The impact of global technological trends on accounting
Journal Title: Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu - Year 2017, Vol 4, Issue
Abstract
The article points out that the pace of technological advance has led to integrating information and communication technology into accounting processes. Examples of advanced technologies for business that influence accounting management include computer-assisted learning and artificial intelligence, “smart” applications for telecommunication devices, “smart” things, complemented by virtual reality, digital twins, blockchain, chat communication systems, adaptive security systems, applications and network architecture, integrated electronic platforms. The aim of the research is to elucidate the impact of advanced technological trends on accounting management and highlight advantages of applying computer and communication technology to the processing of credentials. Artificial intelligence (AI) and computer-assisted learning, which include neural networks and natural-language processing, support the accounting system that is capable of learning, forecasting, adapting and working autonomously. Using AI, technology developers focus on three areas: advanced analytics of accounting information, digital assistants of accounting automation, and interactive interface for virtual reality. AI, used in automated information processing, is complemented by applying “smart” things that make it possible to identify, measure, evaluate and transfer accounting data on phenomena and events to the single database without the participation of staff. A proposed information model of integrated database might act as a common information environment for electronic interaction of all participants in financial market transactions. There is information exchange between suppliers, customers, banking institutions, legal and factoring organizations, government fiscal and statistical authorities. However, public access to a single database may lead to losses of confidential information, which requires effective methods for information protection of the accounting system. “Blockchain” is one of the advanced technologies of information security. It is a type of accounting ledger in the database (for example, in bitcoin crypto-currency), where entries are grouped consecutively into blocks to prevent unauthorized changes. The use of computer and communication technology in the accounting management will provide: the opportunity for complete automation of accounting processes; minimization of time and money spent on administrative staff; information protection in communication interactions between participants of information processes; development of algorithms for building a common database of credentials and common information environment.
Authors and Affiliations
Volodymyr Muravskyi
Keywords
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