The Digitalization of Accounting in Modern Business: An Analytical Pedagogy Through Benefits and Challenges of Digitalization

Abstract

The digital revolution has permeated various industries, and accounting is no exception. This article presents a comprehensive review of the digitalisation of accounting in modern business. This study explores the impact of digitalisation on accounting practices, highlighting the benefits, challenges, and implications for businesses. Additionally, it offers insights into adopting digital accounting technologies in different industrial sectors. The samples were collected from 140 accounting experts among 14 districts in Kerala through the convenience sampling method. Digital accounting technologies have revolutionised the accounting landscape, offering numerous benefits and opportunities for organisations. These technologies can transform traditional accounting practices, improve efficiency, accuracy, and decision-making capabilities, and enhance financial management.The findings contribute to understanding how digitalisation reshapes the accounting landscape and provide recommendations for organisations seeking to leverage these technologies effectively.