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The convergence of big data and accounting: innovative research opportunities

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  • Ibrahim, Awad Elsayed Awad
  • Elamer, Ahmed A.
  • Ezat, Amr Nazieh

Abstract

This study aims to develop accounting standards, curriculums, and research to cope with the rapid development of big data. The study presents several potential convergence points between big data and different accounting techniques and theories. The study discusses how big data can overcome the data limitations of six accounting issues: financial reporting, performance measurement, audit evidence, risk management, corporate budgeting and activity-based techniques. It presents six exciting research questions for future research. Then, the study explains the potential convergence between big data and agency theory, stakeholders theory, and legitimacy theory. This theoretical study develops new convergence points between big data and accounting by reviewing the literature and proposing new ideas and research questions. The conclusion indicates a significant convergence between big data and accounting on the premise that data is the heart of accounting. Big data and advanced analytics have the potential to overcome the data limitations of accounting techniques that require estimations and predictions. A remarkable convergence is argued between big data and three accounting theories. Overall, the study presents helpful insights to members of the accounting and auditing community on the potential of big data.

Suggested Citation

  • Ibrahim, Awad Elsayed Awad & Elamer, Ahmed A. & Ezat, Amr Nazieh, 2021. "The convergence of big data and accounting: innovative research opportunities," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    • Handle: RePEc:eee:tefoso:v:173:y:2021:i:c:s0040162521006041
    DOI: 10.1016/j.techfore.2021.121171
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    References listed on IDEAS

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    Cited by:

    1. Kanyarat (Lek) Sanoran & Jomsurang Ruangprapun, 2023. "Initial Implementation of Data Analytics and Audit Process Management," Sustainability, MDPI, vol. 15(3), pages 1-14, January.
    2. Gabrielli, Gianluca & Magri, Carlotta & Medioli, Alice & Marchini, Pier Luigi, 2024. "The power of big data affordances to reshape anti-fraud strategies," Technological Forecasting and Social Change, Elsevier, vol. 205(C).
    3. Falana, Gbenga Ayodele & Olusola Esther (PhD) & Dagunduro, Muyiwa Emmanuel, 2023. "Effect of Big Data on Accounting Information Quality in Selected Firms in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(3), pages 789-806, March.
    4. Grosu, Veronica & Cosmulese, Cristina Gabriela & Socoliuc, Marian & Ciubotariu, Marius-Sorin & Mihaila, Svetlana, 2023. "Testing accountants' perceptions of the digitization of the profession and profiling the future professional," Technological Forecasting and Social Change, Elsevier, vol. 193(C).

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