A Review of AI and Its Impact on Management Accounting and Society

David Kerr, Katherine Taken Smith, Lawrence Murphy Smith () and Tian Xu
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David Kerr: Turner School of Accountancy, Belk College of Business, University of North Carolina at Charlotte, Charlotte, NC 28223, USA
Katherine Taken Smith: College of Business, Texas A&M University-Corpus Christi, Corpus Christi, TX 78412, USA
Lawrence Murphy Smith: College of Business, Texas A&M University-Corpus Christi, Corpus Christi, TX 78412, USA
Tian Xu: College of Business, Texas A&M University-Corpus Christi, Corpus Christi, TX 78412, USA

JRFM, 2025, vol. 18, issue 6, 1-22

Abstract: Past and current advances in artificial intelligence (AI) have resulted in a significant impact on business and accounting. Over time, AI has slowly transformed from the 1950s to today, from rule-based systems, also known as expert systems, to the deep learning architectures and sophisticated neural networks of modern generative AI. Early AI accounting applications of expert systems included a GAAP-based expert system to assess the appropriate accounting treatment for business combinations and an expert system to determine the proper type of audit report to issue. Recent accounting expert systems have been developed for document analysis, fraud detection, evaluating credit risk, and corporate default forecasting. The purpose of this study is to examine key events in the history of AI, current applications, and potential future effects pertaining to management accounting and society overall. In addition, the relationship of AI with economic and social factors will be evaluated. The study’s findings will be of interest to management accountants, businesspersons, academic researchers, and others who are concerned with artificial intelligence and its impact on management accounting and society overall.

Keywords: artificial intelligence; expert systems; business; management accounting (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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