2024, Vol. 5, Issue 1, Part F
The role of intelligent systems in modern business practices with a focus on management accounting
Author(s): Dr. Ganga Bhavani, Dr. Vimlesh Tanwar and Dr. Nishta Pareek
Abstract: This review research paper explores the transformative impact of intelligent systems on the management accounting. The rapid evolution of technology, including advancements in artificial intelligence (AI), machine learning, and data analytics, has significantly altered traditional management accounting practices. This study aims to delineate the scope of these changes, assess the implications for management accountants, and identify the opportunities and challenges arising from the integration of intelligent systems. Selected recently published research articles in Scopus indexed journals in the past 5 years i.e. from the years 2019-2023 have been reviewed in this study. The significant variables identified in this study are presented in the form of research gaps and future directions. Key findings indicate that the adoption of intelligent systems has led to enhanced analytical capabilities, enabling management accountants to provide more accurate and timely insights for decision-making and strategic planning. This technological integration has also necessitated a shift in the role of management accountants from traditional task-focused roles to more strategic and advisory positions, emphasizing the need for a new skill set that includes technological proficiency alongside financial expertise. The paper concludes with recommendations for management accounting and organizations. These include investing in skills development, fostering a culture of innovation and adaptability, and implementing robust data governance frameworks to leverage the advantages of intelligent systems while mitigating associated risks. This research contributes to the understanding of the impact of intelligent systems on management accounting, offering valuable insights for professionals, policymakers, and academics interested in the future of finance and accounting in the context of technological advancement.
Pages: 447-453 | Views: 91 | Downloads: 59
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How to cite this article:
Dr. Ganga Bhavani, Dr. Vimlesh Tanwar, Dr. Nishta Pareek. The role of intelligent systems in modern business practices with a focus on management accounting. Asian J Manage Commerce 2024;5(1):447-453.
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