Block Chain Technology- Will Disrupt Future Accounting?

Blockchain is a game changer in the field of accounting as it will reduce major costs in accounting. The accounting can be more automated and requirements of the accountants will decline. It will eliminate the need for reconciliations, maintain ledgers and will provide true picture of the accounting statements. It will bring more transparency that will enhance the shareholders faith in the companies and role of corporate governance will automatically strengthen. It could threaten the work of accountants where earlier loopholes were taken advantage. Therefore the focus of the paper is to study the changing role of accountants and accounting with the invention of block chain technology.