Accounting Transformation in Digital Era
Manisha Verma, Rajanikant Verma, Utkarsh Tripathi - · International Journal For Multidisciplinary Research · 2023
The progression of technology has undeniably yielded a profound and incontrovertible influence upon the realm of accounting. Historically, accountants relied upon manual calculations and paper-based ledgers to reconcile financial statements, a practice that often resulted in the generation of imprecise and labour-intensive financial records, plagued by numerous computational inaccuracies. However, within the context of the present dynamic era, enterprises specializing in technology have pioneered the conception and refinement of automated accounting software, thereby facilitating a streamlined, precise, and time-efficient accounting process. Over recent years, the landscape of the accounting profession has experienced radical metamorphosis following the advent of blockchain technology and artificial intelligence, which have indelibly revolutionized the very foundations of accounting, ushering in new paradigms and prospective trends.