The 21st century technological transformations have a profound impact on businesses, and adapting to digital technologies is vital for the sustainability and success of businesses. In this transformation, the rise of Metaverse technology has brought innovations in accounting processes. With the increase in the commercial activities of businesses on Metaverse platforms, the digitalization of accounting processes has become inevitable. Accounting for transactions carried out on Metaverse platforms, providing digital accounting trainings and establishing virtual accounting offices are important parts of this transformation. The purpose of this study is to address the effects of the rapidly developing Metaverse technology on accounting in a theoretical framework. By examining the relationship between Metaverse technology and accounting, the study provides a perspective on how some of the commercial activities that businesses can perform through the Metaverse will be reflected in their accounting records. This study sheds light to researchers and accounting professionals on the possible effects of the Metaverse on accounting and contributes to future research in this field.