Consideration of Blockchain Web3.0 and Commodity Trading Transaction Records

Abstract

Teaching profit calculation is important for bookkeeping education. In particular, it is important for beginning bookkeepers to learn profit calculation through journal entries during the period. In the past, the trichotomy method has been widely used in bookkeeping education and practice because of the complexity of profit calculation. However, in today’s era of rapid change, there is a need for business management to calculate profits in real time using journal entries during the period. Technologies such as blockchain Web3.0 can eliminate the complexity of real-time profit calculation. Now is the time for bookkeeping education and practice to be revised to comply with the acquisition cost basis of accounting, which is a rigid and robust record.