Artificial intelligence and the changing landscape of accounting: a viewpoint

Kommunuri, John

doi:10.1108/par-06-2021-0107

Cited by 31 publications

(24 citation statements)

References 21 publications

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“…AI can enhance accounting functions to move beyond financial reporting and compliance to detecting misstatements and irregularities using algorithms, data structures and code languages (Ding et al, 2020). Motivated by the need to understand the transformative change in accounting with the emergence of AI, Kommunuri (2022) reflected on the core role that AI-based technology plays and its usefulness in accounting. Meanwhile, the development of accounting software has contributed to a more efficient and effective working environment (Abdinnour-Helm et al, 2005).…”

Section: Impact Of Technology On the Required Skills Of Tomorrow's Ac...mentioning

confidence: 99%

Guest editorial: Accounting in transition: influence of technology, sustainability and diversity

Chong

Rahman²,

Narayan³

2022

PAR

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Section: Impact Of Technology On the Required Skills Of Tomorrow's Ac...mentioning

confidence: 99%

Guest editorial: Accounting in transition: influence of technology, sustainability and diversity

Chong

Rahman²,

Narayan³

2022

PAR

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“…The whole process of budgeting is highly dependent on the scenarios and forecasting; that is why fixing an appropriate value or balance in the right place is a challenging task. Artificial Intelligence can detect the right place for balance quickly [16]. Artificial Intelligence can quickly highlight where and when the resources will be required and based on this.…”

Section: -Literature Reviewmentioning

confidence: 99%

Improving the Efficiency of Budgeting in Industrial Enterprise: The case of Russia, Italy, and the Middle East

Majeed¹,

Косов

Fiume

et al. 2022

Emerg Sci J

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The study improved budgeting efficiency at industrial enterprises with evidence from Russia, Italy, and the Middle East. In the era of contemporary globalization and technological advancement, a budgeting system holds paramount significance in the effective management of the financial operations and activities, enhancing the overall efficiency of the firm's cash management, mitigating the risk of finance misallocation, and improving the overall financial performance of the enterprise. However, despite its effectiveness, there is a lack of evidence supporting budgeting automation and its efficiency in managing industrial enterprises. More so, limited theoretical and practical relevance is found in the context of Russia, Italy, and the Middle East. This research intended to fill the existing research gap where a qualitative research design was opted. Primary data were collected from the budgeting heads of 3 pharmaceutical firms, each located in Russia, Italy, and Iran. In-depth interviews with 3 budgeting heads identified that the conventional incremental budgeting system needed amendment and replacement with a consolidated and contemporary yet flexible approach to bring radical improvements at the macro-environment level within the industrial enterprise. The key findings led to the development of a model to improve budgeting efficiency, comprising three components: information and analytical/accounting support for budgeting, production accounting information, and a combination of the regulated operation prices. The consolidation of these three components can yield budgeting efficiency. Doi: 10.28991/ESJ-2023-07-01-013 Full Text: PDF

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“…Bavaresco et al. (2023) and Kommunuri (2022) identify the importance of understanding the technology’s limitations. In this way, the technology can be governed to reduce the risk of stated objectives not being achieved, as King IV requires.…”

Section: Introductionmentioning

confidence: 99%

“…Considering the link between achieving business objectives, technology governance and the digital technologies used, such as AI and ML, and in the context of accounting tasks, it would follow that it is necessary to understand what the ML technology should achieve and then to understand its limitations, that is, what would prevent the technology from reaching the stated objectives. Bavaresco et al (2023) and Kommunuri (2022) identify the importance of understanding the technology's limitations. In this way, the technology can be governed to reduce the risk of stated objectives not being achieved, as King IV requires.…”

Section: Introductionmentioning

confidence: 99%

Identifying the limitations associated with machine learning techniques in performing accounting tasks

Smith,

Lamprecht

2024

JFRA

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Purpose In a virtual interconnected digital space, the metaverse encompasses various virtual environments where people can interact, including engaging in business activities. Machine learning (ML) is a strategic technology that enables digital transformation to the metaverse, and it is becoming a more prevalent driver of business performance and reporting on performance. However, ML has limitations, and using the technology in business processes, such as accounting, poses a technology governance failure risk. To address this risk, decision makers and those tasked to govern these technologies must understand where the technology fits into the business process and consider its limitations to enable a governed transition to the metaverse. Using selected accounting processes, this study aims to describe the limitations that ML techniques pose to ensure the quality of financial information. Design/methodology/approach A grounded theory literature review method, consisting of five iterative stages, was used to identify the accounting tasks that ML could perform in the respective accounting processes, describe the ML techniques that could be applied to each accounting task and identify the limitations associated with the individual techniques. Findings This study finds that limitations such as data availability and training time may impact the quality of the financial information and that ML techniques and their limitations must be clearly understood when developing and implementing technology governance measures. Originality/value The study contributes to the growing literature on enterprise information and technology management and governance. In this study, the authors integrated current ML knowledge into an accounting context. As accounting is a pervasive aspect of business, the insights from this study will benefit decision makers and those tasked to govern these technologies to understand how some processes are more likely to be affected by certain limitations and how this may impact the accounting objectives. It will also benefit those users hoping to exploit the advantages of ML in their accounting processes while understanding the specific technology limitations on an accounting task level.

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Artificial intelligence and the changing landscape of accounting: a viewpoint

Cited by 31 publications

References 21 publications

Guest editorial: Accounting in transition: influence of technology, sustainability and diversity

Guest editorial: Accounting in transition: influence of technology, sustainability and diversity

Improving the Efficiency of Budgeting in Industrial Enterprise: The case of Russia, Italy, and the Middle East

Identifying the limitations associated with machine learning techniques in performing accounting tasks

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