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The Impact of Artificial Intelligence on Accounting Professions
Title: The study was carried out on the impact of information technology on the accounting line of work. Purpose: The purpose was to determine the impact of information technology on the accounting line of works in the global system. Methodology: A survey methodology was adopted. In the course of gathering Information, questionnaires were constructed, validated, and dispensed to sampled elements of the targeted area, which had the relevant knowledge in the area of inquiry. Appropriate statistical tools were adopted to evaluate the raw facts obtained. Results/Conclusion: Results of the investigation had shown that information technology has a substantial influence on the accounting line of work and was therefore concluded that accounting line of work has changed from what it used to be before now to a line of works that developed in alliance with the trend in technical improvement and a globalized structure. Furthermore as inferred from the findings of the study, there is a great call for prompt and concerted efforts on several fronts in order to find ways of coping with the growing degree of window dressing account, the malady of accounting noise and fraud skyrocketing syndrome in the business and the non-business world due to non-adhering to tenets of information technology when carrying out an accounting line of works. Recommendation: It was consequently recommended that the accounting line of work will be greatly enhanced if information technology is allowed to penetrate and dominate accounting practices and operations.
Technological developments changed methods for carrying out tasks within the scope of accounting activities and transactions related to accounting was started to being carried out through electronic media. Growth and development growing rapidly in information technologies day by day have brought digital revolution in economic, social and cultural fields. Our era is information era and when we acknowledge that accounting is an information system, the way and processes of transacting businesses of enterprises have changed with usage of information technologies in enterprises and this influenced accounting closely. Necessity of keeping up with changing conditions of accounting led educators and practitioners to new pursuits. Enabling inclusion of information era and technologic factors in education by benefiting from digital resources as well as theoretical information in accounting education provided in universities and generating an interactive environment to keep student wakeful and preferring educational model in which information technologies are used is necessary. In order to achieve that, students should be provided to take target-driven accounting courses and an educational order should be generated in which students can evaluate and interpret information beyond recording and make difference through information and communication technologies.One of digital applications produced on this issue is E-accounting. E-accounting is perception of enabling management of all activities more efficiently, affordably, flexibly than before through facilities of internet. All parties of the activity (employee-manager-customer-public body-business partner-supplier) are real-time users of the system and those sharing up-to-date information instantly. Accounting staffs that can apply this structure in enterprises through accounting education and establish this system in enterprises are needed. Therefore, quality of accounting education is a factor influencing success of employees of enterprises and hence enterprises directly. Re-structuring of accounting education and developing contents by considering present conditions are necessary with respect to train graduates having sufficient quality to respond needs of the era and.
In 1494, the first book on double-entry accounting was published by Luca Pacioli. Since Pacioli was a Franciscan friar, he might be referred to simply as Friar Luca. While Friar Luca is regarded as the "Father of Accounting," he did not invent the system. Instead, he simply described a method used by merchants in Venice during the Italian Renaissance period. His system included most of the accounting cycle as we know it today. The first accounting book actually was one of five sections in Pacioli's mathematics book, titled Summa de Arithmetica, Geometria, Proportioni et Proportionalita (Everything About Arithmetic, Geometry and Proportions). This section on accounting served as the world's only accounting textbook until well into the 16th century. Accounting practitioners in public accounting, industry, and not-for-profit organizations, as well as investors, lending institutions, business firms, and all other users for financial information are indebted to Luca Pacioli for his monumental role in the development of accounting.
Looking for ways to handle the transition to a digital economy Robots, artificial intelligence, and driverless cars are no longer things of the distant future. They are with us today and will become increasingly common in coming years, along with virtual reality and digital personal assistants. As these tools advance deeper into everyday use, they raise the question-how will they transform society, the economy, and politics? If companies need fewer workers due to automation and robotics, what happens to those who once held those jobs and don't have the skills for new jobs? And since many social benefits are delivered through jobs, how are people outside the workforce for a lengthy period of time going to earn a living and get health care and social benefits? Looking past today's headlines, political scientist and cultural observer Darrell M. West argues that society needs to rethink the concept of jobs, reconfigure the social contract, move toward a system of lifetime learning, and develop a new kind of politics that can deal with economic dislocations. With the U.S. governance system in shambles because of political polarization and hyper-partisanship, dealing creatively with the transition to a fully digital economy will vex political leaders and complicate the adoption of remedies that could ease the transition pain. It is imperative that we make major adjustments in how we think about work and the social contract in order to prevent society from spiraling out of control. This book presents a number of proposals to help people deal with the transition from an industrial to a digital economy. We must broaden the concept of employment to include volunteering and parenting and pay greater attention to the opportunities for leisure time. New forms of identity will be possible when the "job" no longer defines people's sense of personal meaning, and they engage in a broader range of activities. Workers will need help throughout their lifetimes to acquire new skills and develop new job capabilities. Political reforms will be necessary to reduce polarization and restore civility so there can be open and healthy debate about where responsibility lies for economic well-being. This book is an important contribution to a discussion about tomorrow-one that needs to take place today.
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