Write a 4 to 5 page essay about:A newspaper article or web page that discusses how accounting currently changes. Summarize the article.1. Identify the change that the article describes.2....

1 answer below »

Write a 4 to 5 page essay about:

A newspaper article or web page that discusses how accounting currently changes. Summarize the article.

1. Identify the change that the article describes.

2. Discuss the change and provide an opinion. Discuss

whether this is a good or bad change process. Specifically,

3. identify one career opportunity for you (or employees) that

occurs as a result of this change process.

Your write-up does not need to follow this structure, but it

needs to contain these parts.

Examples of current change processes in accounting (this is not an exhaustive list):

1. Working from home

2. Interviewing from home

3. Auditing from home

4. ESG and additional certification work

5. Big data/ data analytics and artificial intelligence

6. No accounting majors becoming accountants

Answered Same DayDec 08, 2022

Answer To: Write a 4 to 5 page essay about:A newspaper article or web page that discusses how accounting...

Rochak answered on Dec 09 2022
11 Votes
The topic that has been talked about in this article/web page is how big data is changing the world and how big data has entered the accounting world which is changing the way accounting is performed. This is a very interesting piece because big data can completely change how traditional accounting was recorded or performed because of its overall capability for data handling and data usage.
Big Data
Big data is not a new concept, as this has been around since the early 2000s now, but because of the increase in data we have seen this decade and the past decade, the word has become quite common which is causing the change to happen in the accounting world (C & Y 2022).
So, big data is a way to handle large data sets that cannot be handled or analyzed by traditional tools like spreadsheets, etc.
How has big data changed accounting and what are the use cases of the same?
Big data is one of those big things which impacts almost everything, and this has impacted accounting as well due to the vast nature of data handling capabilities big data has.
The use cases for big data in accounting are as follows:
· Auditing: Big data can complete large audits with complex datasets which cannot be done manually, this will help in getting better insights at the company for both the auditor and the client (Wang 2022)
· Advisory: Big data can collect large datasets which will be used to answer and monitor the questions asked by clients and this will help in improving business performance. Also, big data will help build analytical models to improve the operational efficiency
· Taxation: Taxation which is becoming more and more complex due to new rules and regulations can be solved with the help of big data as this can help in identifying improvement opportunities which will be useful for filing taxes
· Managerial Accounting: The risk identification part is very complex in managerial accounting as it involves running simulations on complex data sets which can get too complex, therefore big data can help with the identification of risk and overall management of the same
The change that has been seen with the inclusion of big data into accounting is that big data can be used for three things (Naysary, Dhoraisingam, Siew & Asiaei 2022) and all three are...

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here