Value of Big Data and the Rapid Flow of Information to Modern Accountants (Research Proposal Sample)

Value of Big Data and the Rapid Flow of Information to Modern Accountants
By Student’s Name
Course Code
University Name
City, State
Date
Value of Big Data and the Rapid Flow of Information to Modern Accountants
1 Introduction
Defining financial accounting, Kaya and Akbukut (2018) identify it as a system through which the recording of data occurs in addition to storage, retrieval, summarising, analysis, and presentation. Evolution of the field of data has taken shape with significant improvements in the area of data management. In the field of accounting, these improvements have enhanced the work of accountants, contributing to better management of data and analysis. Part of the changes in the field of accounting has included the shunning of the traditional data handling methods, where they were replaced with big data and data analytics. The handling of responsibilities of accountants has also been eased with the introduction of big data, providing a reliable information and communication approach that has enhanced data management. Commitment towards providing reliable data in accounting with better reporting avenues has also contributed towards embracing of big data and the value it adds to accounting. Changing customer needs have played a role in the inclusion of big data. Increasing demand for real-time data handling and assessments to support financial reporting, as indicated by Kaya and Akbukut (2018), has facilitated the development of big data in accounting. Data visualisation has also increased the reason for the adoption of big data (Perkhofer et al. 2019).