IRMA-International.org: Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Virtual Worlds and the Implication for Accountants: The Case of Second Life

Virtual Worlds and the Implication for Accountants: The Case of Second Life
View Sample PDF
Author(s): Jorge A. Romero (Towson University, USA)
Copyright: 2009
Volume: 1
Issue: 3
Pages: 6
Source title: International Journal of Agent Technologies and Systems (IJATS)
DOI: 10.4018/jats.2009070103

Purchase

View Virtual Worlds and the Implication for Accountants: The Case of Second Life on the publisher's website for pricing and purchasing information.

Abstract

While real world economies may be shaky, economies in virtual worlds keep growing as sites such as Second Life become more and more mainstream. Research firm Gartner Media estimates that by 2011, 80% of Internet users worldwide will be using Second Life (Gartner, 2007). This growing popularity has real world financial implications. On a typical day, Second Life members spend close to $1.5 million on virtual items and virtual real estate transactions (Alter, 2008), and some residents generate six-figure incomes in real world dollars (Hemp, 2006).Second Life is still in an early stage of development, and there are many financial and legal regulatory issues to be resolved. But with these challenges come opportunities; Second Life may be the impetus for a new accounting platform that may bring different practices together and provide new growth opportunities that financial communities have been looking for in the virtual world.

Related Content

Pinki Sharma, Jyotsna Sengupta, P. K. Suri. © 2019. 17 pages.
Sukhdev Singh, Chander Kant. © 2019. 7 pages.
Sahil Chhabra, Neeraj Kumar Jain, Vipin Tomar. © 2019. 9 pages.
Alankrita Aggarwal, Deepak Chatha. © 2019. 10 pages.
Smiley Gupta, Jagtar Singh. © 2019. 10 pages.
Meenakshi Sharma, Sonia Thind. © 2019. 10 pages.
Jimmy Singla. © 2019. 9 pages.
Body Bottom