Leveraging Digital Technology to Transform Accounting Function: Case Study of a SME

Pan, Gary; Lee, Benjamin

doi:10.5296/ijafr.v10i2.17052

Cited by 9 publications

(9 citation statements)

References 14 publications

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“…Further empirical studies should be conducted in different countries to find similarities and differences. This model should also be applied in SMEs because these enterprises are tending to digitize accounting more strongly (Moll and Yigitbasioglu, 2019; Pan and Lee, 2020).…”

Section: Discussionmentioning

confidence: 99%

Blockchain adoption in accounting by an extended UTAUT model: empirical evidence from an emerging economy

Afifa

Van²,

Van³

2022

JFRA

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Purpose The purpose of this study is to use an extended Unified Theory of Acceptance and Use of Technology (UTAUT) model to investigate the intention to use blockchain from the accountant's point of view. The proposed model is expected to provide the necessary incentives for accountants to adopt blockchain. The authors build external constructs based on discussions of blockchain properties for accounting such as accounting information quality, job relevance and trust. In addition, the study also considers computer self-efficacy and compatibility as factors related to practitioners’ blockchain acceptance. Design/methodology/approach By using the developed online-questionnaire, the data is collected from the responses of 317 accountants working in listed enterprises in Vietnam. The main analyzes are performed by Smart partial least squares structural equation modeling technique to present both direct and indirect effects on the intention to use blockchain. Findings Experimental results provide many interesting and valuable things. First, performance and effort expectancy have a positive influence on intention to use blockchain, while social influence has a lower influence. Second, trust has a direct and positive effect on effort and performance expectancy, as well as intention to use blockchain. Quite surprisingly, accounting information quality has a positive effect on performance expectancy, while job relevance has a negative effect. Fourth, computer self-efficacy and compatibility have a positive effect on effort expectancy. It is more interesting that the intention to use blockchain has nothing to do with compatibility. The results of this study also show that performance and effort expectancy play a mediating role in the indirect effects of trust, computer self-efficacy and compatibility on intention to use blockchain. Research limitations/implications The study shows that accountants in Vietnam have a high intention to use blockchain. This implies that the Vietnamese Government and the professional association should design training programs or open training sessions on blockchain. Accountants can clearly understand the importance of blockchain in their work as well as the positive effect of blockchain on performance. They are consulted on how to use blockchain. They also perceive that using blockchain is not too difficult, and the acceptance of this technology will be higher. Additionally, universities should put triple-entry accounting into their teaching, so accounting students can improve their skills and knowledge relevant to blockchain to meet their career needs in the future. Originality/value The study proposes an extended UTAUT model with external constructs built on blockchain's effects on accounting. The model makes more sense in promoting the use of blockchain in accounting.

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Section: Discussionmentioning

confidence: 99%

Blockchain adoption in accounting by an extended UTAUT model: empirical evidence from an emerging economy

Afifa

Van²,

Van³

2022

JFRA

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“…Scientists of Singapore Management University G. Pan & B. Lee substantiated the feasibility of transforming accounting functions in small and medium-sized businesses [25]. Scientists emphasise that most small and medium-sized businesses do not use digital technologies in accounting and auditing.…”

Section: Discussionmentioning

confidence: 99%

Application of Digital Technologies in Accounting and Auditing at Enterprises of Ukraine

TENYUKH¹,

PELEKH²,

KHOCHA³

2022

Scientific Bulletin of Mukachevo State University Series “Economics”

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The rating of Ukraine among European countries in the field of digitalization of economic processes is high. Ukraine has chosen the path of maximum digitization of the national economy. To ensure successful economic activity at Ukrainian enterprises, it is important to introduce and use digital technologies in accounting and auditing. In the practice of accounting, a number of digital technologies are used, each of which has its own advantages and disadvantages. When choosing one or another digital technology, the management apparatus of enterprises takes into account its capabilities and peculiarities of activity. The relevance of the work lies in the importance of introducing digitization of accounting and auditing processes to facilitate the monotonous and uniform work of enterprises and to minimize errors in documents and reporting. The purpose of the article is to study the peculiarities of the use of digital technologies in accounting and auditing at enterprises of Ukraine. When writing the article, general scientific and specific methods were used, among which preference was given to the following: analysis, comparison, observation, synthesis, generalization, abstraction, induction, deduction, graphic. Based on the results of the research, the main types of digital technologies used by Ukrainian enterprises in accounting and auditing were identified, and the specifics of their use were determined. The paper analyzes the level of use of various types of digital technologies in accounting and auditing, outlines their advantages and disadvantages. Statistical data on the use of cloud technologies in accounting and technologies for working with large data sets at enterprises of Ukraine in 2018-2021 were analyzed. Conclusions were made regarding the prospects of using digital technologies in accounting and auditing at Ukrainian enterprises. The practical significance of the obtained results lies in the application of the block diagram by Ukrainian enterprises, which will help in choosing the implementation of a particular digital technology in the enterprise's activities. The manager will be able to familiarize himself with the advantages and disadvantages of each digital technology and make the optimal decision

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“…In a case study, Szopa and Cyplik [18] calculated the digitalization index of a manufacturer company. Pan and Lee [20] exploited Lewin's [21] theory of change ("unfreeze-change-refreeze") as a framework for understanding the digital transformation process. This model emphasizes how employees feel about new ideas, explores their feasibility, and finally, comes to consensus to accept the ideas.…”

Section: Literature Reviewmentioning

confidence: 99%

“…This approach is interesting, as it tries to understand how changes occur, in the context of an individual and a collective group. Furthermore, Pan and Lee [20] piloted this model to analyze an accounting case in an SME.…”

Section: Literature Reviewmentioning

confidence: 99%

Applying the positioning phase of the digital transformation model in practice for SMEs: toward systematic development of digitalization

Kääriäinen

Pussinen

Saari

et al. 2021

IJISPM

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Digital transformation (DT) refers to the changes in ways of working and business offering caused by adoption of digital technologies in an organization. Small and medium-sized enterprises (SMEs) are struggling with this transformation because of their limited resources and know-how. Thus, SMEs need practical grassroots-level help for DT that allows the companies to analyze where they stand in digitalization, and how they should proceed. This article discusses how SMEs can be supported in their DT by utilizing the DT model consisting of four consecutive phases for supporting companies’ systematic development of digitalization. The article focuses on the first phase of the DT model, positioning, where company’s digitalization status is analyzed in detail, and development ideas are identified. The positioning phase was conducted for 19 SMEs in Northern Ostrobothnia, Finland. The results indicate that the used process and tools were suitable to support SMEs for analyzing their digitalization status and identifying areas for improvement. The DT model and piloted tools have been published as a free-of-charge ApuaDigiin.fi online service to facilitate their widespread use in the future. In this way, public regional business development authors or research organizations can utilize the online service while supporting the digitalization of SMEs.

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Leveraging Digital Technology to Transform Accounting Function: Case Study of a SME

Cited by 9 publications

References 14 publications

Blockchain adoption in accounting by an extended UTAUT model: empirical evidence from an emerging economy

Blockchain adoption in accounting by an extended UTAUT model: empirical evidence from an emerging economy

Application of Digital Technologies in Accounting and Auditing at Enterprises of Ukraine

Applying the positioning phase of the digital transformation model in practice for SMEs: toward systematic development of digitalization

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