Assoc.Prof.Dr.Cevdet KIZIL and Asst.Prof.Dr. Erol MUZIR, faculty members of the Department of Business Administration, Faculty of Political Sciences of our University, presented the results of their research, in which they examined the impact of the digitalization process experienced as a result of Industry 4.0 and the Covid-19 pandemic on technological product and process innovations in management accounting, with a paper titled “Digitalization in Management Accounting as part of Industry 4.0 and in the process of the Covid-19 Pandemic and Technological Integration of Management Accounting” at the International Eurasia Congress on Scientific Researches and Recent Trends.
In their research, KIZIL and MUZIR mentioned that thanks to the product and process innovations in technology, accounting has taken on an identity integrated with technology, and emphasized that this innovation process has revealed the relationship between accounting and artificial intelligence, the process of accounting and machine learning has been reinforced, accounting and as reporting of intellectual capital, integrated reporting, accounting of cryptocurrencies and cloud accounting issues have come to the fore, concepts such as digitalization have become prominent with the use of technology in accounting education. In this context, the research aimed to analyze digitalization in management accounting and the integration of management accounting with technology within the scope of Industry 4.0 and during the Covid-19 pandemic. The research results revealed that in the context of innovation and Industry 4.0, accounting practices have become faster, more efficient and cost-effective. The researchers stated that digitalization reduces errors and fraud, and at the same time, it supports the formation of transparent institutions by increasing the controllability and comparability of data, thereby providing significant benefits to corporate accountability. Stating that with the pandemic, there have been developments in conducting auditing and consultancy activities remotely, the researchers pointed out that some new accounting and financial frauds have also emerged in this process. For this reason, they stated that in the digitalization process, it is essential for accounting professionals to keep themselves constantly updated by participating in the necessary training processes in the fields of Industry 4.0, digitalization, technology and innovation.
KIZIL and MUZIR pointed out that this development within the sector and the new areas created not only have the effect of reducing poverty by creating new employment opportunities, but also make an important contribution to reducing inequalities for labor force by increasing the employment opportunities for vulnerable groups in the population through flexible working and mobility.