Big Data, Blockchain and Artificial Intelligence for True Cost Accounting in the Oil and Gas Sector: Evidence from Nigeria
The identification and allocation of various costs of production stages and measure of the impacts are complex and challenging. Prior studies have advanced that he application of disruptive technologies of big data, blockchain, artificial intelligence, and cloud accounting are the new innovative true cost accounting. Consequently, this study examined the effect of big data, blockchain, artificial intelligence, and cloud accounting on true cost accounting in the oil and gas sector in Nigeria. Survey field research was adopted, using structured questionnaire administered to experts among the practicing accountants in the sector. The study obtained that application of cloud accounting ensure clear, simple, and easy estimation of true cost accounting-TCA in the oil and gas sector in Nigeria. To ensure true cost accounting accuracy, timeliness, and reduction of complexities, the used of big data, blockchain, artificial intelligence, and cloud accounting is advised in the oil and gas sector in Nigeria
Keywords: Artificial intelligence; Accuracy; Big data; Blockchain; Cloud accounting; Timeliness; True cost accounting
JEL Classification: L86, M40
