Discuss the impact of Artificial Intelligence and Integrated Data Transfer on Accounting in the future.
Your group must complete an essay, and provide a presentation. Essay requirements: 2000 (±10%) words excluding Bibliography Presentation requirements and marks:
7 PowerPoint Slides
2 pages’ summary of matter plus bibliography (Arial 10, 2.5
margins, 1.5 spacing)
Suggested Business Report Layout:
The report is to be in a format acceptable for a professional presentation. The report should include the following sections as a minimum.
- An Executive Summary
- Table of Contents
- Introduction (this should state what the purpose of the report
is, why these
technologies are important for the Accounting profession.)
- Analysis (main body of the report define each of the
technologies, outline them
purpose and application generally, consider impacts on B2G, B2C, B2E, B2B and
the externalities, impacts on accountants and companies specifically. Impact on
skills required, different analysis that can be undertaken, support provided by this
information to the balanced scorecards of companies)
- Summary of Findings (this section highlights the key findings from your analysis)
- Recommendations (this section summarises YOUR key recommendations and emphasises your JUDGEMENT)
- Conclusion (this section should reflect upon what you stated in the introduction i.e.
what you have done and what you found. The conclusion is about closing the report
and NOT introducing new material. Consider impacts on Accountants, what the
accounting bodies are doing any initiatives from the Big 4 Accounting firms)
- Referencing (Harvard Anglia compliant)
- Appendices (These are optional and can include any additional
materials you believe are relevant but perhaps do not have to be INCLUDED in the
You may find it very useful to make a table using these 9 points as a starting point to review
Choose one of the three question to answer
a. This assignment will require you to research business information systems and the impact of Artificial Intelligence (AI) and electronic data transfer on Accounting. Presentations will take 5 minutes with each group member playing a designated role. A written report must be provided to support the presentation.
b. Research to concept of Blockchain technology. Describe the concept in detail. How can this new advancement in technology be helpful to accountants? What problems does the new technology present if any?
c. Explain how COSO and COBIT 5 are complementary and compatible. Summarise the drivers for developing COBIT 5. Why does COBIT 5 clearly distinguish the terms governance and management. Why is this relevance to accounting and accountants?