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A Study on the Transformation of Accounting Based on New Technologies: Evidence from Korea

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  • Sora Yoon

    (School of Business, Ajou University, Suwon 16499, Korea)

Abstract

This study identifies the new accounting technologies into Cloud, Artificial Intelligence, Big Data, and Blockchain, and introduces the case of Korean companies applying new technologies to their accounting process. The purpose of this study is to help understand accounting technologies and provide examples of the adoption of these technologies in actual practice. To achieve this aim of the study, a systematic review of the literature of the major academic publications and professional reports and websites was used as a research methodology. In order to select the cases, it performed the analytical process of reviewing Korean major business and economic newspaper articles. This study provides evidence from Korea to companies contemplating the transformation of their accounting process using technology. Such companies can consider the cases presented in this study as a benchmark. It also offers guidance for the application of technologies to accounting practices for businesses and related researchers. The technology transformation is expected to be accelerated, especially after COVID-19. Therefore, it is necessary to understand and explore ways to effectively apply them. Further, while new technologies offer many opportunities, associated risks and threats should be addressed.

Suggested Citation

  • Sora Yoon, 2020. "A Study on the Transformation of Accounting Based on New Technologies: Evidence from Korea," Sustainability, MDPI, vol. 12(20), pages 1-22, October.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:20:p:8669-:d:431271
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    References listed on IDEAS

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    Cited by:

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    3. Ana Clara Borrego & Francisco Alegria Carreira & Pedro Pardal & Rute Abreu, 2022. "Social Responsibility and SDG 8 during the First Wave of the COVID-19 Pandemic: The Role of Chartered Accountants in Portugal," Sustainability, MDPI, vol. 14(14), pages 1-22, July.
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    5. Julia Siderska, 2021. "The Adoption of Robotic Process Automation Technology to Ensure Business Processes during the COVID-19 Pandemic," Sustainability, MDPI, vol. 13(14), pages 1-20, July.
    6. Khalil Feghali & Joelle Matta & Samir Moussa, 2022. "Digital Transformation of Accounting Practices and Behavior During COVID-19: MENA Evidence," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 21(2), pages 236-269, June.
    7. Anca Antoaneta Vărzaru, 2022. "An Empirical Framework for Assessing the Balanced Scorecard Impact on Sustainable Development in Healthcare Performance Measurement," IJERPH, MDPI, vol. 19(22), pages 1-17, November.
    8. Lena M. M. Zayed & Othman Hussein Othman, 2023. "Effect of blockchain technology in innovating accountants’ skills: a multimethodology study in the industrial companies listed on the Amman Stock Exchange," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-15, December.
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    10. Moisescu Florentina & Moisei Madalina, 2021. "The Future of the Accounting Profession Under the Incidence of Automation," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 276-286.

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