AI and Future Accounting Assignment

Added on - 01 Apr 2020

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RUNNING HEAD: AI and future accountingAI and future accounting
AI and future accounting1Table of ContentsIntroduction...........................................................................................................................................2Research question:................................................................................................................................2Literature review...................................................................................................................................2Qualitative research..............................................................................................................................5Method of qualitative research:........................................................................................................5Document analysis.........................................................................................................................5Discussion..............................................................................................................................................6Arguments in favour of use of AI.......................................................................................................6Arguments against the use of AI........................................................................................................7Data analysis..........................................................................................................................................8Conclusion.............................................................................................................................................8References...........................................................................................................................................10Appendix:............................................................................................................................................12
AI and future accounting2IntroductionAI is the system where a machine learns by means of algorithms to understandstatistics from the world to estimate outcomes and learn from achievements anddisappointments. This research proposal includes the literature review of AI and futureaccounting. After literature review the qualitative research methods are analysed which canbe used during research like document analysis, focus group and many more. After researchmethods the analysis of data is done to find out the total time duration taken in completingthe research proposal. Then the discussion is undertaken regarding benefit and disadvantagesof AI in future accounting. And in last conclusion are analysed regarding research.Research question:A research question is the crucial centre of an examination venture, study, or audit of writing.It centres the examination, decides the philosophy, and aides all phases of request,investigation, and reporting.1.What is role of artificial intelligence in accounting?2.How artificial intelligence helps in taking decisions of accounting?3.How to exploit technology in accounting?Literature reviewAI use in future accounting is giving benefits to not only to accountants but also to companiesas well. Following are the main key points for in AI and accounting:Focus on purpose: Accountants duty is to help company and economy work excellently byproviding advice and taking decisions (Fethi & Pasiouras, 2010). As accounting activities areultimately related to decision process regarding the allocation of resources and data for the
AI and future accounting3company. Accountants help in investment, growth, and confidence in the organization. Theartificial intelligence system enables fundamentally numerous approaches towardsaccountant’s objective. It also helps in solving business problems the accountants need toresolve in daily routine. There aremore problems and concerns like investors’ confidence andtrust, government audits, tax assessment and many more daily routine issues can be solvedwith the help of artificial intelligence. The faith and confidence amongst various stakeholderscan also be achieved through adopting artificial intelligence. Solving these kinds of basicproblems for the organization is significant for companies and economies to lead in themarket. According to Lee, Shih & Chen, (2012) there are likewise many new issues that canbe changed with new information and more advanced frameworks. In all cases, there is aenormous measure of work to do to accomplish those objectives. At any rate, there is arequirement of compelling estimation to empower educated choices on the assignment ofmoney related and different assets to accomplish the objectives. Companies additionallyrequire responsibility for those choices (ICAEW, 2017).Exploit powerful technologies: It is then imperative to perceive and abuse the energy of newinnovations successfully. This report features the quality of machine learning ways to dealwith AI, and profound learning strategies specifically, which are frequently promptingsignificantheadway in numerous regions of research. Inany case, it is a complex andconsistently changing innovative setting. Different regions of innovation will communicatewith AI and significantly affect business later on, as block-chain or quantumprocessing.Also, the pace of progress in abilities can be quick, and the ideaof learning-based andinformation-driven frameworks empower nonstop change. According toJohnson, Phillips &Chase, (2009) tocompletelymisuse effective new advancements, we should be clear abouttheir exceptional qualities and how they can take care of genuine issues. There is normally
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