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Reimaging Corporate Reporting in a Digital Economy Through Accounting Data Analytics

In: Sustainable Development Through Data Analytics and Innovation

Author

Listed:
  • Kennedy Modugu

    (Faculty of Business, Higher Colleges of Technology)

Abstract

The business environment as we experience it today has evolved far beyond what we imagined several decades ago. Several tasks hitherto performed by humans and mechanically so, have now been automated with little or no human interference except for the usage of the outcome of machine algorithms. This is the reality of the digital economy which is the worldwide network of economic activities, commercial transactions, and professional interactions that are enabled by information and communications technologies. As changes to business activities abound, so is the business reporting language and the financial reporting architecture in general. No reliable business decision can emerge from a dysfunctional and antiquated corporate reporting system. Therefore, corporate managers would need to up their game by taking advantage of the vast digital technologies to provide stakeholders with accurate and timely information for quality decision-making. This chapter chronicles the concept of corporate reporting in a digital economy while x-raying the transformation of the accounting discipline from antiquity to the present-day digital economy; and the role of data analytics infrastructure in improving the quality, accuracy, timeliness, and overall decision usefulness of accounting information to the myriad users.

Suggested Citation

  • Kennedy Modugu, 2022. "Reimaging Corporate Reporting in a Digital Economy Through Accounting Data Analytics," Progress in IS, in: Jorge Marx Gómez & Lawal O. Yesufu (ed.), Sustainable Development Through Data Analytics and Innovation, pages 113-131, Springer.
    • Handle: RePEc:spr:prochp:978-3-031-12527-0_8
    DOI: 10.1007/978-3-031-12527-0_8
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