Title: The impact of artificial intelligence in accounting: application in SMEs

Authors: Vitor Nóbrega; Renato Lopes da Costa; Rui Gonçalves; Álvaro Dias; Leandro Pereira; Klaus Dorner

Addresses: ISCTE – Instituto Universitário de Lisboa, Av das Forças Armadas, 1600-076 Lisbon, Portugal ' Business Research Unit – BRU-IUL, ISCTE – Instituto Universitário de Lisboa, Av das Forças Armadas, 1600-076 Lisbon, Portugal ' PIAGET Almada, Av Jorge Peixinho 30, 2805-059 Almada, Portugal ' Universidade Lusófona de Humanidades e Tecnologias, Campo Grande 376, 1749-024 Lisboa, ISCTE – Av das Forças Armadas, 1600-076, Lisbon, Portugal ' BRU-Business Research Unit, ISCTE – Instituto Universitário de Lisboa, Av das Forças Armadas, 1600-076 Lisbon, Portugal ' Business Case Institute, Av das Forças Armadas, 1600-076 Lisbon, Portugal

Abstract: The adoption of artificial intelligence technologies in the accounting services and profession was recently introduced in the market, forcing professionals to work with data management and shift to a new paradigm. The research analyses the capabilities and benefits of artificial intelligence in accounting in SMEs. A qualitative approach was used, with the analysis of 20 interviews. Among the various conclusions of this work, we highlight the premise of replacing the human element in the execution of accounting operations and the lack of capacity of SMEs in being able to incorporate AI systems into their accounting departments due to their reduced financial capacity. However, our recommendations propose to academic institutions and training programs a lot of initiatives to prepare the future of this important field and adopt the AI paradigm.

Keywords: accounting; artificial intelligence; small and medium-sized enterprise; SMEs.

DOI: 10.1504/IJEF.2023.129923

International Journal of Electronic Finance, 2023 Vol.12 No.2, pp.192 - 214

Received: 25 Apr 2022
Accepted: 17 Aug 2022
Published online: 03 Apr 2023 *

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