A Critical Approach to Accounting in the Digital Era: Assessment of the Impacts of Industry 4.0 on Financials
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Tarih
2020
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Springer
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The Information Age has led to the emergence of Industry 4.0 with rapidly developing technological devices making the data collection process much easier. Industry 4.0, which is also called the Second Machine Age, is expected to shorten the process, reduce margin of error and costs with the inclusion of self-learning robots in the production process. This shift will definitely have an impact on financial statements which depict the performance of a business organization. In addition, the items in a financial statement will undoubtedly change because of the use of virtual money, just-in-time production, and the decreasing role of humans in the production process being replaced by robots. In consequence, the financial analysis ratios will be modified in accordance with the changes in financial statements. This chapter focuses on the effects of Industry 4.0 on financial statements and financial statement analysis from a theoretical perspective. The possible effects of developing information technologies on financial statements and ratio analysis will be discussed. © 2020, Springer Nature Switzerland AG.
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Kaynak
Contributions to Management Science
WoS Q Değeri
Scopus Q Değeri
Q4
