Chapter 2

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter provides related literature as well as the writings of known professionals, all

of which have a significant influence on the chosen topic.

Related Literature

The author attempts to determine which technologies have widespread

applications for accounting educators in this article. This can serve as a foundation for faculty to

decide which media are more appropriate for or have practical applications in accounting

curricula. The author investigated whether there are differences in educators' technology choices

and the extent to which technology is used. (Nas Ahadiat, 2010)

C. Janie Chang and Nen-chen Richard Hwang1 (2010). In this study, we look at whether

US accounting firms give their auditors more information about current IT topics than colleges

do. The findings show that entry-level auditors had significantly more exposure to IT topics in

college than senior auditors. Educators recognize the importance of IT topics, according to the

findings, but only a few IT topics can/will be covered in accounting curricula.

Tutors face a number of challenges when teaching accounting to undergraduate students.

There is the issue of 'instrumentality,' which occurs when students are motivated by vocational

reasons rather than an inherent love of the subject. Students may also lack concrete experience

to supplement their learning, which may lead them to adopt learning style preferences. This

paper describes the use of a computer simulation to address some of the issues that accounting

educators face. (Neil Marriott, 2011)

 Usha Ramachandran Rackliffe and Linda Ragland (2015) say that accounting graduates

must be proficient in Excel, according to public accounting firms. Many accounting students

want to work in public accounting. This study investigates whether there is a misalignment

between the Excel skills taught in accounting classes and what faculty believes new hires use

the most in public accounting.

According to Gary Pan and Poh-Sun Seow (2016), accounting activities have changed

due to the pervasiveness of information technology in businesses. As a result, advanced IT skills

are in high demand among accounting professionals. Based on selected search phrases, we

intend to review selected articles published between 2004 and 2014. The review's findings could

be used to inform current and future accounting curriculum revisions.

According to Amani and Fadlalla (2017), areas of accounting that have benefited from

data processing include compliance and assurance, with specific advantages like company

health, fraud detection, and forensic accounting.

Both the accounting and auditing functions are undergoing significant automation, which

is able to almost certainly lead to significant staff reductions "Big Data and Audit Evidence,"

Journal of Emerging Technologies in Accounting, 2015, http the everyday mixture of

occupations in accounting companies is anticipated to change significantly, and accountants will

have to learn new skills as more traditional operations are automated and therefore the technical

maintenance and analytic demands of the work expand significantly (Zhang, Pei, and Vasarhelyi,

2017).

Recent technology advancements have paved the road for the employment of huge data

to help businesses in making decisions. Data processing is one amongst the ways employed by

management to require use of the large amount of accessible information. The aim of this study
is to research the employment of information mining techniques within the industry in an

intriguing research context, namely Jordan. The first goal of this research is to analyze

accounting and finance professionals' opinions of the usage of knowledge mining techniques as a

strategic management tool within the banking sector (Chahadah, El Refae, and Qasim, 2018).

According to Khaldoon Al-Htaybat, Larissa von Alberti-Alhtaybat and Zaidoon

Alhatabat (2018) that because of technological advancements, the accounting profession is

expected to undergo significant change in the future. Accounting graduates will need to be

educated for new tasks and positions as practices are automated and related positions become

obsolete. While significant changes are expected, participants' perspectives on the need to revise

the accounting curriculum differ. Modifications to respective courses to emphasize classic skills

such as problem-solving and contemporary skills such as new technologies are examples of

supportive changes.

As said by Gejing and Yang (2019), the info mining process has been widely utilized by

internal auditors and forensic accountants to gauge metadata and data sets so as to find trends,

anomalies, and patterns that may help predict future events and answer business queries.

According to Tricia Ong & Hadrian Geri Djajadikerta (2019), accounting graduates are

expected to have critical thinking skills in addition to knowledge of the accounting discipline.

The close connections between accounting theory, accounting research, and accounting practice

have also implied that accounting theory education must include business research. Using video

and whiteboard animation, technology can be used to create innovative teaching resources.

The application of machine learning in accounting continues to be in its early stages, with

no data on the applicability of prediction models for specific issues (Bertomeu, 2020).
 IEEE Access (2020) stated on their book that with the continuing expansion of the social

economy, businesses have raised the bar for the important efficiency and practicality of

management accounting systems. Management accounting work should be integrated with the

foremost up-to-date current technology and procedures, further as inventive approaches to

maximize work effect. Data processing technology has become widely employed during a kind

of industries because of the zoom of massive data technology. The employment of information

mining technologies allows for the accurate and effective extraction of data from large amounts

of knowledge.

This study investigates the current and potential applications of. Block chain technology

is being used in business, specifically accounting and cyber security. We demonstrate how

Block chain affects auditing in a variety of ways that will significantly alter the profession.

Block chain, we believe, should be effectively implemented in various aspects of cyber security,

such as auditing and general accounting procedures. (Sebahattin Demirkan, Irem Demirkan,

Andre McKee, 2020)

So in keeping with Ping and Wu (2021), "in today's society, the appliance of knowledge

technology is becoming more and more widespread; at the identical time, management

accounting, as a crucial branch of contemporary accounting, has also ushered in new

development opportunities; and data processing research is additionally paying more attention to

the mixture of theory and practice; thus, data processing can provide some technical support for

the implementation of strategic management accounting."

When discussing a number of the financial services industry's decision-making

technology, using data processing motives are associated with the fundamental challenge of

some typical applications using embedded design, after the conclusion of prompt analysis and
user behavior online risks Accounting Oversight Internet control, early warning accounting

software module risk within the monitoring system and embedded, the development of rate risk,

currency risk, accounting for risk predisposition (Cui, An and Zhang, 2021).

According to Sulaiman (2021) “The world is within the midst of a period of scientific and

technological dominance. The implications of this supremacy in human existence can't be

concealed. There is no doubt that cultures that have gained information and knowledge currently

govern the world and lead the scene of developed and contemporary countries. It will be

employed in public life with the event of advanced applications of the web of Things (IOT)

concept, additionally to the event of data and communication technologies, because IOT

technologies have the power to link physical entities and support interaction with the human

element.”

Vern Richardson (2021) sets out a clear option for the accounting profession in "Act or

Be Acted Upon: Revolutionizing Accounting Curriculums with Data Analytics": "either master

technology or be mastered by technology." We have an option. "Act or be acted upon."

Technology is a challenge to the accounting profession, and reforms must be implemented at all

levels.

The use of Artificial Intelligence (AI) in accounting practice is rapidly expanding, and

firms are looking for new hires who have embraced this technology. A quantitative study was

conducted to determine whether perceived ease of use (PEOU) and perceived usefulness (PU)

influence the relationship between accounting students' level of technology readiness and their

decision to adopt AI. According to the study's findings, technology readiness has a significant

impact on technology adoption. (Hassan Damerji and Anwar Salimi, 2021)

 The accounting profession is undergoing a radical transformation that necessitates

technical expertise. Disruptive technologies, such as data analytics, are increasingly being

adopted by stakeholders. We examined the curricula of 185 accounting schools to see if and

how accounting departments incorporate data analytics into their curriculum. Data analytics was

viewed as adding value in a survey, but STEM education was not. (Walter B. Moore and

Andrew Felo, 2021)