Accounting Theory and Contemporary Issues Assignment

Accounting Theory and Contemporary Issues 1
ACCOUNTING THEORY AND CONTEMPORARY ISSUES
By (Student’s Name)
Professor’s Name
College
Course
Date

Accounting Theory and Contemporary Issues 2
ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Abstract
The primary aim of this report is to prove that Artificial Intelligence is never a danger to
accounting profession but somewhat a good opportunity that needs to be adopted. On the basis of
present existing circumstances and anxieties connecting to the opportunities and threats of
Artificial Intelligence in accounting profession, this report shall offer solution hinged on study.
Different stakeholders in the accounting profession feeling believe that Artificial Intelligence is
increasingly of a threat to the profession as opposed to opportunities. This is already been
validated via media. This view has escalated over the previous decade but mainly in the present
year. Currently, media has remained full of extraordinary stories explicating how AI machines
will substitute humans at workplaces. This report is directed, therefore toward the correction this
wrong that is probably to bar accounting development.

Accounting Theory and Contemporary Issues 3
Table of Contents
Abstract............................................................................................................................................2
Introduction......................................................................................................................................4
AI Goals:..........................................................................................................................................4
AI Contributors................................................................................................................................5
Definition.........................................................................................................................................5
Software/Tools in Technology........................................................................................................6
Opportunities...................................................................................................................................8
Threats...........................................................................................................................................10
Audience........................................................................................................................................11
Key Decisions................................................................................................................................11
Helpful Information.......................................................................................................................12
Keywords.......................................................................................................................................13
Conclusion.....................................................................................................................................13
References......................................................................................................................................15

Accounting Theory and Contemporary Issues 4
Introduction
This report intends to explicate threats and opportunities attributed to Artificial
Intelligence (AI) to both non-accounting and accounting clients. These clients are stranded in
understanding the impacts of AI in respective business models. This will help me present
recommendations that takes a stance on whether to embrace AI or not. In so doing, I will be able
to dispel my clients’ fear as well as reinforce supporters of AI proponents via a clear explanation
of the key aspects of AI for both effective as well as complete comprehension of the connection
between adoption of AI and modern business models. Therefore, I will accomplish by presenting
a detailed discussion on the following aspects:
 How technology has altered accountants recent decades’ accounting practices
 Impacts of AI on accounting
 Key elements of AI
 Meaning of AI
 Opportunities of AI
 Threats of AI
AI Goals:
 To establish expert systems that display intelligent behavior, learn, demonstrate, as well
as explicate and advice users.
 Implementing human intelligence in machines via the creation of systems that
understand, think, learn and behave as humans.