Examination of Nascent Technologies in E-Accounting: A Study on the Prospective Trajectory of Accounting
Keywords:
E-accounting, Advanced Accounting, Artificial Intelligence (AI), Machine Learning (ML), Blockchain Technology, Cybersecurity, AutomationAbstract
Cutting-edge technology has transformed the transition from paper-based accounting to advanced e-accounting. This article examines the complex architecture of advanced e-accounting, including AI, ML, and blockchain. AI and ML automate complex decision-making, enabling financial forecasting and fraud detection. Smart contracts on blockchain make financial records transparent and tamper-proof. Real-time financial reporting with dynamic dashboards, automated financial consolidation, and big data for data-driven decision-making are transformative trends. Mobile accounting lets us manage finances on the go, but security and ethics are essential. The paper addresses AI-driven accounting ethics and financial data security. As e-accounting progresses, AI, ML, and blockchain automate and optimize financial operations, promising a future of strategic decision-making for enterprises. This digital frontier must be embraced to transform economic ecosystems from paper traces to unimaginable possibilities.
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