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  • Digitalization of Accounting

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    Tanishk Yadav
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    This document discusses the digitalization of accounting. It outlines how APIs will facilitate business communications, crowd funding may replace traditional financing, and IoT can automate supply chains. It also describes how bots can automate accounting processes through triggers, validate financial statements, and reduce human intervention. Finally, it provides the six step process for deploying an automated audit using analytics, querying records, trend evaluation, ratio analysis, data validation, and red flagging and reporting.

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    Digitalization of accounting

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    This document discusses the digitalization of accounting. It outlines how APIs will facilitate business communications, crowd funding may replace traditional financing, and IoT can automate supply chains. It also describes how bots can automate accounting processes through triggers, validate financial statements, and reduce human intervention. Finally, it provides the six step process for deploying an automated audit using analytics, querying records, trend evaluation, ratio analysis, data validation, and red flagging and reporting.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    18 views6 pages

    Digitalization of Accounting

    Uploaded by

    Tanishk Yadav
    This document discusses the digitalization of accounting. It outlines how APIs will facilitate business communications, crowd funding may replace traditional financing, and IoT can automate supply chains. It also describes how bots can automate accounting processes through triggers, validate financial statements, and reduce human intervention. Finally, it provides the six step process for deploying an automated audit using analytics, querying records, trend evaluation, ratio analysis, data validation, and red flagging and reporting.

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    of 6

    DIGITALIZATION

    OF ACCOUNTING
    INTRODUCTION
     Impact on accounts.
     BOT’s in accounting.
     Capacity Building.
     Deployment of Audit process.
    IMPACT ON ACCOUNTS

     API’s would become mechanism through which the business


    communicates.
     Crowd funding to replace staple finance.
     Receipts would become redundant.
     IOT to automate supply chain.
     Documents would turn into meta data.
    BOT’s IN ACCOUNTING
     Automated process based on triggers.
     Automated financial statements validation.
     Interaction through voice recognition.
     Reduction in human intervention.
     Automated statuory compliances.
    CAPACITY BUILDING
     Understanding Digital Trade.
     Digital Quotient.
     Developing Products.
     Adopting Artificial Intelligence.
    DEPLOYMENT OF AUDIT
    PROCESS
     STEP 1= Analytic.
     STEP 2= Query Records.
     STEP 3= Evaluate Trend.
     STEP 4= Ratio Analysis.
     STEP 5= Data Validation.
     STEP 6= Red Flagging and Reporting.

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