Accounting Disrupted: How Digitalization Is Changing Finance

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 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.

Pages: 192, Edition: 1 armband, Hardcover, Wiley