International Comparative Management Accounting

Bhimani, Alnoor

doi:10.1002/9781118785317.weom010052

Cited by 2 publications

(2 citation statements)

References 13 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…As the accounting landscape evolves, the integration of automation emerges as a transformative force, reshaping the way financial tasks are executed (Bhimani, 2021). Automation, driven by technological advancements, is poised to revolutionize the accounting profession by streamlining routine tasks, redefining traditional bookkeeping processes, and harnessing the capabilities of Robotic Process Automation (RPA) to enhance overall efficiency.…”

Section: Automation In Accountingmentioning

confidence: 99%

The future of accounting: Predictions on automation and AI integration

Adeola Olusola Ajayi-Nifise,

Olubusola Odeyemi,

Noluthando Zamanjomane Mhlongo

et al. 2023

World J. Adv. Res. Rev.

View full text Add to dashboard Cite

As we stand on the brink of a transformative era, the future of accounting is intricately linked with the rapid evolution of automation and artificial intelligence (AI). This review delves into predictions regarding the integration of these technologies into the accounting landscape. The impending future is characterized by the increasing reliance on automation to streamline routine tasks, enhance efficiency, and mitigate the risk of errors in accounting processes. Automation is poised to revolutionize traditional bookkeeping, data entry, and reconciliation, allowing accountants to redirect their focus towards higher-value analytical tasks. The integration of robotic process automation (RPA) is anticipated to facilitate seamless collaboration between human expertise and machine precision. In parallel, artificial intelligence is set to become a cornerstone of accounting practices, offering advanced capabilities for data analysis, pattern recognition, and predictive modeling. AI's ability to interpret complex financial data and discern meaningful insights positions it as a valuable tool for decision support. Predictive analytics powered by AI is expected to revolutionize forecasting, enabling accountants to make strategic decisions based on data-driven foresight. Furthermore, the rise of AI-driven chatbots and virtual assistants is predicted to redefine client interactions and support services. These technologies are anticipated to enhance customer experience by providing instant responses to queries, facilitating smoother communication, and offering personalized financial guidance. However, the integration of automation and AI in accounting raises important considerations. Ethical concerns, data security, and the potential displacement of certain job functions are pivotal aspects that demand careful examination. Striking a balance between technological advancements and preserving ethical standards will be a critical challenge in the future accounting landscape. In conclusion, the future of accounting is shaped by the convergence of automation and AI, promising a paradigm shift in how financial information is processed, analyzed, and utilized. While automation and AI bring forth unprecedented opportunities for efficiency and insight, their implementation necessitates a thoughtful approach to ensure ethical conduct and address the evolving role of accountants in this transformative journey.

show abstract

Section: Automation In Accountingmentioning

confidence: 99%

The future of accounting: Predictions on automation and AI integration

Adeola Olusola Ajayi-Nifise,

Olubusola Odeyemi,

Noluthando Zamanjomane Mhlongo

et al. 2023

World J. Adv. Res. Rev.

View full text Add to dashboard Cite

show abstract

“…Blockchain's distributed ledger technology provides a transparent and irreversible record of financial transactions, reducing the need for middlemen and enhancing the security and accuracy of financial reporting. Additionally, by automating routine accounting tasks with AI-powered tools like machine learning and natural language processing, accountants are now free to focus on more intricate analysis and decision-making [1]. Fuzzy logic and neural networks have significantly improved AI's capabilities by enabling complicated data analysis and identification of patterns.…”

Section: Introductionmentioning

confidence: 99%

Ethical considerations in the Era of Digitalization: A Closer Look at the Accounting Profession

Daoud

2023

IJEBM

View full text Add to dashboard Cite

The accounting profession has seen significant change as a result of advancements in technology like blockchain, artificial intelligence (AI), neural networks, and fuzzy logic. The ethical problems raised by these technologies' revolutionary changes to the accounting industry are discussed in this essay. There is discussion of the benefits of digitization, such as improved productivity, precision, and decision-making abilities. It also looks at the challenges raised by these advancements, including worries about data privacy, cybersecurity risks, and the potential for bias in automated decision-making. The ethical implications of competence, integrity, and accountability are considered in the context of digitalization. The study underlines the need for robust ethical frameworks, regulatory systems, and ongoing professional development in order to ensure that the digitalized accounting profession conducts itself responsibly and ethically.

show abstract

International Comparative Management Accounting

Cited by 2 publications

References 13 publications

The future of accounting: Predictions on automation and AI integration

The future of accounting: Predictions on automation and AI integration

Ethical considerations in the Era of Digitalization: A Closer Look at the Accounting Profession

Contact Info

Product

Resources

About