, D., Choi, S., Park, S., &Smolander, K. (2016). Where is current research on blockchain technology? — A systematic review. PLOS ONE, 11(10), e0163477.https://doi.org/10.1371/journal.pone.0163477
  23. Patel, P., & Dusi, P. (2025). Optimization models for sustainable energy management: A multidisciplinary approach. Bridge: Journal of Multidisci-plinary Explorations, 1(1), 1–10.
  24. Zheng, Z., Xie, S., Dai, H., Chen, X., & Wang, H. (2017). An overview of blockchain technology: Architecture, consensus, and future trends. In 2017 IEEE International Congress on Big Data (BigData Congress) (pp. 557–564). IEEE.

Downloads

How to Cite

Brar, M. ., Seth , K. ., Mishra , S. ., Kumari, D. S. . ., Shadangi , D. P. Y. ., Sheeba, D. ., & Rao, P. R. . . (2025). Blockchain Technology in Managerial Accounting: Transforming Cost Management Strategies. International Journal of Accounting and Economics Studies, 12(SI-1), 23-27. https://doi.org/10.14419/qqhsqe66

Received date: May 15, 2025

Accepted date: May 31, 2025

Published date: August 28, 2025