Vol. 16, Issue 1, Jul-Dec 2023

Page: 186-192

Data Driven Algorithmic Evolution of Traditional Financial Accounting to Management Accounting in the Era of Artificial Intelligence

Bhavesh Gondaliya

Received Date: 2022-09-12

Accepted Date: 2022-10-13

Published Date: 2022-10-21

In the age of artificial intelligence, sophisticated information technology has revolutionized corporate financial operations, altering the functions, scope, and framework of traditional financial accounting. Simultaneously, the advancement of technology has rendered conventional financial accounting practices insufficient to meet contemporary developmental demands, thereby fostering a shift towards management accounting. This article analyzes the impact of artificial intelligence on financial accounting, juxtaposing the attributes of both disciplines to scrutinize the challenges faced by financial accounting in the era of artificial intelligence and the strengths inherent in management accounting. The author presents various perspectives on achieving a successful transition.

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