Structured Literature Review: Accounting Automation and Employment

This structured literature review examines the impact of automation on the accounting profession. It analyzes four key articles, focusing on the progression of theory, common and different themes, managerial implications, and study limitations. The review highlights how automation, driven by artificial intelligence and robotic systems, is transforming accounting tasks such as audits, payroll, and tax preparation, leading to increased efficiency, accuracy, and cost-effectiveness. The analysis covers the advantages of computerized accounting, including easy data access and improved security. The review also addresses the potential impact on employment and the evolving roles of accountants in the face of technological advancements, as well as the limitations faced by researchers, such as time constraints and resource availability. Overall, the review concludes that automation is reshaping accounting practices, offering both challenges and opportunities for professionals in the field.

STRUCTURED
LITERATURE REVIEW

Table of Contents
STRUCTURED LITERATURE REVIEW.....................................................................................1
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Summary of theory progression in chosen articles......................................................................3
Common themes and findings.....................................................................................................4
Different themes and findings......................................................................................................5
Summary of managerial articles..................................................................................................6
Limitation of the study.................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Structure literature is useful in critically evaluating the viewpoints of various scholars to
gain wider perspective on the subject matter. Automation in accounting is useful in monitoring
the performance and updating records on a real time basis with the help of artificial intelligence
and robotic system. This study tends to focus on understanding the growing pace of automation
in accounting and how it influences employment due to advancement in technology.
MAIN BODY
Summary of theory progression in chosen articles.
Oliver (2016) outlined about the future of accounting and automation, according to
which it has been evaluate that automation is effectively transforming the profession of
accounting. It results in automating all the task on a real time basis. The study was focused on
understanding the new era of no coding accounting. Artificial intelligence has immense
capability to perform task systematically. Artificial intelligence has capability to handle various
accounting function such as audit, payrolls, tax preparation, etc. It helps in making accounting
easier by effectively analysing the trend of the market. This is one of the most insightful practice
as it helps in better decision making. Villanova, (2019) articulated on reasons why automation
is a positive turning point for accountants. In this study scholar stated that automation has an
affirmative impact on accounting. It is very useful in sharpening the skills, knowledge and ability
of an individual. Automation technology is useful in automating transactional task and reduction
in error. There are various aspects of accounting which have been replaced by automated
machines and technology.

Figure 1: Accounting Job likely to be automated
(Source: Villanova, 2019) Romano (2013) stated about 9 Advantages of Computerized
Accounting where scholar established the fact that, accounting has been done manually by 1980.
After that there was discovery of computerised era where every function was automated. There
are various advantages of computerised accounting software such as automation, accuracy, easy
access to data, reliability, security, speed, cost effectiveness and visualisation. This helps in
making accounting less time consuming by recording, analysing and classifying financial data
which in turn leads to better results and outcomes. Haughy (2018) outlined about Accounting
Automation Revolutionizes How Business Approach Finance. In the study researcher
stated that, automation in accounting is useful in monitoring the performance and updating
records on a real time basis with the help of artificial intelligence and robotic system. It is useful
in automating specific task such as updating records, data entry, payroll process, etc.
Confidentiality of the data was one of the major error carried out by human which in turn
resulted in maximum exposure of the data to outsider.
Common themes and findings.
Automation in accounting and advancement in technology is one of the common themes
which has been discussed by the authors. This helps in broadening the gap on the particular area
of study. For example, Oliver (2016) sought to establish the fact that, regular task of the

accounting such as audit, payrolls, tax preparation, etc. are being automated with the help of
advanced technology. This is a less time consuming and cost-efficient process. Automation will
not replace accountants in the mere future in order to make strategic decision. According to
Romano (2013) established the fact that, this is an era of automation where task is automated in
order to increase productivity and efficiency of the business. It helps in generation of data within
few clicks, easy access to emails on iPad, sharing screen on conference call, etc. Haughy (2018)
sought to determine the fact that, automation technology helps in reducing cost and operations of
the business. It helps in reducing human error. Automated technology helps accountants in easy
access to the information, time saving, cost-efficient, privacy of data, etc. Villanova (2019) said
that, automation is an effective tool which helps in unlocking accounting capacity by replacing
practice paper with spreadsheet, electronic generation of ledger, etc. in order to make strategic
decision. Automated technology is useful in ensuring clean audit compliance and it also helps in
reducing repetitive transaction task for higher productivity and results.
Different themes and findings.
Oliver (2016) sought to establish the fact on the future of automation. It states that
automation helps in making accounting easier. The scholar of this study, focuses on how
advanced technology will be beneficial to accounting professionals and results in higher
operational productivity and standards. The scholar said that, artificial intelligence has immense
capability to handle accounting function such as audit, payrolls, tax preparation, etc. It helps in
saving time and increase use of technology leads to higher sustainable growth, performance and
productivity. Romano (2013) stated about various advantages of automated technology which
helps in turn leads to reliable and accurate data for strategic decision making. It helps in viewing
the accounts in various formats and charts in order to effectively analyse the information. The
scholar said that, it helps in easy access to the information securely, speedily and easily.
Haughy (2018) outlined about accounting automation revolutionise how organisation approach
finance. The scholar states that, automation technology results in low cash flow crisis, accurate
results, proper analysis, data security, time saving and integration of financial company and
payment. On the contrary, traditional approach is a very time consuming process and also leads
to manual errors which adversely affect the accuracy of the data. Villanova (2019) said that,
there is a positive impact of automation on the accountants as it helps in sharpens skills and
knowledge of an accountant. Various software helps accountant to carry out day to day activities

such as recording, auditing and reporting. Machines have the capability to effectively automate
the transaction task on order to make strategic decision.
Summary of managerial articles.
There are various accounting functions which machines can perform which mainly
includes accounts receivable or payable processing, supplier on-boarding, procurement, monthly
or quarterly closing process, expense management, audit, etc. Oliver (2016) sought to establish
the fact that, Automaton and advancement of technology is the new future era which in turn
results in high operational growth and productivity. This is one of the most insightful and
efficient practice which is useful in making accounting work way to easier. This helps in saving
time and accurately predicting the outcomes. It also results in high level of advisory services to
the customers for strategic decision making. Romano (2013) stated about 9 Advantages of
Computerised Accounting. They states that, computerised accounting software results in
automation, accuracy, easy access to data, reliability, security, speed, cost effectiveness and
visualisation. It helps in easy access to the information securely and results in privacy of data.
Haughy (2018) outlined about accounting automation revolutionise how organisation approach is
useful in monitoring the performance and updating records on a real time basis finance in order
to make strategic decision. The scholar states that, automation technology results in low cash
flow crisis, time saving, accurate results, data security, proper analysis and integration of
financial company and payment. Villanova (2019) stated that, automation has a positive impact
on the accounting profession. It states that, machine do not hamper the productivity and job of
the accountants. On the contrary, it leads more productive results and outcomes.
Limitation of the study.
Oliver (2016) sought to establish the fact, the major limitation of the study was time
constraints. It was difficult for the researcher to complete the task within stipulated duration of
time. But the researcher of the study, did not let this limitation hamper the efficiency and
productivity of the company. The researcher overcome this limitation by assigning time to each
activity in order to accomplish task within stipulated time. Villanova (2019) said that, major
limitation faced by the researcher is lack of financial resources in order to carry out the research.
To overcome this limitation, the researcher has made a budget plan in order to gain optimum
results and outcomes by attaining aim and objectives of the research on understanding the
growing pace of automation in accounting and how it influences employment due to

advancement in technology. Romano (2013) stated that, the major limitation of the study is to
gather and collect data but the researcher of the study has carried out research by gathering
information from relevant sources by gaining in- depth insight.
CONCLUSION
Automation in accounting is useful in monitoring the performance and updating records
on a real time basis with the help of artificial intelligence and robotic system. This study
concludes and review four articles of the scholar in order to gain brief summary on automation of
technology. It also focuses on analysing the common themes, different themes, managerial
articles and limitation of the four articles.

REFERENCES
Books and journals
Haughy.S, 2018. LIiterature review. Accounting Automation Revolutionizes how Business
approach Finance.
Oliver.B, 2016. The future of automation in accounting.
P, V., 2019. Why Automation is a Positive Turning Point for Accountants.
Romano.C, 2013. 9 Advantages of Compurterized Accounting.
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