Enhancing Financial Reporting Transparency and Accuracy through Technology-Based Accounting for Business Sustainability
Abstract
This study examines the role of technology-based accounting in enhancing the transparency and accuracy of financial reports, with a focus on its impact on business sustainability. The increasing complexity of financial reporting and the need for more reliable, transparent, and efficient systems make it crucial to understand how technological advancements can improve these processes. The research employs a quantitative approach, using surveys of companies that have implemented various accounting technologies, including cloud-based accounting, ERP systems, and AI tools. Data were analyzed using descriptive statistics, Pearson correlation, and multiple regression techniques to assess the relationship between technology adoption and improvements in financial reporting. The findings reveal that companies adopting cloud-based accounting systems and blockchain have shown significant improvements in both financial transparency and accuracy. AI-driven financial tools also contributed to enhanced accuracy in forecasting and data analysis, although with moderate effects on transparency. Furthermore, the adoption of these technologies was strongly correlated with improved business sustainability, with companies reporting increased investor confidence, profitability, and long-term growth. The study highlights that technology-based accounting significantly contributes to better financial reporting and supports sustainable business practices. These findings suggest that businesses should prioritize adopting advanced accounting technologies to enhance operational efficiency and financial transparency. Future research could focus on exploring strategies to facilitate technology adoption among SMEs and investigate the broader implications of these technologies on corporate governance and stakeholder trust.
Keywords: Technology-based accounting, financial transparency, financial accuracy, business sustainability, cloud-based accounting.
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