Research On The Application Of Block Chain Technology In Enterprise Financial System

With the development of block chain technology,the application of block chain in accounting and enterprise internal control is more and more extensive and in-depth.This paper uses block chain technology to study in the field of accounting and internal control.Firstly,Block Chain technology will change the traditional accounting methods and accounting methods.Enterprise accounting data will be more convenient and reliable,and can not be tampered with.Accounting information quality requires that it is easier to achieve under the block chain technology and not interfered by any factors.In accounting,the three-way accounting method may replace the traditional double-way accounting method,which will lead to profound changes in the organizational type,transaction mode and governance structure of enterprise management system.The three-way bookkeeping method changes data information recording from two-dimensional to three-dimensional,records data in economic business in three-dimensional,and establishes a trust system without the participation of intermediaries such as auditing.The sluggish accounts receivable will no longer exist and assets will be fully utilized.The corporate governance structure will be more scientific and perfect,improve the management efficiency of enterprises,and create greater corporate value for shareholders and employees.Block chain payment reduces reliance on central authorities by decentralization,for example,on banking institutions that issue currencies across countries.Block chain payment deals with transactions in a point-to-point manner and carries out distributed accounting.The distributed structure does not require other intermediaries to record and settle transactions.Therefore,the trade payment system based on block chain realizes the direct flat payment settlement from point to point.The current banking payment system featuring centralized liquidation will be changed.Secondly,the internal control under block chain technology will control and supervise enterprises in all directions.Under the condition of block chain technology,enterprise information management system integrates business system and accounting information system.It is a super enterprise information management system,which integrates with block chain technology,advanced management concept and governance mode.This will be conducive to the implementation of enterprise internal control system and process,and there will be no deviation in the implementation process.It will discover problems,analyze problems,and solve problems synchronized by pre-budget,forecast and in-event control,accounting,and post-event data analysis.At the same time,block chain system can find problems and remind relevant information to use at any time.They correct the deviation of data and business,and no longer have time lag.They provide convenient,fast and reliable support for enterprise decision-makers.Thirdly,the application of block chain technology in internal control self-auditing of enterprises.Distributed storage under block chain technology stores data on each shared node.It can collect data efficiently and real-time,carry out online auditing,and real-time monitor the business activities of enterprises through the Internet,and put forward suggestions for improvement.The central task of auditors will be to transform the judgment of authenticity and reliability of the original audit data into the ability of data analysis and problem-solving.The intermediate links in the audit process will be cancelled,and no accounting firms will even be required to engage in the audit.With the maturity of block chain technology,enterprises can realize self-auditing and cancel external auditing completely.Accounting firms are looking for the transformation of audit business.They will transform audit-centered business into consulting service-centered business model.Block chain technology plays a subversive role in the audit industry.Financial fraud will no longer occur.At the same time,it realizes the automation of company management.Distributed autonomous companies will subvert people’s imagination for traditional enterprises,will realize automated operation,reduce the dependence on professional and technical personnel,by setting up management system and operation rules in advance in the block chain,can realize automated independent operation.Finally,this paper finds out the countermeasures to deal with the risks in the application of block chain technology in accounting and internal control.The development of block chain technology will promote the improvement and progress of financial system.The application of block chain technology in financial system needs to be accelerated and technical standardization needs to be followed up,and the supervision of laws and regulations needs to be improved.