The Impact of Automation in the Profession of Accounting 12 12 Running Head: The Impact of Automation in the profession of accounting

Running Head: The Impact of Automation in the profession of accounting
The Impact of Automation in the profession of accounting
Name of the Student
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Author Note

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The Impact of Automation in the profession of accounting
Table of Contents
Importance of automation in the profession of accounting........................................................2
Literature Review.......................................................................................................................3
References................................................................................................................................12

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The Impact of Automation in the profession of accounting
Importance of automation in the profession of accounting
The accountants are required to have a mixed view about automation in accounting
since it includes advanced calculation and minute attention in the details of the profession.
The adoption of automation will help to simplify various actions with the help of technology
and at the same time it will help the accounts experts to accomplish their tasks properly and
timely (Huerta and Jensen 2017). However, there is a hesitation of transferring the valuable
information about the company to a digital process but there are availability of various
automation tools which will help in the accounting process significantly and efficiently ().
The automation in the accounting profession is done with the help of artificial intelligence
and this artificial intelligence helps the accountants in decision making processes and
maintaining high level strategy in the operations of invoicing and book keeping (Birt, et al.
2020). Therefore, it has been anticipated that the artificial intelligence in accounting will help
in future developments while transforming the industry in a variety of ways.
The automation in the profession of accounting has been done with the help of
artificial intelligence and cloud computing. As a result, there are many accounting businesses
which have shifted their business infrastructure into the cloud. The cloud computing and the
accounting artificial intelligence help in computing large amount of data in a short span of
time period (Marinescu 2017). On the other hand, the cloud computing also helps in storing
data with security which is more appealing for the accounting professionals and since it stores
the financial data safely therefore it makes the business entities less vulnerable for trespassing
and liability (Albugmi, et al. 2016).
As a result of the automation in accounting, the human and machines will go hand in
hand. The machines are expected to play an important role in the process of decision making
along with the cloud advancements with the application of artificial intelligence in

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The Impact of Automation in the profession of accounting
accounting. It has been expected that the machines will take over the role of the lower levels
of accounting and it will enable the accounting professionals to focus on other intellectual
and intensive works (Chhabra and Dixit 2015). Thus, it can be said that the automation in the
accounting profession will make the lives of the accountants easier.
Literature Review
There have been many researches which were conducted for the purpose of evaluating
the impact of automation in the accounting practices. A study has been conducted by
Fernandez and Aman for understanding the impact of “Robotic Process Automation” on the
global accounting services. The study has been conducted using the institutional logic lens
and it uses an in depth study of one of the largest global business services firm which is
engaged in providing accounting services worldwide. The author in the study mentions about
the RPA technology which has a significant impact on the on a business organization as well
as the individuals of the organization. This technology ultimately changes and reduces the
work by reducing the number of employees. This technology has both advantages and
disadvantages like it is responsible for creating unnecessary competition between the humans
of the organization and the robot and at the same time it helps to solve the different issues of
an organization like productivity of the employees, disciplinary problems and shortages of
human resources. However, there are certain activities which could not be done without the
help of human resources like the high level work of analytical aspects. The global business
service is an integrated business service which helps in the integration of the global
functionalities and practices within a business entity for the purpose of achieving scalability,
maximising processes and reducing the costs of operations. This research paper primarily
focuses on that global accounting services which include various accounting services like
preparation of the financial statements and reports including various financial activities of