Technological Challenges of Accounting

Accounting is crucial to the socioeconomic development of every nation due to the variety of economic information it provides. The efficient use and management of resources influence how an economy will grow and prosper. Lack of a thoroughly thought-out accounting method will undoubtedly lead to inefficient resource allocation and underutilization. If accounting is to remain relevant in the ever changing corporate environment, technological challenges brought by artificial intelligence, cyber security, remote labor, e-business, input and output processing, cloud computing, information technology, supply chain management systems, and forensic accounting must be overcome. This book recommends ways to overcome technological challenges that may affect accounting as a tool for socioeconomic development.