The Digital Evolution of Corporate Accounting: Trends, Challenges, and Future Prospects

EasyChair Preprint 14326

Abstract

This research delves into the digital transformation in corporate accounting, riveting on the amalgamation of artificial intelligence (AI), blockchain, and cloud computing within traditional financial systems. Digitization of corporate accounting practices through various tools offers both enhanced efficiencies and new challenges. This study employs a cross-sectional survey of 500 accounting professionals across various corporations in India to gauge perceptions of these changes. The findings underscore a positive reception of digital trends such as AI and blockchain in improving accuracy, transparency, and efficiency in accounting practices. However, significant concerns persist regarding cybersecurity, regulatory compliance, and the need for ongoing professional training. The study contributes to understanding the long-term implications of digital technologies in accounting, offering insights into the strategic integration of these technologies, and proposing frameworks to navigate associated challenges effectively.

Keyphrases: Artificial Intelligence, Blockchain, Cloud Computing, Corporate accounting, Corporate taxation, Digital Transformation, State and Local Tax

@booklet{EasyChair:14326,
  author    = {Tarab Kumar},
  title     = {The Digital Evolution of Corporate Accounting: Trends, Challenges, and Future Prospects},
  howpublished = {EasyChair Preprint 14326},
  year      = {EasyChair, 2024}}