How Big Data Will Change Accounting

WarrenJr., J. Donald; Moffitt, Kevin; Byrnes, Paul

doi:10.2308/acch-51069

Cited by 397 publications

(287 citation statements)

References 23 publications

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“…The quality of the data is also important. For some problems, there may be inaccuracy and lack of data (Warren Jr et al, ). Some of the problems may not be appropriate for the machine learning approach. For example, there must be a degree of repeatability about the problem.…”

Section: Advantages and Drawbacks Of Technology Usage In Financial Rementioning

confidence: 99%

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Impact of technology in financial reporting: The case of Amazon Go

Türegün

2019

J Corp Accounting Finance

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Since the beginning of the 21st century, there is no doubt that humanity has made a huge step forward in the field of robotics. In the next 20 years, financial reporting will see a stronger change thanks to machine learning, artificial intelligence, block chain, and big data usage. With the convergence of artificial intelligence and block chain, it is now clear that in the near future the work of the accounting profession will be supported by automation. Thus, the aim of the study to introduce the effects of technological changes and transformations on the future of financial reporting. The study first introduces technological tools and provides an overview of the advantages and threats of technological changes to financial reporting. Then, the study provides a case of Amazon Go to display the transformation of financial reporting with the technological changes.

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Section: Advantages and Drawbacks Of Technology Usage In Financial Rementioning

confidence: 99%

“…The quality of the data is also important. For some problems, there may be inaccuracy and lack of data (Warren Jr et al, 2015). 6.…”

Section: Advantages and Drawbacks Of Technology Usage In Financial mentioning

confidence: 99%

Impact of technology in financial reporting: The case of Amazon Go

Türegün

2019

J Corp Accounting Finance

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“…Such areas are indicative of information and management areas that had, traditionally, been qualitative in nature and subsequently not subject to the same rigorous analysis as quantitative data. Leveraging advances in technology, analysis, and the intersection of technology and accounting will allow organizations, and specifically accounting professionals, to better report data to stakeholder groups (Warren, Moffitt, & Byrnes, 2015). The advent of big data, improved analytics tools, and proliferation of mobile first data solutions has democratized operational information.…”

Section: Stakeholder Orientationmentioning

confidence: 99%

The Financial Effects of Strategic Divestment – An Analysis of GE Capital

Smith

2017

AFR

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Strategic thinking and initiatives are traditionally focused on expanding business operations, developing new product lines, or entering new markets. Disruptive innovation, blue ocean strategy, and fast follower innovation differ in application, methodology, and specifics that vary from industry to industry, but commonalities remain. Building out new platforms, products, services, and customer engagement initiatives are virtually ubiquitous with different strategic techniques. That said, and the focus of this analysis, is the interpretation of strategy within an alternative framework. Focusing on the transition of General Electric from a multinational conglomerate heavily dependent on General Electric Capital Corporation to a conglomerate focusing on industrial technology and sustainability this research analysis the effect of strategic divestment on organizational performance. Analysing this transition both in terms of financial ramifications and a strategic headset, a review of the financial performance of GE provides a quantitative platform to conduct a strategic analysis. Strategy, and strategic divestment and decision making involve divestment, a multifaceted approach, and realignment of organizational resources. What this research does, in this context, is examine the strategic framework and direction of GE as this reposition occurs, alongside the financial performance generated during this transition.

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“…In all areas of accounting, the use of big data in management accounting, inancial accounting and inancial reporting increases efectiveness and eiciency [32]. The audit processes are carried out in a data-focused manner and the more precise results are achieved through the big data [12].…”

Section: Big Data Accounting and Integrated Reportingmentioning

confidence: 99%

The Future of Accounting Profession in an Era of Start-Ups

Özdoğan¹

2017

Accounting and Corporate Reporting - Today and Tomorrow

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With the help of the advancements in the ield of communication and information technologies, the number of IT-based software has rapidly increased and the capabilities of high-budget enterprise resource planning (ERP) software widely used by large enterprises have begun to be ofered to small and medium-sized enterprises (SMEs). In this chapter, cloud computing and other information technologies based accounting start-ups are covered, and the efects of these highly increasing start-ups on the profession of accounting have been addressed. In conclusion, it has been predicted that technology-based accounting start-ups with both accounting professionals and entrepreneurs having an expertise on information technologies will come together and will increase in the future, and cloudbased accounting initiatives will shape the future of the profession.

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How Big Data Will Change Accounting

Cited by 397 publications

References 23 publications

Impact of technology in financial reporting: The case of Amazon Go

Impact of technology in financial reporting: The case of Amazon Go

The Financial Effects of Strategic Divestment – An Analysis of GE Capital

The Future of Accounting Profession in an Era of Start-Ups

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