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Chapter
Applications of AI in Accounting
DOI link for Applications of AI in Accounting
Applications of AI in Accounting book
Applications of AI in Accounting
DOI link for Applications of AI in Accounting
Applications of AI in Accounting book
ABSTRACT
The second chapter provides readers with concrete examples of AI applications in various areas of accounting, including financial and managerial accounting, audit, tax, and advisory. It explores how process automation tools supplemented with AI and machine learning enhances productivity and accuracy with tasks such as bank reconciliations, inventory management, and accounts payable processing. This chapter also discusses how management accountants optimize AI to analyze data and generate insights to improve decision making. Examples of auditors and tax professionals using AI-enabled technology for tasks such as classification of transactions are also provided.