Business Information SystemsGroup Assignment
Purpose
The purpose of this assignment is to enable students to understand the applications of
artificial intelligence (AI) in accounting, which includes business intelligence, data analytics
and robotic process automation. This is a research-based assignment with three students
working in a group on a given research question. Please note again that as this is a group
assignment, all students in the group are expected to work together and contribute equitably.
Assignment background
Artificial Intelligence (AI) has brought radical changes in the way businesses operate. Apart
from automating manufacturing, customer relationships, inventory control, financial data
analysis and so on, AI also has applications in computerised accounting software. Gone are
the days when the role of the accountant involved aspects of bookkeeping, documentation
and filing paper-based invoices and source documents for audit purposes. In contemporary
times, the role of the accountant is evolving into more advisory services and information
analysis rather than spending countless hours on data entry, data classification, financial
statements processing and then analysis. With the advent of computerised accounting,
several traditional functions of accountants were taken over by computer-based systems.
However, the application of AI in making processes further automated is happening in the
accounting profession at a fast pace.
The early stages of AI implementation had multiple failures and it took many years for the
technology to achieve accuracy and speed. This change is also met with fears of job losses
and resistance to change. However, the use of AI is gradually increasing in our society.
Robotics technology is used in our workplaces, residential settings, shared public places
including entertainment, sports and recreation centres. Google has projected that robots will
achieve intelligence levels exceeding the human brain by 2029. There are five areas that will
be heavily impacted by increased reliance on robotics technology and AI. These include
manufacturing, transportation, healthcare, customer service, and relevant for this
assessment, accounting and finance. It is also important that accounting students have a
sound understanding of these issues and their implications on the future of the accounting
profession.
Requirement – critical review (2000 words)
Conduct web-based search and identify at least 5-8 articles about the use of AI in
accounting functions. Provide critical analysis of these sources and give a response in the
form of a critical literature review. You should analyse the source, discuss how certain
functions are changing and contrast how they were performed without AI-based computer
packages. There are many AI-based software developers who assist accounting and finance
functions in accounting firms. The websites of those software companies may also provide
details of their operations. Additionally, professional accounting bodies may have some
journal articles, online discussion forums and social media groups may cite credible
information about use of AI in accounting. As long as the selected sources are credible and
not public commentary without a valid base, students can expand their research as they
wish. Being critical also involves developing an ability to select sources of information that
are valid and credible. Articles can also be downloaded from research-based journals.
Further Additional Information
The following matters should be given particular attention:
1. Requests for extension of time must be made with your lecturer and based on Special
Consideration guidelines.
2. In your assignment, use 12-pt times new roman font, use 2 cm margins on all four
sides of your page and 1.5 line spacing.
3. Remember to reference your writing (APA styles) and include a bibliography at the
end of the report.
4. All assignments are to be uploaded to Moodle.
What I need to do:
-Contrast of how AI has the potential to change traditional accounting functions
(around 300-400 words)
-Critical review of at least 5-8 credible sources/articles about the use of AI in
accounting functions (around 600-800 words)
-Conclusion (around 200-300 words) that summarizes the key points discussed and
provides insights on the future implications of AI in accounting.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
