The impact of AI on accounting practices: A review: Exploring how artificial intelligence is transforming traditional accounting methods and financial reporting

World Journal of Advanced Research and Reviews, Journal Year: 2024, Volume and Issue: 21(1), P. 172 - 188

Published: Jan. 4, 2024

This paper delves into the transformative impact of Artificial Intelligence (AI) on traditional accounting practices, examining its role in reshaping financial reporting, auditing, and decision-making processes. The study explores evolution from manual, labor-intensive methods to sophisticated, AI-driven approaches by setting it against backdrop rapid technological advancements. aim is critically assess how AI integration redefining landscape accounting, highlighting both opportunities challenges presents. meticulously analyzes peer-reviewed articles, case studies, industry reports last decade employing a systematic literature review bibliometric analysis. methodology ensures comprehensive understanding AI's effectiveness enhancing accuracy efficiency, strategic implications for professionals firms. findings reveal that significantly improves efficiency automating routine tasks enabling predictive analytics decision-making. However, such as need skilled personnel adept AI, data privacy concerns, high costs are notable. also highlights resistance change significant barrier adoption practices. In conclusion, recommends balanced approach emphasizing continuous learning, adaptation, planning. It advocates investment training development build competency stresses importance ethical considerations regulatory compliance. concludes while presents challenges, potential revolutionize practices undeniable, offering new avenues growth innovation digital era.

Language: Английский

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Automating financial reporting with natural language processing: A review and case analysis

World Journal of Advanced Research and Reviews, Journal Year: 2024, Volume and Issue: 21(3), P. 575 - 589

Published: March 11, 2024

In the evolving landscape of financial reporting, integration Natural Language Processing (NLP) emerges as a beacon innovation, promising to redefine paradigms accuracy, efficiency, and compliance. This paper embarks on scholarly expedition explore transformative potential NLP within realm disclosures, navigating through intricate interplay technological advancements regulatory frameworks. The study meticulously analyzes application techniques in automating unraveling complexities implementation multifaceted challenges therein qualitative research design. Through comprehensive review literature empirical data, illuminates efficacy enhancing precision reliability reports while also delving into stakeholders' perceptions regarding its adoption. findings reveal significant improvement reporting efficiency underscored by strategic importance addressing hurdles considerations. culminates set cogent recommendations, advocating for development robust framework applications alongside clarion call ongoing sophisticated models scalable solutions. essence, this not only charts course future but stands testament indelible impact innovation industry. It beckons academic professional communities forge collaborative path towards realizing full NLP, thereby ushering new era transparency insight disclosures.

Language: Английский

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Impact of digital advancements on accounting, auditing and reporting literature: insights, practice implications and future research directions

Journal of Accounting & Organizational Change, Journal Year: 2024, Volume and Issue: unknown

Published: April 8, 2024

Purpose The study aims to use bibliometric and scientometric analysis conduct a detailed investigation on the impact of disruptive technologies in accounting reporting literature. To draw both academics practitioners through accelerated research activities, also look into significance these technologies, their potential opportunities they present for profession. Design/methodology/approach With Scopus database combination accounting, reporting, auditing technology-related keywords, 1660 articles published between 2008 2023 were included sample. provide graphical data visualize findings such as bibliographic coupling, co-citation keyword co-occurrence, this used R-biblioshiny VOSViewer tools. Findings demonstrate growth scholarly interest study’s area, particularly recent years. focuses three key uses applications technology professions: adoption continuous monitoring audit profession, software tools professions connections information systems audit. Originality/value This contributes literature by examining current trends professions, identifying gaps and, most importantly, proposing agenda field. came entirely from English-language reviews database. It considers studies that are directly relevant reporting.

Language: Английский

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The Impact of Artificial Intelligence on the Accounting Profession: A Concept Paper

Business Management and Strategy, Journal Year: 2024, Volume and Issue: 15(1), P. 34 - 34

Published: Jan. 14, 2024

This study examined the impact of artificial intelligence (AI) on accounting profession. It systematically investigated effects AI technologies field, redefining roles and responsibilities accountants. Through literature review, this sheds light influence The results indicate that profession can be divided into three themes: (i) automation routine tasks, (ii) enhanced data analysis, (iii) value-adding professional roles. tasks includes entry, validation, transaction processing, while analysis predictive analytics decision support. also has impacted in terms roles, which comprise increasing scalability cost savings focus higher value activities. findings suggest is evolving response to technology, accountants should embrace these changes harness full potential their work.

Language: Английский

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Exploring accounting and AI using topic modelling

International Journal of Accounting Information Systems, Journal Year: 2024, Volume and Issue: 55, P. 100709 - 100709

Published: Sept. 21, 2024

Language: Английский

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Strategies for Cost-Effective Implementation of AI in Project Management

Advances in computational intelligence and robotics book series, Journal Year: 2025, Volume and Issue: unknown, P. 227 - 248

Published: March 21, 2025

In the evolving landscape of project management, integrating Artificial Intelligence (AI) offers entrepreneurs unprecedented opportunities to enhance operational efficiency, mitigate risks, and achieve strategic goals. This book chapter explores key strategies optimise return on investment (ROI) through cost-effective implementation AI in management. The case study approach represents how can flexibility cost savings by adopting cloud-based services for planning, resource performance analysis. Furthermore, role predictive analytics machine learning algorithms optimizing outcomes minimizing expenses. Moreover, emerging trends future directions AI-driven including advancements natural language processing autonomous management systems. conclusion, this provides with practical achieving

Language: Английский

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Blockchain-Based Triple-Entry Accounting: A Systematic Literature Review and Future Research Agenda

Journal of Information Systems, Journal Year: 2023, Volume and Issue: 37(3), P. 101 - 118

Published: Sept. 13, 2023

ABSTRACT Recent cases, such as Wirecard, Luckin Coffee, and Steinhoff, highlight the vulnerability of current accounting practices question their suitability to prevent criminal behavior. Triple-entry (TEA) is a possible answer against fraud financial manipulation that increasingly discussed in research practice. By being based on blockchain technology, TEA tamper-proof and, thus, might be an effective instrument accounting. However, despite potential TEA, this topic scattered mostly isolated from each other. conducting systematic literature review, we synthesize summarize blockchain-based TEA. Hereby, find almost entirely theoretical. Up now, real-world implementations evaluation are still missing both To address these gaps, develop guiding questions for interested scholars pave way TEA’s practical use. JEL Classifications: M40; M41.

Language: Английский

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Machine Learning for Financial Data Forecasting

Advances in finance, accounting, and economics book series, Journal Year: 2025, Volume and Issue: unknown, P. 461 - 488

Published: Jan. 22, 2025

Recent studies underscore the growing application of machine learning (ML) in finance, as revealed through bibliometric analyses. Kureljusic and Karger (2024) reviewed AI-based forecasting financial accounting, identifying gaps proposing future research agendas. Similarly, Biju et al. (2023) explored taxonomy AI, deep learning, ML highlighting rise publications need for empirical on algorithmic technologies. Building this foundation, study presents a scientometric analysis data from 1996 to 2024. Using Scopus Web Science, we examine key themes, collaboration networks, influential contributors. Employing tools like Sentence-BERT, BerTopic, BERT, ChatGPT, PEGASUS, offer insights into how has reshaped forecasting. This provides basis research, guiding scholars practitioners towards impactful areas finance.

Language: Английский

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Building the Smart City of Tomorrow: A Bibliometric Analysis of Artificial Intelligence in Urbanization

Urban Science, Journal Year: 2025, Volume and Issue: 9(4), P. 132 - 132

Published: April 17, 2025

Urbanization is a global trend that continues to grow, leading an increasing number of people live in cities. This rapid expansion creates challenges such as traffic congestion, environmental pollution, and the need ensure high living standards for all residents. To address these challenges, many cities adopt digital technologies become smarter, more efficient, sustainable. Among technologies, artificial intelligence (AI) has gained significant attention recent years due its transformative potential. In context smart cities, AI offers innovative solutions across various domains, including mobility, waste management, energy optimization. Due multidisciplinary nature advancements, research on grown significantly. A comprehensive approach needed understand role urban transformation identify key gaps. paper aims synthesize existing knowledge providing valuable insights both researchers practitioners. We define scope AI-related by analyzing scientific literature offer three main contributions. First, we provide holistic overview field conducting bibliometric analysis map status structure knowledge. Second, major themes through co-citation clustering. Third, outline future agenda most influential journal articles. Our findings have theoretical practical implications wide range disciplines, computer science, energy, transportation, security. Furthermore, our results can facilitate collaboration identifying institutions, highlight critical gaps, foster discussions benefits AI-driven city solutions.

Language: Английский

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Application of Chatbots with Artificial Intelligence in Accounting

2022 12th International Conference on Advanced Computer Information Technologies (ACIT), Journal Year: 2023, Volume and Issue: unknown, P. 196 - 200

Published: Sept. 21, 2023

The global development of chatbots with AI is radically changing social processes, the filling element which and economic information. procedure using for carrying out consulting accounting specialists on taking into account permanent changes in legislation, internal external conditions functioning enterprises was investigateed. tools have been improved AI. An information model training adapting to specific a particular enterprise has developed, list mandatory educational Changes regulatory documents regarding company's policy legitimization use proposed. A decrease number jobs forecasted as result utilization author's proposals contributes automation routine functions, minimization errors manipulations, distancing performance duties increase prestige profession.

Language: Английский

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