Accounting Disrupted: How Digitalization Is Changing Finance - Hardcover

Bhimani, Al

Hardcover

ISBN 10: 1119720060 ISBN 13: 9781119720065

Publisher: Wiley, 2021

Synopsis

Accounting Disrupted: How Digitalization is changing Finance delivers a powerful analysis of the new technological forces buffeting the accounting profession and identifies key pathways to responding to the challenges. Al Bhimani, distinguished accountant, academic, and author, shows readers how established business fundamentals are being eclipsed and that accounting has not been spared.

You'll learn:

• How the new realities of digitalization, including big data and AI, are affecting audit work and financial management practices
• How learning fast about and from more diverse data sources is essential to the new accounting environment
• Why accounting information must start to speak to what will take place rather than about financial activities that have occurred
• What finance must do in a world of changing risks, data growth, fast digitization, and increased regulation

The author makes a compelling case that accounting now faces a crunch: it needs to reshape itself from the core because conventional financial analysis is proving too cumbersome and slow for executives in digitalized organizations. In a straightforward and illustrated style packed with case studies and practical examples, he shows readers how big data, blockchain, robotic process automation, and artificial intelligence, can help accountants adapt to new realities.

Perfect for finance leaders in both the private and public sectors, Accounting Disrupted also belongs on the bookshelves of accounting students who wish to better prepare for the technological and professional environment in which they’ll shortly find themselves.

About this title

About the Author

AL BHIMANI, PHD, is Professor of Management Accounting at the London School of Economics. He was formerly Head of the Department of Accounting at LSE and Founding Director of LSE Entrepreneurship. He is an internationally sought-after speaker and has written several books, including Management and Cost Accounting (2019).

From the Back Cover

PRAISE FOR ACCOUNTING DISRUPTED

“Automated technologies are changing every area of business. Accounting is playing catch-up because financial reporting, costing, auditing, and information activities are all impacted. Finance professionals need to rethink how to benefit businesses that are digitally transforming. Rich with insights and examples, this book provides a very valuable roadmap for achieving this goal.”
―Srikant Datar, Dean, Harvard Business School

“Digitalization is disrupting everything, even accounting―Al’s book is required reading for all CFOs.”
―Sir Martin Sorrell, Founder and Executive Chairman, S4 Capital plc

“Accounting Disrupted will allow you to see the world of finance through new eyes. The convergence of new technologies is creating a new paradigm for the field―everything we thought we knew comes under question. Better learn the lessons from this book―fast!”
―Kamran Malik, Partner, People Advisory Services, Ernst & Young

“Innovation and agility are at the core of management decision-making today. Al’s book provides a holistic overview of what finance professionals need to know, not only to stay relevant but to lead the conversation.”
―Christopher Locke, Business Lead GS Accelerate, Goldman Sachs

“Few books have the power to shift a whole profession’s modus operandi. This is one of them. Not only is it timely, but it will transform financial management and accountancy.”
―Mthuli Ncube, Minister of Finance and Economic Development, Republic of Zimbabwe; professor, University of Oxford

“A fascinating read filled with eye-opening insights into the move to a digital world and how it is impacting and revolutionizing the way we think about accounting, the finance function, and financial management in general. This is a must-read for CFOs, other C-suite executives, and anyone working in the financial management domain.”
―Anthony Pember, Managing Director, Grant Thornton Public Sector LLC

From the Inside Flap

Digital technologies and intelligent machines are enabling enterprises everywhere to reshape their businesses and the economy at large. With information available at the touch of a button, digitally enabled corporations have become agile, able to swiftly refocus their strategies and resource allocation decisions across the board.

Accounting Disrupted: How Digitalization Is Changing Finance delivers a compelling call to arms for members of the accounting profession to embrace these new technologies and techniques. Al Bhimani―accountant, academic, and author―shows readers why conventional financial analysis is proving itself ineffective in dealing with the information needs of executives in all sorts of organizations. He demonstrates how the new wave of digitalization can help accountants bridge the gap between what traditional accounting provides to executives and what they really need.

Using practical illustrations and extensive case studies, the book illustrates the key challenges facing accounting and audit professionals and identifies effective new ways to meet those challenges. Readers will discover how to use multiple sources of data and information to help them survive and thrive in the new accounting environment.

From big data to blockchain, robotic process automation, and artificial intelligence, the book demonstrates how the finance profession must adapt to and incorporate new digital technologies in order to stay relevant and useful in a changed world.

Perfect for finance leaders in public and private organizations, Accounting Disrupted will also earn a place in the libraries of accounting students who wish to better prepare themselves for the technological and professional challenges they’ll soon face. The book is an insightful treatment of the issues consuming and transforming the worlds of finance and accounting that will be of interest to everyone from mid-level managers to C-suite executives.

Edition details

• Publisher: Wiley
• Publication date: 2021
• Language: English
• ISBN 10: 1119720060
• ISBN 13: 9781119720065
• Binding: Hardcover
• Edition number: 1
• Number of pages: 192