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lvzm0afp8kik5dctxiyaIn my view, even though some accountants may not agree, big data will effect how accounting is done. This is particularly true for management accounting.

I was going to write an outline of my thoughts on big data and management accounting, but I found this great post on diginomica. It gives some really good practical insights. It notes how the following, for example, gets accountants interested in big data- it is being used to:

  • Improve the quality of budgets, plans and forecasts
  • Enhance top line revenue
  • Reduce operational costs
  • Detect fraud
  • Assess the viability of a company as an on-going concern