Is accounting keeping pace with digitalization?

Alnoor Bhimani

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Digital transformations are taking place across enterprises in every industry. Becoming digital is both essential to compete and virtually unstoppable. All previous major technological disruptions have led to financial intelligence being altered to ensure more effective decision making in the face of change. This article considers issues that organizations going digital need to address in relation to accounting information provision. It discusses several points: accounting’s need to move toward the delivery of predictive information rather than relying on extrapolations of historical data; the recognition that machines make more decisions that alter accounting information needs, structures, and contents; the importance of recognizing the “data-learning-action” loop that is emerging; the emergence of “strat-perational” information contexts; and the relevance of prioritizing qualitative insights in decision making.

Keywords: strat-perational; digital transformations; accounting; accounting information (search for similar items in EconPapers)
JEL-codes: M41 O14 O32 Q55 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2023-11-01
New Economics Papers: this item is included in nep-acc
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Published in Journal of Financial Transformation, 1, November, 2023, 58, pp. 98-103. ISSN: 1755-361X

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Journal Article: Is accounting keeping pace with digitalization? (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:121606

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