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Evaluating the Impact of Cloud Accounting and AI on Modern Accounting Practices

Chief Editors:  Mr. Irshadullah Asim Mohammed, Dr. Yogesh Mohan Gosavi, and Prof. (Dr.) Vineeta Kaur Saluja

Associate Editor: Mrs. Sruthi S

Co-Editors: Dr. S. Rajeswari, Dr. Nikhil Saini, and Ms. Atreyee Banerjee

ISBN:  978-81-985805-1-1

Chapter: 65

Author: Ms. Shwetha K. R

DOI: https://doi.org/10.59646/mrnc65/321

Abstract

The integration of Artificial Intelligence (AI) with cloud accounting has revolutionized traditional accounting practices, offering enhanced efficiency, accuracy, and real-time financial insights. This paper explores the efficiency of AI in cloud accounting from an accounting perspective, focusing on its role in automating routine tasks, improving financial reporting, and strengthening governance frameworks. Data was collected through structured surveys targeting accounting professionals to evaluate the perceived efficiency of AI-driven solutions. Statistical analyses, revealing that AI significantly improves operational efficiency by reducing manual errors, enhancing audit capabilities, and providing predictive insights. However, challenges remain in achieving transparency and uniformity in financial reporting and compliance management. The findings underscore the need for more specialized and customizable AI-driven accounting solutions to address these gaps. This study contributes to the growing body of knowledge on the transformative impact of AI in accounting, highlighting its potential to reshape the future of financial management.

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