ISAR Publisher

International Scientific and Academic Research Publisher

Submit Manuscript

The Digital Evolution of Corporate Accounting: Trends, Challenges, and Future Prospects


Author: Tarab A. Kumar*
University of Missouri.
Published Date: 2023-12-28
GoogleScholar: Click here
Keywords: Digital Transformation, Corporate Accounting, Artificial Intelligence, Blockchain, Cloud Computing, State and Local Tax, Corporate Taxation.
Abstract:
This research delves into the digital transformation in corporate accounting, riveting on the amalgamation of artificial intelligence (AI), blockchain, and cloud computing within traditional financial systems. Digitization of corporate accounting practices through various tools offers both enhanced efficiencies and new challenges. This study employs a cross-sectional survey of 500 accounting professionals across various corporations in India to gauge perceptions of these changes. The findings underscore a positive reception of digital trends such as AI and blockchain in improving accuracy, transparency, and efficiency in accounting practices. However, significant concerns persist regarding cybersecurity, regulatory compliance, and the need for ongoing professional training. The study contributes to understanding the long-term implications of digital technologies in accounting, offering insights into the strategic integration of these technologies, and proposing frameworks to navigate associated challenges effectively.