Research Article
Open access
Published on 10 November 2023
Download pdf
Zhu,Y. (2023). The Digital Transformation of Enterprise Accounting: Big Data, AI and Financial Sharing. Advances in Economics, Management and Political Sciences,31,187-192.
Export citation

The Digital Transformation of Enterprise Accounting: Big Data, AI and Financial Sharing

Yujie Zhu *,1,
  • 1 College of William & Mary

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/31/20231536

Abstract

Digitalization is the most significant change occurring in the field of accounting. With the advancement of science and technology applications, the digital transformation of enterprise finance is gradually becoming a reality. Big data, machine learning, and artificial intelligence-based digital technology lay a solid foundation for transforming and upgrading enterprise accounting. The demands for scientific, forward-thinking, and data-driven enterprise financial management are increasing in an era of deep Internet of Things integration and digitalization. It is no longer necessary to rely on traditional module administration, manual decision-making, and one-way operation, but rather to improve data analysis, data application, and financial value improvement. Financial sharing will become a critical component of corporate operation, providing solid financial backing for strategic enterprise choices, departmental operations, and organizational change. To achieve true financial transformation, enterprises must continue integrating financial resources, increasing technology research and development, and transforming and upgrading their systems. Financial departments and personnel must accelerate their adaptation to the development requirements of digitalization, which necessitates technological iteration, functional transformation, and reform.

Keywords

digital transformation, enterprise accounting, financial sharing

[1]. Wang, L.: The transformation strategy from financial accounting to management accounting under big data. Modern Economic Information, vol. 4(2020).

[2]. Möller, K., Schäffer, U., Verbeeten, F.: Digitalization in management accounting and control: an editorial. Journal of Management Control 31(1-2), 1–8 (2020).

[3]. Li, S., Gao, L., Han, C., Gupta, B., Alhalabi, W., Almakdi, S.: Exploring the effect of digital transformation on Firms’ innovation performance. Journal of Innovation & Knowledge 8(1), 100317 (2023).

[4]. Guerra, J. M. M., Danvila-del-Valle, I., Suárez, M. M.: The impact of digital transformation on talent management. Technological Forecasting and Social Change 188, 122291 (2023).

[5]. Peng, Y., Tao, C.: Can digital transformation promote enterprise performance?-From the perspective of public policy and innovation. Journal of Innovation & Knowledge 7(3), 100198 (2022).

[6]. Kokina, J., Blanchette, S.: Early evidence of digital labor in accounting: Innovation with Robotic Process Automation. International Journal of Accounting Information Systems 35, 100431 (2019).

[7]. Li, R.: Analysis of the impact of digital transformation on financial control. Finance and Accounting for International Commerce 3, (2022).

[8]. Zhang, Q.: Financial sharing upgrading and reengineering under digital transformation. New Finance: Corporate Finance 8,31-34 (2019).

[9]. Fei, L., Xu, W., Zhang, J., Zhang, h.: Build a financial sharing service center for industry-finance integration to help the digital transformation of group companies. China Chief Financial Officer 2, 76-80 (2020).

[10]. Wang, B., Li, Y.: The digital transformation trend of finance in the era of big data and the coping strategies of financial personnel. Management Scientist 1, 48-50 (2021).

Cite this article

Zhu,Y. (2023). The Digital Transformation of Enterprise Accounting: Big Data, AI and Financial Sharing. Advances in Economics, Management and Political Sciences,31,187-192.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About volume

Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development

Conference website: https://www.icemgd.org/
ISBN:978-1-83558-083-7(Print) / 978-1-83558-084-4(Online)
Conference date: 6 August 2023
Editor:Canh Thien Dang
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.31
ISSN:2754-1169(Print) / 2754-1177(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open access policy for details).