Understanding the Changing Role of the Management Accountant in the Age of Industry 4.0 in Germany

Currently, business processes are undergoing a transformation through digitalization. In the course of this development, “Industry 4.0” also has an impact on management accounting and IT systems. By promising technical development and improvement of management accounting processes, the conventional roles are challenged and the introduction of new occupational fields is prognosticated. However, in theory and practice, the impact of industry 4.0 (I4.0) on management accounting has not been considered adequately so far. Against this background, the primary goal of this study is to investigate the implications of I4.0 on management accounting by means of a triangulation approach. The results of expert interviews, a literature review and an analysis of job advertisements provide an overview on the development of competencies of Management Accountants (MA) in Germany. The results have highlighted a closer cooperation of MA and Data Scientists. Additionally, there will be a shift from traditional analysis towards statistical analysis methods

Expectations and Standards for Accounting Professions and Implications in the Learning Pattern in Industrial 4.0

This paper talks about the impact from the commercial transformation 4.0 on accounting scientific research and accounting education and learning patterns. The commercial transformation can be turbulent and make development throughout accounting scientific research and designs from accounting knowing or education and learning in the future. To ensure that the adjustment needs from accounting professionals and trainees that are taking accounting research studies are required to have the ability to instantly adapt to the instructions from modifications in market 4.0 that are currently operating. It‘s anticipated that accounting will modification to "huge information" based upon accounting innovation, consisting of automation from journaling and monetary coverage. Besides, using Synthetic Knowledge will be huge in analysis monetary declarations and examining the behavior from companies or business. Consequently, this impacts the knowing patterns from representing trainees that will place much more focus on grasping info systems regarding the real truth from business glob

Industry 4.0 and accounting: directions, challenges, opportunities

The purpose of the study was to reveal the directions, challenges and opportunities that arise in the accounting system in the conditions of Industry 4.0, when innovative solutions based on the capabilities of new digital technologies become the management of in-demand enterprises. The role of Industry 4.0 is shown, the features of modern Industry 4 technologies are revealed, the main technologies and production processes are demonstrated, interconnected using industrial protocols to create intelligent data. The rating of digital competitiveness and their readiness to implement Industry 4.0 technologies for 64 countries of the world is given and analyzed. These factors hinder the process of digitalization in countries with a low rating. The influence of Industry 4.0 on the accounting system is determined and the technologies affected by the fourth industrial revolution in terms of accounting (Big Data or Data Analytics, Cloud Computing, AI, Blockchain, Internet of Things (IoT), Robotic Process Automation) and changes waiting for the profession of accountant. The coordination of efforts of business, education and the state in the context of the development of Industry 4.0 technologies was noted

Challenges and Prospect to Islamic Accountants Take on Industrial Revolution 4.0.

The purpose of this study is to provide an overview of the challenges and expectations of Islamic accountants in the industrial revolution era 4.0. This study uses a literary approach, by examining several references relating to the industrial revolution 4.0 relating to Islamic accountants. Theories in research use theories related to the industrial revolution 4.0 and related theories related to collaborative Islamic accounting including Popkoya et all theory IR and Iwan Triyuwono's theory SA.  The results of this paper that the Era of the industrial revolution 4 which offers convenience and speed makes people turn into super-fast. Technology is used and developed to accelerate the achievement of every goal set by humans. In the end, the material and psychological needs become inevitable to be forgotten, it will only increase. Professional accountants and Islamic accountants need a pattern of self-management of the basic functions of Islamic accountants and accountants which certainly increases the efficiency and effectiveness of work and the results are immediately known (real-time). The findings of this study include the challenges of Islamic accounting in the face of the industrial revolution including the provision of information that is financial and non-financial IT-based, accountability of financial statements in accordance with SAK Sharia is the main basis for policy makers, Sharia accountants must understand the development of IT-based economics and be able to harmonize conflicts of interest by following the development of information technology. The expectation of Islamic accountants in facing the industrial revolution can be accepted and has the knowledge and skills of IT-based SAK Sharia and can apply digital-based technology, Islamic Accountants always want to innovate in technology development and Islamic accountants are always adaptive in economic and technological development and always want to learn throughout tim

Technical Competencies Required by Accountants: An Analysis of Accounting Job Advertisements

The changing of business environment raises the question about the priority skills that are needed by the labour market in Indonesia. This study focuses on technical competencies in accounting education by exploring the company's point of view. This study aims to determine the technical competencies needed by accountants through analysis of accounting job advertisements. This study uses content analysis on 612 online job vacancies. The data was then tested differently using the non-parametric Kruskal Wallis test. The findings of this study indicated that information technology and financial reporting skills are the most needed technical competencies by companies. Specifically, the skills that should be mastered by accountants are the skills to use Microsoft office packages and prepare company financial reports. In addition, this study found that there are differences in the need for accounting technical competencies in each job position. The results of this study are expected to provide insight and self-reflection to accounting graduates regarding the technical competencies needed to enter the world of work, so that accounting graduates can fit themselves with the required skills so that they can easily be accepted in the desired job

In NVivo Veritas: How Information Systems Increase the Flexibility and Relevance of Strategic Management Accounting

One of the key tasks for strategic management accountants is to estimate the size of the market in which their firm operates. For such an estimation to be correct, strategic management accountants need to have access to private information from the firm’s competitors. Such access is impossible since no competitor is willing to share internal documents, resulting in a problem of imperfect information. This problem hinders strategic management accountants’ efforts to perform their main tasks, forcing them to just approximate the size of their firms’ markets. In this paper we show how, by applying text analysis techniques to publicly available documents from their firm’s competitors, strategic management accountants can significantly increase the accuracy of their forecasts. This increased accuracy implies that the use of techniques from the Information Systems (IS) field can help mitigating the thus far unsolvable problem of imperfect information from which the strategic management accounting field has traditionally suffered

The fourth industrial revolution in the light of social and competence changes

Purpose: The aim of the article is to review the literature on the changes that the Fourth Industrial Revolution brings in terms of competence requirements at the workplace or the characteristics of professions. The article also focuses on changes in the sector related to finance or accounting in general. Design/Methodology/Approach: The objectives are achieved due to a systematic literature review of Fourth Industrial Revolution’s outcomes, which leave their mark on job and competence requirements. Findings: The article introduces the concepts of the Fourth Industrial Revolution and the problem of new requirements that are placed and will be placed on employees in the labour market, which is currently characterized by considerable volatility. New technologies are completely changing the competence requirements for labour market participants, which can also bring about significant social changes. Practical Implications: The article can be seen as a clue to scientists as to the existing gaps in the description of the social consequences of the Fourth Industrial Revolution. The conducted literature analysis allows to identify areas that need to be investigated more closely. In addition, the article draws attention to the need for a deeper description of the requirements placed on employees in the financial area and, consequently, the need to adapt curricula in this area. Originality/Value: Nowadays, people and organizations have to deal with complexity of economic environment. This complexity, which is the result of Industry 4.0, requires continuous adaptation, shaping and development of competences. This article approximates the characteristics and importance of the social side of the changes by showing the direction in which labour market participants should develop.peer-reviewe

A study of the Irish paradigm of disclosure of financial information to employees

This study examines the case for the disclosure of financial information to employees of enterprises in the Republic of Ireland. A case for the justification of such disclosure within the Decision Usefulness approach is established. Through literature review, analysis and empirical study, the Irish paradigm of disclosure to employees, insofar as it has developed to date, is described. Current disclosure practice in major Irish enterprises is established, and 'local' characteristics are identified. It is hypothesized that local characteristics have a significant relationship to the disclosure/non-disclosure patterns of financial information to employees by Irish enterprises. Factors which emerge as having a significant relationship to disclosure of financial information to employees are the existence of employee participation in the enterprise and the holding of a positive attitude to disclosure by the enterprise's financial accountant. The conclusion of the study is that in order to promote the development of Ireland's paradigm of disclosure, the attitude of the financial accountant should be strengthened and the creation of a participatory environment should be advanced and supported. Because of the nature of the accountants' attitude towards disclosure of financial information to employees, the educators and trainers of accountants are in a strong position to strengthen attitudes of accountants, and thereby to contribute to the advancement of disclosure to employees in Ireland