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Management Accounting Practices in the 4th Industrial Revolution:  Potential Benefits and Challenges of Blockchain Technology

The fourth (4th) Industrial Revolution (4IR) is transforming the business landscape, necessitating the evolution of management accounting practices. Blockchain technology, a key driver of the 4IR, offers immense potential for management accounting, enabling secure, transparent, decentralized financial transactions and data management. This is because the traditional management accounting appears to be insufficient in providing organization need, especially in this age. This study explores the potentials benefits, and challenges of blockchain-enabled management accounting practices in the 4IR era .The benefits of Blockchain-enabled management accounting practices include enhanced transparency, integrity, security, tamper-proof, real-time monitory efficiency,  improved decision-making and financial reporting made-easy, as well as eliminating  relevance  of intermediaries. However, challenges such as scalability issues, regulatory uncertainty, and skills gaps must be addressed to fully realize the potentials of blockchain technology. This study contributes to the existing literature on blockchain in management accounting, providing insights for practitioners, researchers, and policymakers seeking to leverage the benefits of blockchain technology in the 4IR era.

Keywords: Blockchain, Management Accounting, Tamper-proof, Decentralized ledger.