A REVIEW OF ADVANCED ACCOUNTING TECHNIQUES IN US ECONOMIC RESILIENCE

Authors

  • Beryl Odonkor McKinsey and Company, Texas, USA
  • Simon Kaggwa Department of Finance, Hult International Business School, Boston MA, USA
  • Prisca Ugomma Uwaoma Department of Finance, Hult International Business School Boston, USA
  • Azeez Olanipekun Hassan Focal Point Associates and Company, Lagos, Nigeria
  • Oluwatoyin Ajoke Farayola Financial Technology and Analytics Department, Naveen Jindal School of Management. Dallas, Texas, USA

DOI:

https://doi.org/10.51594/farj.v6i1.722

Abstract

This research paper explores the transformative impact of advanced accounting techniques on US economic resilience. Analyzing trends, challenges, and future trajectories, the paper delves into integrating cutting-edge technologies, including artificial intelligence and blockchain. The regulatory framework's role in shaping accounting practices and the emerging focus on Environmental, Social, and Governance (ESG) reporting are discussed. While highlighting the promises of enhanced decision-making and transparency, the paper acknowledges challenges like data privacy concerns. Conclusively, the research underscores the pivotal role advanced accounting plays in fortifying economic resilience, providing insights for businesses navigating a dynamic and interconnected global financial landscape.

Keywords:  Advanced Accounting, Economic Resilience, Artificial Intelligence, Blockchain Technology, Regulatory Framework, ESG Reporting.

Published

2024-01-15

Issue

Section

Articles