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The Repercussions of Artificial Intelligence (AI) on the Quality and elucidation of Financial Statements and to the Accounting Professionals: A Review Work
Abstract
This Paper shows the relationship between Artificial Intelligence and Accounting practices and practitioners by creating a crucial analysis of previous literature related to the study. This paper emphasizes on the impacts of AI on different accounting determination and to the different methods of accounting. As the introduction of AI different companies reshaping their financial decision-making process significantly. This specific study explores the different new ideas through which the business firm can also develop their position now and then. The study reviews the different articles, case studies, Annual Reports of the company. The findings significantly enhance the speed of the company to all round’s activities and also enhances the activities of Business 4.0 and 5.0. The stakeholders of the company also be benefited significantly to take quick and accurate decisions by reviewing AI driven financial reports. However, it comprises of some amount of barrier in this process where the study mainly emphasizes on all those areas for efficient operation of business firm through the adoption of AI.
Shreyas Mahimkar Reviewer
27 Aug 2024 11:16 AM
Approved
Positive Comments:
- Relevance and Originality: The paper is highly relevant as it investigates the impact of artificial intelligence (AI) on accounting practices and practitioners, a crucial area of study given the rapid integration of AI in various business processes. The focus on how AI reshapes financial decision-making processes and accounting methods offers original insights into this evolving field.
- Methodology: The study’s use of diverse sources, including articles, case studies, and company annual reports, provides a comprehensive analysis of AI's impact on accounting. This broad approach helps in understanding various perspectives and developments related to AI in the accounting domain.
- Validity & Reliability: The findings highlight the significant improvements AI can bring to financial decision-making, including increased speed and accuracy. The emphasis on AI-driven financial reports benefiting stakeholders underscores the practical advantages of AI adoption in business practices.
- Clarity and Structure: The paper is well-structured, presenting a clear review of how AI affects accounting practices and the benefits it brings to companies. The focus on Business 4.0 and 5.0 highlights the forward-looking aspect of the study, offering valuable insights into future trends and developments.
Negative Comments:
- Relevance and Originality: While the focus on AI's impact on accounting is important, the paper could benefit from a more detailed exploration of specific case studies or examples where AI has been implemented in accounting. This would provide a more nuanced understanding of real-world applications and challenges.
- Methodology: The paper could improve by incorporating quantitative analysis or empirical data to support the claims made about AI’s impact on accounting practices. This would enhance the robustness of the findings and provide more concrete evidence of AI's effects.
- Validity & Reliability: Although the paper identifies benefits such as enhanced speed and accuracy in decision-making, it should also address potential limitations or challenges in implementing AI in accounting. A more balanced view of both benefits and barriers would strengthen the overall analysis.
- Clarity and Structure: The discussion on barriers to AI adoption could be more detailed. Providing specific examples of these barriers and proposing solutions or strategies to overcome them would offer a more comprehensive view of the challenges faced by businesses in adopting AI for accounting.
IJ Publication Publisher
Thank you
Shreyas Mahimkar Reviewer