Accounting and Its Challenges in the New Era

Damayanti, Cacik Rut

doi:10.2991/aicobpa-18.2019.19

Cited by 8 publications

(6 citation statements)

References 18 publications

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“…In The influence of Industry 4.0 on the accounting system has indirectly transformed the role of accounting into a more advanced digital system. As a result, the accounting will gradually evolve from a traditional to a technological system (Damayanti, 2019).…”

Section: Resultsmentioning

confidence: 99%

Industry 4.0 and accounting: directions, challenges, opportunities

Onyshchenko

Shevchuk

Shara³

et al. 2022

Ind. Jour. Manag. & Prod.

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The purpose of the study was to reveal the directions, challenges and opportunities that arise in the accounting system in the conditions of Industry 4.0, when innovative solutions based on the capabilities of new digital technologies become the management of in-demand enterprises. The role of Industry 4.0 is shown, the features of modern Industry 4 technologies are revealed, the main technologies and production processes are demonstrated, interconnected using industrial protocols to create intelligent data. The rating of digital competitiveness and their readiness to implement Industry 4.0 technologies for 64 countries of the world is given and analyzed. These factors hinder the process of digitalization in countries with a low rating. The influence of Industry 4.0 on the accounting system is determined and the technologies affected by the fourth industrial revolution in terms of accounting (Big Data or Data Analytics, Cloud Computing, AI, Blockchain, Internet of Things (IoT), Robotic Process Automation) and changes waiting for the profession of accountant. The coordination of efforts of business, education and the state in the context of the development of Industry 4.0 technologies was noted.

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Section: Resultsmentioning

confidence: 99%

Industry 4.0 and accounting: directions, challenges, opportunities

Onyshchenko

Shevchuk

Shara³

et al. 2022

Ind. Jour. Manag. & Prod.

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“…Workers benefit from accomplishing more in less time by using this method. Using an information system to expedite data analysis could simplify the process [6]. Improved accounting systems have had a greater impact on companies' systems.…”

Section: Efficiencymentioning

confidence: 99%

Impact of information technology on accounting and finance in the digital health sector

Talha

Wang

Maia

et al. 2022

JCB

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Determination of the impact of information technology on the field of finance as well as accounting is the main aim of this research. The study in this research paper is based on secondary data analysis; this study was conducted in Pakistan to gather the research data using different websites including world development indicators and used financial reports of health sector companies. Information technology is the main independent variable; it includes scientific practices, business practices, and cultural practices; these are all independent variables. The accounting and finance included return on assets, return on equity, monitory unit policy, revenue remuneration, commercial mortgage, invoice financing, and pension-led funding. These are all considered dependent variables. For measuring the research study, E views software and run different results such as descriptive statistic, cross-covariance, unit root test analysis, and the histogram and state. The result presents that variance ratio analysis of each indicator's overall result found that there are positive and more significant influences of modern information technology on finance and accounting. Therefore, the technology that is playing a vital role in accounting and finance departments is information technology.

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“…The analysis of data will no longer focus on historical data but towards big data produced by the system. Big data is characterized by the high volume of updated and unstructured data in a complex set of software (Damayanti, 2019). The ability to work with AI-based and Big Data technology will help accountants to utilize data produced by the system and generate meaningful information for users to use in decision making (Wahyuni, 2020).…”

Section: Thementioning

confidence: 99%

The Impact of Industry 4.0 Towards Accounting Profession and Graduate’s Career Readiness: A Review of Literature

Razali

Jusoh

Talib

et al. 2022

MJSSH

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Industry 4.0 creates a turning point to the businesses and professions across industries. A transformational change is set to take place in almost aspects in the businesses and professions. Accounting profession is not excluded and are not immune to the technological disruption caused by the recent industrial revolution. The adoption of smart technologies under the realm of Industry 4.0 are affecting the normal way of work performed by accountants. Hence a revision to the current roles of accountants is needed to accommodate the change in traditional practices, processes and methods of performing work in accounting field. This study aims to review the literature on the impact of Industry 4.0 towards the accounting profession and graduate readiness for Industry 4.0 employment and subsequently update the skills requirement of future accounting graduates. Skills mismatch and the skills relevant for long-term career fulfilment are among issues discussed in prior studies. The literature analysis allows the identification of appropriate solutions for higher education institutions to overcome these issues. The study is beneficial for higher academic institutions as they assimilate Industry 4.0 in their agenda to be able to produce graduates that are ready and competent for the industry.

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Accounting and Its Challenges in the New Era

Cited by 8 publications

References 18 publications

Industry 4.0 and accounting: directions, challenges, opportunities

Industry 4.0 and accounting: directions, challenges, opportunities

Impact of information technology on accounting and finance in the digital health sector

The Impact of Industry 4.0 Towards Accounting Profession and Graduate’s Career Readiness: A Review of Literature

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