Accounting meets metaverse: navigating the intersection between the real and virtual worlds

Pandey, Durgesh; Gilmour, Paul Michael

doi:10.1108/jfra-03-2023-0157

Cited by 18 publications

(16 citation statements)

References 23 publications

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“…Virtual classrooms, workshops, and conferences enable worldwide learning and skill development. Professionals from different professions can collaborate, share experience, and solve complicated challenges, opening new avenues for collective growth and progress [27].…”

Section: Bridging Gaps: Metaverse As a Tool For Global Collaborationmentioning

confidence: 99%

Metaverse: open possibilities

Aljanabi,

Mohammed

2023

ijcsm

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To create a completely immersive, highly spatiotemporal, and self-sustaining virtual shared place for humans to play, work, and interact, the Metaverse is an emerging paradigm of the next-generation Internet. Metaverse is transitioning from science fiction to a near-future reality thanks to recent developments in new technologies like extended reality, artificial intelligence, and blockchain.In this study, we investigate the Metaverse, a shared, fully immersive virtual environment that could serve as a model for the Internet’s future generation. Safety, education, games, entertainment, social effects, the economy, ethics, and future issues are just few of the many areas covered. The Metaverse’s innovative tools for communication and collaboration may have a profound impact on people’s daily lives and the way society operates as a whole. However, there are obstacles that must be addressed before it can be implemented. If the Metaverse is accepted, a far different digital future is possible.

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Section: Bridging Gaps: Metaverse As a Tool For Global Collaborationmentioning

confidence: 99%

Metaverse: open possibilities

Aljanabi,

Mohammed

2023

ijcsm

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“…The paper "Accounting meets metaverse: navigating the intersection between the real and virtual worlds" (Pandey and Gilmour, 2023) aims to highlight and rationalize the lack of regulatory framework and multiplicity of jurisdictions on metaverse transactions. This paper addresses some of the complications with respect to accounting and taxation in virtual environments.…”

Section: Outline Of Articles In the Special Issuementioning

confidence: 99%

Guest editorial: The future of financial reporting and accounting in the metaverse

Musleh Alsartawi,

Hussainey

2024

JFRA

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“…The maturation of ML and AI is also one of the technologies enabling digital transformation to the metaverse (Lee et al, 2021;Blau et al, 2022), a virtual world where people can interact in various activities, including engaging in business activities that require accounting (Pandey and Gilmour, 2023). Commentators argue that the metaverse will be the culmination of various technologies to create an immersive platform which extends the way business is currently performed from the physical world to the digital world (Lee et al, 2021;Blau et al, 2022).…”

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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Accounting meets metaverse: navigating the intersection between the real and virtual worlds

Cited by 18 publications

References 23 publications

Metaverse: open possibilities

Metaverse: open possibilities

Guest editorial: The future of financial reporting and accounting in the metaverse

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

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