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The Impact of AI and Automation on Accounting Modernization for Small and Medium Enterprises (SMEs): Enhancing Accuracy, Financial Forecasting, and Compliance
Subject area: Arts, Social Sciences and Humanities · Area of research: Sciences
Abstract
The integration of Artificial Intelligence (AI) and automation into accounting practices is transforming financial management in small and medium-sized enterprises (SMEs). AI technologies reduce manual errors, enhance financial forecasting, and improve compliance with regulatory requirements. By automating repetitive tasks, SMEs can allocate resources more efficiently, focus on strategic decision-making, and gain real-time insights into their financial operations. This paper explores the impact of AI and automation on SME accounting, highlighting practical applications and case studies that demonstrate increased operational efficiency, accuracy, and regulatory adherence.
Keywords
Artificial Intelligence, Automation, Accounting, Small and Medium Enterprises, Financial Forecasting, Compliance, Operational Efficiency.
References
[1] Brynjolfsson, E., & McAfee, A. (2017). Machine, Platform, Crowd: Harnessing Our Digital Future. W. W. Norton & Company
[2] Davenport, T., & Ronanki, R. (2018). Artificial Intelligence for the Real World. Harvard Business Review, 96(1), 108–116
[3] Kokina, J., & Davenport, T. H. (2017). The Emergence of Artificial Intelligence: How Automation and Machine Learning Are Changing the Accounting Profession. Journal of Emerging Technologies in Accounting, 14(1), 115–122
[4] Moffitt, K. C., Rozario, A. M., & Vasarhelyi, M. A. (2018). Robotic Process Automation for Auditing. Journal of Emerging Technologies in Accounting, 15(1), 1–10
How to cite this paper
@article{1710482,
author = {Hosana Lopes Ghirelli},
title = {The Impact of AI and Automation on Accounting Modernization for Small and Medium Enterprises (SMEs): Enhancing Accuracy, Financial Forecasting, and Compliance},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {9},
number = {3},
pages = {985-987},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1710482.pdf},
abstract = {The integration of Artificial Intelligence (AI) and automation into accounting practices is transforming financial management in small and medium-sized enterprises (SMEs). AI technologies reduce manual errors, enhance financial forecasting, and improve compliance with regulatory requirements. By automating repetitive tasks, SMEs can allocate resources more efficiently, focus on strategic decision-making, and gain real-time insights into their financial operations. This paper explores the impact of AI and automation on SME accounting, highlighting practical applications and case studies that demonstrate increased operational efficiency, accuracy, and regulatory adherence.},
keywords = {Artificial Intelligence, Automation, Accounting, Small and Medium Enterprises, Financial Forecasting, Compliance, Operational Efficiency.},
month = {September},
}