Revolutionizing Accounting for Decision Making
Revolutionizing Accounting for Decision Making

Author: Francis X. Ryan CPA CGMA MBA

Publisher: Xlibris Corporation

Published: 2016-05-13

Total Pages: 141

ISBN-13: 1514483750

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This book combines multiple disciplines of lean and activity-based costing in a practical, easy-to-use way so that leaders can make informed decisions. Most of my life has been dealing with organizations that are in financial distress. Many financial decisions were based upon information that was technically accurate but simultaneously misleading or deceptive. Unfortunately, organizations are making decisions about selling divisions, shutting down product lines, moving facilities, and disrupting peoples lives without a clear understanding of the accuracy and the importance of those decisions. Individuals and their families have seen lives shattered because of suspect information. As a certified public accountant (CPA), we pride ourselves that our responsibility is to the public. We clearly state in our code of ethics that we have a responsibility to the collective well-being of the people that we serve. That is a daunting responsibility. We also have a responsibility to be objective. Objectivity requires us to be impartial, intellectually honest, and free of conflicts of interest and material bias. The principles of lean, activity-based costing, marketing, strategic planning, and traditional financial reporting are combined using existing systems so that decision-makers can be armed with accurate financial information. Activity-based costing is a process-oriented, systematic approach to attribute cost to the activities for which an organization is engaged to accomplish it strategic mission. An understanding of the organizations mission is essential for an accurate understanding of the nature of costs. The entire concept of activity based costing and going lean is designed to support the governance responsibilities of management. Our revolutionary approach to accounting for decision making will result in a rethinking of accounting and information system to enable leaders to make more informed decisions.

Revolutionizing Accounting for Decision Making
Revolutionizing Accounting for Decision Making

Author: Francis X. Ryan

Publisher:

Published: 2016-05-13

Total Pages: 0

ISBN-13: 9781514483732

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This book combines multiple disciplines of lean and activity-based costing in a practical, easy-to-use way so that leaders can make informed decisions. Most of my life has been dealing with organizations that are in financial distress. Many financial decisions were based upon information that was technically accurate but simultaneously misleading or deceptive. Unfortunately, organizations are making decisions about selling divisions, shutting down product lines, moving facilities, and disrupting people's lives without a clear understanding of the accuracy and the importance of those decisions. Individuals and their families have seen lives shattered because of suspect information. As a certified public accountant (CPA), we pride ourselves that our responsibility is to the public. We clearly state in our code of ethics that we have a responsibility to the collective well-being of the people that we serve. That is a daunting responsibility. We also have a responsibility to be objective. Objectivity requires us to be impartial, intellectually honest, and free of conflicts of interest and material bias. The principles of lean, activity-based costing, marketing, strategic planning, and traditional financial reporting are combined using existing systems so that decision-makers can be armed with accurate financial information. Activity-based costing is a process-oriented, systematic approach to attribute cost to the activities for which an organization is engaged to accomplish it strategic mission. An understanding of the organization's mission is essential for an accurate understanding of the nature of costs. The entire concept of activity based costing and going lean is designed to support the governance responsibilities of management. Our revolutionary approach to accounting for decision making will result in a rethinking of accounting and information system to enable leaders to make more informed decisions.

ChatGPT and AI for Accountants
ChatGPT and AI for Accountants

Author: Dr. Scott Dell

Publisher: Packt Publishing Ltd

Published: 2024-06-28

Total Pages: 278

ISBN-13: 1835462251

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Elevate your accounting skills by applying ChatGPT across audit, tax, consulting, and beyond Key Features Leverage the impact of AI on modern accounting, from audits to corporate governance Use ChatGPT to streamline your accounting tasks with practical hands-on techniques Understand the impact of AI in accounting through in-depth chapters covering various domains, including ethical considerations and data analytics Purchase of the print or Kindle book includes a free PDF eBook Book DescriptionIn the fast-paced AI world, accounting professionals are increasingly challenged by the complexities of AI. Many struggle to integrate these advanced tools into their workflows, leading to a sense of overwhelm. ChatGPT for Accounting bridges this gap by not only simplifying AI concepts but also offering practical insights for its application in various accounting domains. This book takes you from the foundational principles of Generative Artificial Intelligence (GAI) to its practical applications in audits, tax planning, practice management, fraud examination, financial analysis, and beyond. Each chapter equips you with essential skills, showing you how AI can revolutionize internal control systems, enhance recruitment processes, streamline marketing plans, optimize tax strategies, and boost efficiency in audits. You’ll then advance to exploring the role of AI in forensic accounting, financial analysis, managerial accounting, and corporate governance, while also addressing ethical and security implications. Concluding with a reflective outlook on the promises and challenges of AI, you’ll gain a holistic view of the future of accounting. By the end of this book, you’ll be equipped with the knowledge to harness the power of AI effectively and ethically, transforming your accounting practice and staying ahead in the ever-evolving landscape.What you will learn Understand the fundamentals of AI and its impact on the accounting sector Grasp how AI streamlines and enhances the auditing process for high accuracy Uncover the potential of AI in simplifying tax processes and ensuring compliance Get to grips with using AI to identify discrepancies and prevent financial fraud Master the art of AI-powered data analytics for informed decision-making Gain insights into seamlessly integrating AI tools within existing accounting systems Stay ahead in the evolving landscape of AI-led accounting tools and practices Who this book is for Whether you're a seasoned accounting professional, a C-suite executive, a business owner, an accounting educator, a student of accounting, or a technology enthusiast, this book provides the knowledge and insights you need to navigate the changing landscape in applying GAI technology to make a difference in all you do. An appreciation and understanding of the accounting process and concepts will be beneficial.

Future-Proof Accounting
Future-Proof Accounting

Author: Mfon Akpan

Publisher: Emerald Group Publishing

Published: 2024-07-19

Total Pages: 273

ISBN-13: 1837978190

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Future-Proof Accounting: Data and Technology Strategies equips accounting students, professors, and industry experts with the knowledge needed to navigate the dynamic realm of accounting.

How We Decide
How We Decide

Author: Jonah Lehrer

Publisher: Houghton Mifflin Harcourt

Published: 2010-01-14

Total Pages: 357

ISBN-13: 0547347480

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The first book to use the unexpected discoveries of neuroscience to help us make the best decisions Since Plato, philosophers have described the decision-making process as either rational or emotional: we carefully deliberate, or we “blink” and go with our gut. But as scientists break open the mind’s black box with the latest tools of neuroscience, they’re discovering that this is not how the mind works. Our best decisions are a finely tuned blend of both feeling and reason—and the precise mix depends on the situation. When buying a house, for example, it’s best to let our unconscious mull over the many variables. But when we’re picking a stock, intuition often leads us astray. The trick is to determine when to use the different parts of the brain, and to do this, we need to think harder (and smarter) about how we think. Jonah Lehrer arms us with the tools we need, drawing on cutting-edge research as well as the real-world experiences of a wide range of “deciders”—from airplane pilots and hedge fund investors to serial killers and poker players. Lehrer shows how people are taking advantage of the new science to make better television shows, win more football games, and improve military intelligence. His goal is to answer two questions that are of interest to just about anyone, from CEOs to firefighters: How does the human mind make decisions? And how can we make those decisions better?

Impact of Digitalization on Reporting, Tax Avoidance, Accounting, and Green Finance
Impact of Digitalization on Reporting, Tax Avoidance, Accounting, and Green Finance

Author: Alqatan, Ahmad

Publisher: IGI Global

Published: 2024-04-01

Total Pages: 376

ISBN-13:

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Digital era reporting undergoes a seismic shift as automation takes center stage. The transition from manual reporting to real-time automated systems enhances precision and efficiency and reduces errors, empowering decision-makers. However, this era of digital reporting brings forth a new set of challenges, from data security and privacy concerns to the imperative need for robust cybersecurity measures. Impact of Digitalization on Reporting, Tax Avoidance, Accounting, and Green Finance delves into this transformative wave, comprehensively exploring its consequences on these critical domains. The book meticulously dissects both the positive and negative repercussions, encapsulating the challenges and opportunities that arise in this era of digital metamorphosis. Navigating tax avoidance in a digitalized world unveils a complex dynamic. Digitalization, on the one hand, empowers tax authorities to access and analyze vast datasets, making it challenging for businesses to engage in tax evasion. On the other hand, sophisticated digital tools provide fertile ground for corporations to devise intricate tax avoidance schemes. Striking a balance becomes paramount, necessitating regulatory measures and international cooperation while addressing ethical dimensions in leveraging technology for tax strategies. The book offers a nuanced understanding of the intricate relationship between digitalization and these critical domains, from business professionals and financial analysts to regulatory bodies and sustainability advocates.

Artificial Intelligence Approaches to Sustainable Accounting
Artificial Intelligence Approaches to Sustainable Accounting

Author: Tavares, Maria C.

Publisher: IGI Global

Published: 2024-04-01

Total Pages: 328

ISBN-13:

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In an age defined by unparalleled technological advancements, globalization, and the looming specter of environmental and societal crises, the need for a holistic and sustainable approach to accounting practices has never been more pressing. Academic scholars stand witness to the challenges posed by the new era, characterized by transformative shifts across industry, education, community, and society at large. These shifts, driven by rapid advancements in Artificial Intelligence (AI), present a double-edged sword. While AI offers unprecedented opportunities for innovation, it also amplifies the urgency of addressing sustainability concerns. Today's society grapples with the immense responsibility of achieving the Sustainable Development Goals (SDGs) outlined in Agenda 2030. It is imperative to not only understand but harness the power of AI to drive sustainability, enhance the quality of life, and ensure sustainable growth on both local and global scales. Artificial Intelligence Approaches to Sustainable Accounting serves as a beacon of knowledge, providing a comprehensive exploration of the intersection between AI, accounting, and sustainability. This book represents a vital solution to the challenges faced by academic scholars and practitioners alike. Within its pages lies a transdisciplinary approach that bridges the gap between these critical fields. Discover how AI can elevate accounting to new heights, extending the spectrum of information in organizational decision-making, promoting responsible reporting practices, and bolstering sustainable practices worldwide. This book not only reviews governance and management processes but also offers practical methodologies that empower organizations to embrace sustainability wholeheartedly.

Organizations and Technology for Sustainability
Organizations and Technology for Sustainability

Author: Elisabetta Magnaghi

Publisher: CRC Press

Published: 2024-12-26

Total Pages: 235

ISBN-13: 1040304729

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This book presents insights on digital transformation with a multidisciplinary lens. Collecting chapters from several management perspectives, it provides perspectives on the role of various concepts and elements that are needed by our organizations to win in today’s competition. This book is a contribution to the organizational, to the information and communication technology (ICT) as well as to the sustainability discussion. Here, the readers can find heterogenous inputs to better understand the organizational and technological aspects considering a sustainable business approach. This book is for academicians, students and practitioners interested in the interplay among IT-based solutions, organizational entities and sustainability issues.

Advances in Management Accounting
Advances in Management Accounting

Author: John Y. Lee

Publisher: Emerald Group Publishing

Published: 2013-07-10

Total Pages: 281

ISBN-13: 1781908435

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Advances in Management Accounting publishes well-developed articles on a variety of current topics in management accounting that are relevant to researchers in both practice and academe. As one of the premier management accounting research journals, AIMA is well poised to meet the needs of management accounting scholars.