Information Technology Advancements Shaping the Evolution of Modern Accounting Systems

Document Type : Original Article

Author

Department of Commerce and Management Sir M.V.Government Arts, Commerce, and Management College Bhadravathi , Karnataka State

Abstract

Accounting systems have evolved from manual methods of bookkeeping to computerized systems, resulting in reduced risks, time requirements, and human resources for bookkeeping tasks. This transition has also facilitated the seamless and efficient generation of reports and access to data. This research explores the significant influence of advancements in information technology on the development of modern accounting systems. Recent technological progress has brought about substantial changes in accounting practices, enhancing the efficiency and effectiveness of financial processes. The research delves into key technological advancements such as cloud computing, big data analytics, and artificial intelligence and examines how they impact various aspects of accounting systems, including financial reporting, auditing, and decision-making. Through the analysis of case studies and empirical data, the research sheds light on the advantages and challenges associated with the adoption of these technologies in accounting practices. The findings emphasize the transformative potential of information technology in shaping the future of accounting systems, providing valuable insights for professionals and policymakers as they navigate the ever-evolving landscape of modern accounting. The proposed techniques exhibit enhanced precision, with SVM achieving an accuracy of 72.32% and Decision Tree achieving an accuracy of 79.34%. These results surpass the performance of the current system, indicating a notable improvement in accuracy.

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History

  • Receive Date: 05 August 2023
  • Revise Date: 13 September 2023
  • Accept Date: 05 October 2023

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