Essay - Issues in Accounting Industry

Added on - 12 Nov 2020

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ESSAY
Table of ContentsINTRODUCTION...........................................................................................................................1Main body........................................................................................................................................1Discuss the issues are impact to the accounting industry.......................................................1Discuss how post graduates might help industry to adapt to this challenge of Big Data issue inthe future.................................................................................................................................3CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONGlobal development is broad concept of denoting the idea societies and countries havediffering levels of development for an international scale. This development is means to be thelong term and suitableCao, Chychyla & Stewart, (2015). The industries are help to set range ofnew opportunities and challenges to thinking the live and for work. The body of essay ishighlight issue big data which is requires to industry or graduate for finding out the ways ofsolving challenges or risk and gain opportunities by that. Big data is impact and create problemsfor managing account sections.Main bodyDiscuss the issues impacting to accounting industry.Data volumes are continuing to grow and so the possible data is available in theorganisation at every field. Big data impact to accounting industry because there are had largenumber of data which are related to business and accounting students. There have lots of issueswhich are impact to the accounting business which are related to the big data. The big dataapplication in accounting is early stage. The emergence of big data and data analytics are createsopportunities for account for improve their skills and eligibilityChi & et.al., (2016). Below isdiscussion of big data is impacting to accounting are as follows:Handling big dataFor accounting industry, it is difficult to understand insights of huge amount data becausein industry are available huge and complex data. This creates the biggest problem to themanagement and accounting sections. Team of accounts are responsible for managing the fundsand take records of all about expenses which are related to the management and also establishingthe new business.Data securityA lot of organisation is claim to management and faced various problem from big dataand its security. Data security is issues which is faced by the company. This the biggestchallenges which is faced by the accounting businessJin, Wah, Cheng & Wang, (2015). Thisgive negative impact to the business. The data is come into enterprises is made and available thewide range of data from the various sources. Little are not secure and compliant within theorganisation standard. By this accounting sector and business are face problems from the big1
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