ABSTRACT
Digitalization plays a pivotal role in the economic development of the country. In the present scenario, digital transformation in accounting is one of the important sectors to witness revolutionary changes in the world. Digital accounting means introducing aspects with technology. Digital technologies in combination with „big‟ data and predictive analytics are having a significant impact on professional practices at individual, organizational, national, and international levels. Digitization has been seen to change innovation processes and some experts believe it will change whole markets. The accounting industry is one of the industries that has been seen to have a growth in digitalization and is expected to grow even more. This article tries to present that how the technology brought up changes in recent times through traditional methods were once characterized by manually sitting through hour-long to up gradation without any visual presentation. The study investigates the status quo and developmental trends of digitalization in accounting, the responsibilities for implementation, and any obstacles to the digitalization of accounting, which may have already emerged. Building on this, a maturity level model was developed that assigns companies to defined clusters and reflects the current status of digitalization in their accounting systems. The accounting sector are like many other industries is experiencing the need for a change due to digital technologies. Therefore, this study aims to investigate how digital accounting businesses could set up a general business model, to be a successfully digitalized business.
Keywords: Digitalization, Accounting, Blockchain, Fibre connectivity, Cloud Accounting, Artificial Intelligence.
Received : 04st September 2019
Accepted : 16th September 2019
Published : 15th October 2019
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