Big Data, Accounting and the Future of Management Accounting: Trends and Challenges

Brisejda Ramaj/Zenuni
Big Data, Accounting, Managemenmt Accounting, International Development

Abstract

The emergence of big data has revolutionized various sectors, including accounting, and has significantly impacted international development efforts. This abstract explores the intersection of big data, accounting, and international development, highlighting their interdependence and potential impacts. Big data involves large volumes of disparate information that can be processed and analyzed to extract valuable insights. In the context of accounting, big data offers tremendous opportunities to improve financial reporting, auditing, and decision-making processes. Furthermore, the use of big data in international development initiatives can facilitate evidence-based policy formulation, improve resource allocation, and address socio-economic challenges more effectively. This abstract examines the potential benefits and challenges associated with incorporating big data into international development accounting practices. It also discusses the ethical considerations and data privacy issues that need to be addressed to harness the full potential of big data in this field. By analyzing the convergence of big data, accounting, and international development, this abstract contributes to the understanding of how these fields can jointly drive positive change and promote sustainable development worldwide. Recent developments in technology have driven the use of Industry 4.0 in manufacturing companies using virtual models through the use of machines, influencing the creation, growth of the value chain and the increased use of intelligence in the production process. These changes are also expected to dramatically affect current business models and affect the field of management accounting. The adjustment of existing procedures to adapt to changes to improve analysis and decisions is likely to become more intelligent and automated. This paper explores a new management accounting.

Presentation