scholarly journals Digitization and Financial Reporting – How Technology Innovation May Drive the Shift toward Continuous Accounting

2018 ◽  
Vol 7 (3) ◽  
pp. 240 ◽  
Author(s):  
Sean Stein Smith
Keyword(s):  
Artificial Intelligence ◽  
Financial Reporting ◽  
Technology Innovation ◽  
Business Environment ◽  
Market Forces ◽  
Accounting Profession ◽  
Current Accounting ◽  
Stakeholder Groups ◽  
Reporting Process ◽  
Transformative Process

Technological forces, including but not limited to blockchain and artificial intelligence platforms, are driving change not only in the accounting profession, but business at large. In a business environment where data is produced nearly continuously, and stakeholder groups expect an increasing variety of information, current accounting processes do not appear sufficient. This research examines and applies current market forces, linked to both technology, including an analysis of both blockchain and artificial intelligence, and the increased influence of stakeholders on the reporting process, to do the following. First, an analysis of items to consider and review as the shift toward more continuous accounting and reporting begins is postulated. Second, and arguably more important for the combined practitioner and academic audience this research is intended for, implications and applications of more continuous accounting are put forth to assist as individuals and organizations embrace this transformative process.

THE GERMAN ACCOUNTING PROFESSION — 1931 AND BEFORE: A REFLECTION OF NATIONAL IDEOLOGIES

1993 ◽  
Vol 20 (2) ◽  
pp. 139-162 ◽  
Author(s):  
Mary E. Harston
Keyword(s):  
Financial Reporting ◽  
Competitive Market ◽  
Embryonic Stage ◽  
Market Forces ◽  
Economic Crises ◽  
Accounting Profession ◽  
Financial Reports ◽  
Cultural Ideologies

The purpose of this paper is to examine how the demand for independent audits and the German accounting profession evolved from the late 1800s to the early 1930s despite the absence of competitive market forces. The paper posits that cultural ideologies, specifically with respect to nationalism, paternalism and anti-individualism, provide reasons for the unique configuration of not only the German corporate/banking structures responsible for originating financial reports but the accounting profession that audited them. As the German accounting profession was in an embryonic stage, it was not capable of successfully confronting the corporate/banking alliance to significantly impact financial reporting or the demand for audits. Economic crises served as the dominant pressure for business reform and legislation mandating audits in Germany.

scholarly journals Management of Financial Performance Measures: Evidence from Private Colleges and Universities

2017 ◽  
Vol 6 (1) ◽  
pp. 1-29 ◽  
Author(s):  
David C. Burgstahler ◽  
Kimberly M. Sawers
Keyword(s):  
Financial Reporting ◽  
Private Colleges ◽  
Operating Performance ◽  
Accounting Standards ◽  
Colleges And Universities ◽  
Current Accounting ◽  
Stakeholder Groups ◽  
Financial Performance Measures ◽  
Lending Institutions ◽  
Private Colleges And Universities

ABSTRACT This study examines the incentives for private colleges and universities (PCUs) related to financial reporting choices for net appreciation on endowments. Under current accounting standards, in the absence of explicit donor restrictions, PCUs are permitted to classify net appreciation as either unrestricted, which increases measures of operating performance, or as restricted, which constrains future actions but may also improve perceptions of various stakeholders. We analyze incentives related to four stakeholder groups (lending institutions, faculty/staff, students/parents, and donors) and find that incentives are significant determinants of the net appreciation reporting choice for PCUs. JEL Classifications: M4; I21; I22.

Embracing Emerging Technologies and Artificial Intelligence into the undergraduate accounting curriculum: reflections from the UAE

2021 ◽  
Author(s):  
Amer Qasim ◽  
Ghaleb El Refae ◽  
Shorouq Eletter
Keyword(s):  
Artificial Intelligence ◽  
United Arab Emirates ◽  
Data Analytics ◽  
Business Environment ◽  
Digital Transformation ◽  
Job Market ◽  
Current Accounting ◽  
Blockchain Technology ◽  
Accounting Curriculum ◽  
Accounting Graduates

This study explores the implications of market digital transformation in the United Arab Emirates (UAE) for the undergraduate accounting curriculum. Responding to a number of government initiatives towards artificial intelligence (AI) transformation, corporations and government agencies in the UAE have recently started to test and adopt AI, Blockchain Technology (BT) and Data Analytics (DA) in their operations. This digital transformation in the business environment raises concerns as to whether existing accounting curricula are preparing accounting graduates for the emerging IT needs relevant to the existing accounting job market. To this end, this study explores the extent to which the current accounting curriculum in the UAE reflects the current digital transformation in the country.

Enriching AIS Courses With SOX Compliance Activities

2010 ◽  
Vol 5 (1) ◽  
pp. 1-24 ◽  
Author(s):  
Joann Segovia ◽  
Carol M. Jessup ◽  
Marsha Weber ◽  
Sheri Erickson
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Internal Controls ◽  
Accounting Profession ◽  
Investor Confidence ◽  
Reporting Requirements ◽  
Sarbanes Oxley ◽  
Audit Firms ◽  
Significant Change

A very significant change to the accounting profession occurred in 2002 when the Sarbanes-Oxley Act of 2002 (SOX) was enacted. This legislation had a significant impact on corporations and their audit firms. The objective was to improve corporate governance and its quality of financial reporting to improve investor confidence. This paper provides instructors with a background on SOX and suggests readings and activities that reflect the requirements of SOX as it relates to the AIS environment and the analysis of internal controls. These activities can strengthen students' understandings of how corporations respond to the various reporting requirements of this Act.

Innovative Marketing Strategies for Select E-Commerce Companies in India - A Review.

2018 ◽  
Vol 5 (1) ◽  
Author(s):  
Amit Kumar Bhanja ◽  
P.C Tripathy
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Business Environment ◽  
Marketing Strategies ◽  
Point Of View ◽  
Digital Marketing ◽  
Customer Base ◽  
Innovative Methods ◽  
Online Shoppers ◽  
Drastic Increase

Innovation is the key to opportunities and growth in today’s competitive and dynamic business environment. It not only nurtures but also provides companies with unique dimensions for constant reinvention of the existing way of performance which enables and facilitates them to reach out to their prospective customers more effectively. It has been estimated by Morgan Stanley that India would have 480 million shoppers buying products online by the year 2026, a drastic increase from 60 million online shoppers in the year 2016. E-commerce companies are aggressively implementing innovative methods of marketing their product offerings using tools like digital marketing, internet of things (IoT)and artificial intelligence to name a few. This paper focuses on outlining the innovative ways of marketing that the E-Commerce sector implements in orders to increase their customer base and aims at determining the future scope of this area. A conceptual comparative study of Amazon and Flipkart helps to determine which marketing strategies are more appealing and beneficial for both the customers and companies point of view.

Auditor Independence in the United States: Cornerstone of the Profession or Thorn in Our Side?

2018 ◽  
Vol 32 (3) ◽  
pp. 145-168 ◽  
Author(s):  
Bryan K. Church ◽  
J. Gregory Jenkins ◽  
Jonathan D. Stanley
Keyword(s):  
United States ◽  
Financial Reporting ◽  
The United States ◽  
Auditor Independence ◽  
Audit Committees ◽  
Systematic Evaluation ◽  
Client Relationships ◽  
Reporting Process ◽  
Regulatory Approach

SYNOPSIS The objective of this paper is to provide a systematic evaluation of independence as a foundational element of the auditing profession. We maintain that while independence is a theoretically appealing construct, it is fraught with practical problems surrounding its implementation, monitoring, and regulation. We analyze the current oversight of auditor independence and evaluate the need for auditor independence from the perspective of information users and information producers. In the process, we discuss important implications and intractable challenges that affect one or more parties involved in the financial-reporting process. Finally, we carefully evaluate alternatives to the current regulatory approach for managing auditor independence (i.e., proscribing various auditor-client relationships). We conclude that increasing audit committees' responsibilities for monitoring the auditor's independence—along with additional disclosure about threats and safeguards to auditor independence—is worthy of further consideration and debate as a path toward addressing the auditor independence conundrum.

Does Recent Academic Research Support Changes to Audit Reporting Standards?

2016 ◽  
Vol 30 (2) ◽  
pp. 255-275 ◽  
Author(s):  
Jean Bédard ◽  
Paul Coram ◽  
Reza Espahbodi ◽  
Theodore J. Mock
Keyword(s):  
Financial Reporting ◽  
Academic Research ◽  
Financial Statements ◽  
Future Research ◽  
Research Support ◽  
The Public ◽  
Market Participants ◽  
Information Gap ◽  
Public Company ◽  
Reporting Process

SYNOPSIS The Public Company Accounting Oversight Board (PCAOB), the International Auditing and Assurance Standards Board (IAASB), and the U.K. Financial Reporting Council (FRC) have proposed or approved standards that significantly change the independent auditor's report. These initiatives require the auditor to make additional disclosures intended to close the information gap; that is, the gap between the information users desire and the information available through the audited financial statements, other corporate disclosures, and the auditor's report. They are also intended to improve the relevancy of the auditor's report. We augment prior academic research by providing standard setters with an updated synthesis of relevant research. More importantly, we provide an assessment of whether the changes are likely to close the information gap, which is important to financial market participants and other stakeholders in the audit reporting process. Also, we identify areas where there seems to be a lack of sufficient research. These results are of interest to all stakeholders in the audit reporting process, as the changes to the auditor's report are fundamental. Additionally, our summaries of research on the auditor's report highlight where there is limited research or inconsistent results, which will help academics identify important opportunities for future research.

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