Making Literature of review to a Proposal

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Find in the attachment the proposal file that you should do a literature review for

RESEARCH PROJECT
PROPOSAL
On
Technology integration and artificial intelligence (AI)
in the accounting field
By
[MESHARI MOHAMMED ALJEHANI]
Enrolment No. 220001242
[Master in Business Administration]
[Business Administration]
[College of Administrative and Financial Sciences]
[Insert Course Code: MGT 675]
[Jeddah Branch]
Date of Submission: 19 02 2024
Supervisor Name:
Dr. Abdullah A.Alakkas
Saudi Electronic University
Background
Technology integration and artificial intelligence (AI) in the accounting field have
revolutionized the traditionally practiced ways, announcing the era of efficiency, accuracy,
and insight. Hence, that revolution is led by the accelerated expansion of data and the
growth of the complexities of financial systems, requiring dynamic instruments that would
work smoothly in detecting and decoding information (Vărzaru, 2022). A long time of
accounting processes manually entered and used spreadsheet analysis were error
publishing and unproductive. Nevertheless, with the introduction of technological aspects
and artificial intelligence, accountant professionals now have the opportunity to operate
various advanced systems and programs meant for automating routine jobs det,ection of
patterns, and issuing of real-time information.
Such a technological transformation affects not only accounting itself but also all
the other domains. Portraying AI-powered systems in financial reporting utilizes huge
amounts of data to detect abnormalities, ascertain conformity to rule standards, and
efficiently prepare financial statements (Han & Botchie, 2023). In addition, the superior
data analytics tools set up a complete process of more predictive and trend analysis. This is
a high advantage for an organization in terms of making correct decisions and avoiding
risks. In addition, introducing AI into accounting processes benefits governance practices
by ensuring there is no need for secrecy, accountability, and auditability. Automated
monitoring systems can cease fraud and inconsistencies; at the same time, blockchain
technology guarantees the integrity and indestructibility of your financial records.
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Although AI and technology have been invented in the accounting field, various
applicable gaps still need to be addressed regarding how they are utilized. The more
numerous the studies praising the consequences of automation and data analytics, the less
research on the implementation challenges, such as workforce reskilling, data privacy
concerns, and ethical considerations (Hasan, 2021). Consequently, this proposal does not
tackle the fixes but looks at disrupting factors such as technology usage and automation in
financial reporting, decision-making processes, and governance by the accounting
profession, which all come to guide organizations on best practices and strategy
adaptations to the digital age.
Statement of the Problem
Adopting technology and AI in accounting manifests as both possibilities and
challenges. Some concerns are about data security, confidentiality, ethics, and regulatory
compliance (all of these). The objective of this research is to plug the information gap for
the few technologically sound accounting practices to infuse technology and AI into such
procedures. The study will endeavor to identify such challenges and prospects, which are
purported to present insights and solutions that will facilitate the successful integration of
technology-based solutions in the realm of accounting.
Literature Review
The advent of technology and AI in accounting and finance has generated a lot of
buzz in the business world. Firms seek to maximize the potential ushered in by the
integration of those components into their systems to realize efficiencies, enhance
accuracy, and improve decision-making processes. The study draws several important
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lessons in a commentary review of the literature on technological advances and their
impact on accounting practices.
Han et al. (2023), through a literature review, assessed the overlap of both
blockchain technology and AI with the traditional concept (accounting and auditing). Their
study illustrates that the time is not far off when blockchain and AI can take the potential
of the financial reporting and audit processes to a whole new level where data integrity,
transparency, and automation can be easily achieved. Although it seems contradictory, AI
is one of the reasons behind the humanization of accounting processes, as it enhances the
accuracy of operations and enables fraud detection, thus improving the overall decisionmaking process.
Hasan (2021) provided a broad explanation of how AI is applied in the financial
sector through an AI Auditor & Accountant, focusing on the power to make accounting
and auditing better by making them more precise, more efficient, and faster. Then,
Mohammad et al. (2020) carried out a study on how AI is changing the future of the
accounting sector. The study is particularly directed at applications of AI in data
examination, risk management, and predictive modeling.
Damerji and Sallimi’s (2021) research revealed that utilization patterns have a
mediative effect on technology acceptance and AI adoption in accounting. Their analysis
demonstrated that users’ attitudes play a critical role in AI adoption processes. These prove
that organizations must address concerns that may appear and offer adequate training and
support for workers.
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In line with this, Vărzaru (2022) looked into AI technology acceptance in
managerial accounting from the perspective of perceived usefulness and ease of use, which
foresee managerial decisions on AI technology adoption. Through their study, they set out
the need for users to buy into AI solutions as the main factor that would drive AI
implementation in the accounting sector.
Project Objectives
•
Assessing the Impact of Technology and AI on Financial Practices: This target
commends an inquiry about the effects of technology and AI on financial services
and operations.
•
Exploring Ethical and Regulatory Considerations: This objective evaluates risks
ethics, and regulatory hindrances of applying technology and AI in accounting.
•
Investigating the Role of Governance Practices in the Digital Era: The stated
objective looks into how governance policies have to change to proactively manage
and adapt to the impact of reality that technology has on accounting.
Target Population (Sampling Technique and Sample Size)
The research study population comprises accounting students and professionals
working in accounting. Implementing a stratified sampling approach, both groups are
represented and equally participate in the research. Hence, the study’s accuracy is enhanced
(Mohammad & Alhadidi, 2020). The sample size will be calculated by estimating the
population size and statistical parameters, which will be done so that the study can
generalize its findings sufficiently and ensure that God has enough statistical power. Thus,
we can get a big picture of how the combination of these technologies and artificial
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intelligence affects the business processes in all the sections of the bookkeeping
community.
Data Analysis
Data that have been collected will be analyzed thoroughly using both descriptive
and inferential statistics methods. Statistics describing mean, median, mode, standard
deviation, and frequency tables will be used to show the data’s summary characteristics. I
will use some applications of inferential statistics, including correlation analysis,
regression analysis, and analysis of variance (ANOVA), to investigate whether there are
connections between different variables and if the hypotheses are valid. Data analysis
software packages, such as SPSS (Statistical Package for Social Sciences) and R, will be
used for data acquisition. SPSS will be applied for descriptive statistics, regression
analysis, ANOVA, and R for the acute needs related to statistical methods and Data
visualization.
Two methods of presentation will be used. These are tables, figures, graphs, pie
charts, and other visual aids to effectively convey messages. Each illustration will be based
on the objectives and will be placed in that logical place where these data are described,
thus providing a clear and concise summary of the data. It is intended to assist in
interpreting results and allow stakeholders to utilize practically recommended actions from
the experiment’s data.
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Data Collection Approach
To obtain comprehensive research results, this research project will use different
data collection methods, including primary and secondary data collection methods, to
capture the effect of technology and AI on accounting practices.
Primarily, data resources will be garnered from a pre-defined survey distributed to
accounting students and professionals to acquire quantitative data on their perceptions and
experiences along with their attitude towards technology and Artificial Intelligence
incorporation in accounting. These questionnaires will be arranged to eliminate crucial
determinants such as the level of technology adoption, perceived advantages and
disadvantages, and concerns about ethical and regulatory issues. In addition, interviews
with some of the players will be conducted to go more in-depth into their opinions and
stories. These focus groups will serve as a platform for us to get the reactions of the
participants, engage in an exchange of ideas, and produce topics that are trending and
related to the thematic areas.
When examining the second data collection, scholars and academic sources will
utilize the field to provide an extensive perspective on the existing research on the topics
we are studying (Damerji & Salimi, 2021). Here, we would look for peer-reviewed articles,
books, research papers, conference proceedings, and reports from credible sources. To give
grounds for the significance of present research findings, the academic study will review
previous investigations and place them in the context of the broader scientific voice to
assess the relevant gaps in knowledge that should be studied in the future.
The data collection strategy will be sequential, allowing space for revisions of the
research questions and data-gathering procedures based on current discoveries and
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reactions to models that will be provided during the study. The surveys will be distributed
via e-mails, which are easy to deploy to the respondees and collect data more effectively
(Damerji & Salimi, 2021). The interviews and focus group discussions will be conducted
in person or virtually, whichever is more suitable from the participants’ perspective and
logistic conditions.
I will use mixed methods for data analysis, combining quantitative and qualitative
methods. Survey data will be numerically processed using multivariate statistics and
regression analysis to reveal possible relationships, trends, and repetitions. Interviews with
them and focus group discussions will be adopted to collect thematic qualitative data to
identify repeated themes, variations, and patterns in participants’ replies. The combination
of quantitative and qualitative data enables us to capture the overall landscape of AI and
technology impact levels in accounting.
Potential Scope of the Project
This proposed research project could add valuable knowledge about the
incorporation of technology and artificial intelligence into accountancy practices. By
systematically evaluating innovations, the project seeks to identify ways financial
processes, decisions, and governance practices are affected. These findings will provide
industry stakeholders and policymakers with critical knowledge that can be used for
planning purposes.
Primarily, the research work will enrich academia by bringing a fresh perspective
to the discussion by integrating the data from both primary and secondary sources, hence
gaining extensive exposure to the present status of technology implementation in the
accounting business. This project initiates research key questions of theory and empirical
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study that will lead the academic community toward practical tools that assist in analyzing
the consequences of technology and AI on the accounting profession (Damerji & Salimi,
2021). Furthermore, the findings of this research will be useful beyond the academic
community as the theory can be used by practitioners and, in addition, accounting
professionals, firms, and regulatory bodies. By identifying successful practices and
challenges and discovering tendencies, the project will become a guiding framework for
strategy development and a ground for innovations in the area, helping to deal with the
current and forthcoming digital era of accounting.
In addition, the research outcomes will guide policymakers’ technology
policymaking that seeks to monitor and regulate the use of applied intelligence in the
accounting profession. Implementation of this project will highlight ethical issues,
regulatory gaps, and possible risks, as well as evidence-based policy options that will help
regulators formulate well-grounded and ethical policies for technology practices in
accounting. These could be standards regarding data security, privacy, transparency, and
accountability to rule out any kind of excessive or inaccurate information in the financial
domain.
Project Implementation Plan
Activities
Duration (Days)
Start Date
End Date
Proposal
30
2024-02-11
2024-09-15
Literature Review
10
2024-03-06
2024-10-15
Data Collection
32
2024-03-12
2024-12-15
Report Writing
30
2024-04-17
2025-01-30
Submission of Final Report
5
2025-05-08
2025-02-04
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Total Duration of Project: 107 days
Note: Dates provided are tentative and subject to change based on project requirements and
resource availability.
References
Damerji, H., & Salimi, A. (2021). The mediating effect of use perceptions on technology
readiness and adoption of artificial intelligence in accounting. Accounting
Education, 30(2), 107-130.
https://www.tandfonline.com/doi/abs/10.1080/09639284.2021.1872035
Han, H., Shiwakoti, R. K., Jarvis, R., Mordi, C., & Botchie, D. (2023). Accounting and auditing
with blockchain technology and artificial Intelligence: A literature review. International
Journal of Accounting Information Systems, 48, 100598.
https://www.sciencedirect.com/science/article/pii/S1467089522000501
Hasan, A. R. (2021). Artificial Intelligence (AI) in accounting & auditing: A Literature
review. Open Journal of Business and Management, 10(1), 440-465.
https://www.scirp.org/journal/paperinformation?paperid=115007
Khaled AlKoheji, A., & Al-Sartawi, A. (2022, May). Artificial intelligence and its impact on
accounting systems. In European, Asian, Middle Eastern, North African Conference on
Management & Information Systems (pp. 647-655). Cham: Springer Internation
Publishing. https://link.springer.com/chapter/10.1007/978-3-031-17746-0_51
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Mohammad, S. J., Hamad, A. K., Borgi, H., Thu, P. A., Sial, M. S., & Alhadidi, A. A.
How
(2020).
artificial intelligence changes the future of the accounting industry.
International Journal of Economics and Business Administration, 8(3), 478-488.
https://www.researchgate.net/profile/MuhammadSial/publication/343817605_How_Artificial_Intelligence_Changes_the_Future_of_Acco
unting_Industry/links/5f41dfe392851cd3021d4123/How-Artificial-Intelligence-Changesthe-Future-of-Accounting-Industry.pdf
1. Vărzaru, A. A. (2022). Assessing artificial intelligence technology acceptance in managerial
accounting. Electronics, 11(14), 2256. https://www.mdpi.com/2079-9292/11/14/2256
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