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The Emerging Changes In The Accounting Profession And The Acconting Practice Under The Influence Of Technology

Author

Listed:
  • Mariya Pavlova

    (St. Cyril and St. Methodius University)

  • Rayna Petrova

    (St. Cyril and St. Methodius University of Veliko Tarnovo)

Abstract

The implementation of new technologies in accounting brings many benefits for the future, but also carries many risks. In the current digital era, the adequate practical application of technologies in accounting can become a strategic advantage for companies. In relation to the digitalisation and the upcoming organizational changes, both in the sphere of accounting and in the companies themselves, accounting specialists are a key factor for success. This study gives a thorough overview and analysis of specialised literature in this area and a number of empirical studies. The results show that the literature mainly focuses on certain technologies, while other are actually used in practice. Differences have been identified between the accounting practices of the USA and the European countries. The authors outline three directions in which technologies help accounting teams to transition to modern accounting and effectively perform their tasks in the digital world. The conclusion is that today, specialised skills and strategic thinking of accounting specialists are particularly important and in the near future, they will not be entirely displaced by technologies.

Suggested Citation

  • Mariya Pavlova & Rayna Petrova, 2023. "The Emerging Changes In The Accounting Profession And The Acconting Practice Under The Influence Of Technology," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 24-40.
    • Handle: RePEc:dat:earchi:y:2023:i:1:p:24-40
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    File URL: http://hdl.handle.net/10610/4752
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    References listed on IDEAS

    as
    1. Garry D. Carnegie & Paolo Ferri & Lee D. Parker & Shannon I. L. Sidaway & Eva E. Tsahuridu, 2022. "Accounting as Technical, Social and Moral Practice: The Monetary Valuation of Public Cultural, Heritage and Scientific Collections in Financial Reports," Australian Accounting Review, CPA Australia, vol. 32(4), pages 460-472, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    accounting profession; digitalisation; modern technologies in accounting; continuous accounting; strategic analysis; business partnership;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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