Technology, innovation, and accounting

Technological progress and innovation continuously reshape business models and operations. In response, accounting must adapt to fulfill its function. As firms evolve along technological advancements, accounting must ensure the provision of reliable, relevant, and timely information to stakeholders. However, the shift from a manufacturing- to a knowledge-based economy, paired with rapid technological change, challenges traditional accounting practices. While these practices adequately reflected operations in a manufacturing economy, today’s emphasis on intangible assets requires adaptation. Designed primarily for tangible assets, providing reliable, relevant, and timely information about intangible assets is a challenge for financial reporting.

At the same time, globalization and heightened competition pressure firms to innovate. To retain or gain a competitive edge, firms increasingly use technology to automate repetitive tasks. This technology adoption changes workforce structures and costs, requiring managers to adjust their decision-making.

Beyond adapting accounting practices, technology and innovation are transforming accounting processes. Tools such as robotic process automation and cloud-based technologies enable faster, more informed internal decision-making and external reporting. Generative artificial intelligence introduces low-cost capabilities that can help generate and refine financial reporting.

As technology advances, the accountant’s role has also changed. Automation of routine tasks shifts the focus to strategic and analytical roles, demanding technological proficiency and data literacy. Accounting education must address this shift, both to attract talent to the profession and to equip future accountants with essential skills. Technology plays a dual role in mastering this challenge: mobile learning can help engage students and integrating technology into curricula ensures they develop necessary skills.

Recognizing the impact of technology and innovation on accounting practices, processes, and the profession, this thesis comprises five articles on the interplay of technology, innovation, and accounting. The first two focus on managerial decision-making, while the last three explore integrating technology into accounting education.