Management Accounting in the Age of AI: Data Transformation, Efficiency, and Modern Decision-Making
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Dec 30, 2023
Keywords:
Artificial Intelligence, Decision, Digital Transformation, Management Accounting, Operational Efficiency
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Articles
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Abstract
The development of artificial intelligence (AI) technology has brought significant changes in management accounting practices. AI not only speeds up the data processing process, but it also improves the accuracy of the information used in planning, control, and decision-making. This article aims to analyze how the integration of AI in management accounting can improve operational efficiency and provide a competitive advantage for organizations in the digital age. The method employed is a literature study, examining the latest research results and modern organizational practices that have adopted AI technology. The findings demonstrate that AI facilitates automated budgeting, data-driven predictive analysis, cost anomaly detection, and enhanced transparency in managerial reporting. However, the application of AI still faces obstacles in the form of a lack of competent human resources, technology investment costs, and data security risks. This article emphasizes the significance of strategic collaboration between technology and accounting in creating a flexible, efficient, and sustainable management system
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How to Cite
Manggu, S. A. R. (2023). Management Accounting in the Age of AI: Data Transformation, Efficiency, and Modern Decision-Making. ProBisnis : Jurnal Manajemen, 14(6), 869–880. Retrieved from https://ejournal.joninstitute.org/index.php/ProBisnis/article/view/1274
References
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Alex Avelar, E., & Jordão, R. V. D. (2024). The role of artificial intelligence in the decision-making process: a study on the financial analysis and movement forecasting of the world’s largest stock exchanges. Management Decision. https://doi.org/10.1108/MD-09-2023-1625
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Cramarenco, R. E., Burcă-Voicu, M. I., & Dabija, D. C. (2023). The impact of artificial intelligence (AI) on employees’ skills and well-being in global labor markets: A systematic review. Oeconomia Copernicana, 14(3), 731–767. https://doi.org/10.24136/oc.2023.022
Duan, Y., Edwards, J. S., & Dwivedi, Y. K. (2019). Artificial intelligence for decision making in the era of Big Data – evolution, challenges and research agenda. International Journal of Information Management, 48, 63–71. https://doi.org/10.1016/j.ijinfomgt.2019.01.021
Dwivedi, Y. K., Sharma, A., Rana, N. P., Giannakis, M., Goel, P., & Dutot, V. (2023). Evolution of artificial intelligence research in Technological Forecasting and Social Change: Research topics, trends, and future directions. Technological Forecasting and Social Change, 192, 122579. https://doi.org/10.1016/j.techfore.2023.122579
Fedyk, A., Hodson, J., Khimich, N., & Fedyk, T. (2022). Is artificial intelligence improving the audit process? Review of Accounting Studies, 27(3), 938–985. https://doi.org/10.1007/s11142-022-09697-x
Fridgeirsson, T. V., Ingason, H. T., Jonasson, H. I., & Jonsdottir, H. (2021). An Authoritative Study on the Near Future Effect of Artificial Intelligence on Project Management Knowledge Areas. Sustainability, 13(4), 2345. https://doi.org/10.3390/su13042345
Hand, C. (2020). Biology and being green: The effect of prenatal testosterone exposure on pro-environmental consumption behaviour. Journal of Business Research, 120, 619–626. https://doi.org/10.1016/j.jbusres.2019.02.034
Hu, K.-H., Chen, F.-H., Hsu, M.-F., & Tzeng, G.-H. (2023). Governance of artificial intelligence applications in a business audit via a fusion fuzzy multiple rule-based decision-making model. Financial Innovation, 9(1), 117. https://doi.org/10.1186/s40854-022-00436-4
Jacob Fernandes França, T., São Mamede, H., Pereira Barroso, J. M., & Pereira Duarte dos Santos, V. M. (2023). Artificial intelligence applied to potential assessment and talent identification in an organisational context. Heliyon, 9(4), e14694. https://doi.org/10.1016/j.heliyon.2023.e14694
Jia, T., Wang, C., Tian, Z., Wang, B., & Tian, F. (2022). Design of Digital and Intelligent Financial Decision Support System Based on Artificial Intelligence. Computational Intelligence and Neuroscience, 2022, 1–7. https://doi.org/10.1155/2022/1962937
Kelly, B., Judge, C., Bollard, S. M., Clifford, S. M., Healy, G. M., Yeom, K. W., Lawlor, A., & Killeen, R. P. (2020). Radiology artificial intelligence, a systematic evaluation of methods (RAISE): a systematic review protocol. Insights into Imaging, 11(1), 133. https://doi.org/10.1186/s13244-020-00929-9
Kelly, B. S., Judge, C., Bollard, S. M., Clifford, S. M., Healy, G. M., Aziz, A., Mathur, P., Islam, S., Yeom, K. W., Lawlor, A., & Killeen, R. P. (2022). Radiology artificial intelligence: a systematic review and evaluation of methods (RAISE). European Radiology, 32(11), 7998–8007. https://doi.org/10.1007/s00330-022-08784-6
Kureljusic, M., & Karger, E. (2024). Forecasting in financial accounting with artificial intelligence – A systematic literature review and future research agenda. Journal of Applied Accounting Research, 25(1), 81–104. https://doi.org/10.1108/JAAR-06-2022-0146
Leitner-Hanetseder, S., Lehner, O. M., Eisl, C., & Forstenlechner, C. (2021). A profession in transition: actors, tasks and roles in AI-based accounting. Journal of Applied Accounting Research, 22(3), 539–556. https://doi.org/10.1108/JAAR-10-2020-0201
Lins, S., Pandl, K. D., Teigeler, H., Thiebes, S., Bayer, C., & Sunyaev, A. (2021). Artificial Intelligence as a Service. Business & Information Systems Engineering, 63(4), 441–456. https://doi.org/10.1007/s12599-021-00708-w
Liu, R., Wang, Y., & Zou, J. (2022). Research on the Transformation from Financial Accounting to Management Accounting Based on Drools Rule Engine. Computational Intelligence and Neuroscience, 2022, 1–8. https://doi.org/10.1155/2022/9445776
Losbichler, H., & Lehner, O. M. (2021). Limits of artificial intelligence in controlling and the ways forward: a call for future accounting research. Journal of Applied Accounting Research, 22(2), 365–382. https://doi.org/10.1108/JAAR-10-2020-0207
Ma, M. (2022). Research on the Development of Hospital Intelligent Finance Based on Artificial Intelligence. Computational Intelligence and Neuroscience, 2022, 1–6. https://doi.org/10.1155/2022/6549766
Mäkitie, A. A., Alabi, R. O., Ng, S. P., Takes, R. P., Robbins, K. T., Ronen, O., Shaha, A. R., Bradley, P. J., Saba, N. F., Nuyts, S., Triantafyllou, A., Piazza, C., Rinaldo, A., & Ferlito, A. (2023). Artificial Intelligence in Head and Neck Cancer: A Systematic Review of Systematic Reviews. Advances in Therapy, 40(8), 3360–3380. https://doi.org/10.1007/s12325-023-02527-9
Melnychenko, O. (2019). Application of artificial intelligence in control systems of economic activity. Virtual Economics, 2(3), 30–40. https://doi.org/10.34021/ve.2019.02.03(3)
Mishra, S., Ewing, M. T., & Cooper, H. B. (2022). Artificial intelligence focus and firm performance. Journal of the Academy of Marketing Science, 50(6), 1176–1197. https://doi.org/10.1007/s11747-022-00876-5
Moll, J., & Yigitbasioglu, O. (2019). The role of internet-related technologies in shaping the work of accountants: New directions for accounting research. The British Accounting Review, 51(6), 100833. https://doi.org/10.1016/j.bar.2019.04.002
Oldemeyer, L., Jede, A., & Teuteberg, F. (2025). Investigation of artificial intelligence in SMEs: a systematic review of the state of the art and the main implementation challenges. Management Review Quarterly, 75(2), 1185–1227. https://doi.org/10.1007/s11301-024-00405-4
Patalas-Maliszewska, J., Szmołda, M., & Łosyk, H. (2024). Integrating Artificial Intelligence into the Supply Chain in Order to Enhance Sustainable Production—A Systematic Literature Review. Sustainability, 16(16), 7110. https://doi.org/10.3390/su16167110
Peng, Y., Ahmad, S. F., Ahmad, A. Y. A. B., Al Shaikh, M. S., Daoud, M. K., & Alhamdi, F. M. H. (2023). Riding the Waves of Artificial Intelligence in Advancing Accounting and Its Implications for Sustainable Development Goals. Sustainability, 15(19), 14165. https://doi.org/10.3390/su151914165
Qiu, J. (2021). Analysis of Human Interactive Accounting Management Information Systems Based on Artificial Intelligence. Journal of Global Information Management, 30(7), 1–13. https://doi.org/10.4018/JGIM.294905
Raisch, S., & Krakowski, S. (2020). Artificial Intelligence and Management: The Automation-Augmentation Paradox. Academy of Management Review, 2018.0072. https://doi.org/10.5465/2018.0072
Ren, J. (2021). Research on Financial Investment Decision Based on Artificial Intelligence Algorithm. IEEE Sensors Journal, 21(22), 25190–25197. https://doi.org/10.1109/JSEN.2021.3104038
Rodgers, W., Murray, J. M., Stefanidis, A., Degbey, W. Y., & Tarba, S. Y. (2023). An artificial intelligence algorithmic approach to ethical decision-making in human resource management processes. Human Resource Management Review, 33(1), 100925. https://doi.org/10.1016/j.hrmr.2022.100925
Sohrabpour, V., Oghazi, P., Toorajipour, R., & Nazarpour, A. (2021). Export sales forecasting using artificial intelligence. Technological Forecasting and Social Change, 163, 120480. https://doi.org/10.1016/j.techfore.2020.120480
Yi, Z., Cao, X., Chen, Z., & Li, S. (2023). Artificial Intelligence in Accounting and Finance: Challenges and Opportunities. IEEE Access, 11, 129100–129123. https://doi.org/10.1109/ACCESS.2023.3333389
Zabala-Vargas, S., Jaimes-Quintanilla, M., & Jimenez-Barrera, M. H. (2023). Big Data, Data Science, and Artificial Intelligence for Project Management in the Architecture, Engineering, and Construction Industry: A Systematic Review. Buildings, 13(12), 2944. https://doi.org/10.3390/buildings13122944
Zeng, Y. (2022). Neural Network Technology-Based Optimization Framework of Financial and Management Accounting Model. Computational Intelligence and Neuroscience, 2022, 1–9. https://doi.org/10.1155/2022/4991244
Zhang, C., Zhu, W., Dai, J., Wu, Y., & Chen, X. (2023). Ethical impact of artificial intelligence in managerial accounting. International Journal of Accounting Information Systems, 49, 100619. https://doi.org/10.1016/j.accinf.2023.100619
Zhang, Y., Xiong, F., Xie, Y., Fan, X., & Gu, H. (2020). The Impact of Artificial Intelligence and Blockchain on the Accounting Profession. IEEE Access, 8, 110461–110477. https://doi.org/10.1109/ACCESS.2020.3000505
Albaladejo-González, M., Ruipérez-Valiente, J. A., & Gmez Mármol, F. (2025). Artificial Intelligence to Support the Training and Assessment of Professionals: A Systematic Literature Review. ACM Computing Surveys, 57(3), 1–29. https://doi.org/10.1145/3699712
Alex Avelar, E., & Jordão, R. V. D. (2024). The role of artificial intelligence in the decision-making process: a study on the financial analysis and movement forecasting of the world’s largest stock exchanges. Management Decision. https://doi.org/10.1108/MD-09-2023-1625
Bahasoan, A. N., Anwar, C., Khaldun, R. I., & Tahawa, T. H. B. (2019). The influence of economic growth on manpower absorption in Central Sulawesi. IOP Conference Series: Earth and Environmental Science, 343(1), 012253. https://doi.org/10.1088/1755-1315/343/1/012253
Cramarenco, R. E., Burcă-Voicu, M. I., & Dabija, D. C. (2023). The impact of artificial intelligence (AI) on employees’ skills and well-being in global labor markets: A systematic review. Oeconomia Copernicana, 14(3), 731–767. https://doi.org/10.24136/oc.2023.022
Duan, Y., Edwards, J. S., & Dwivedi, Y. K. (2019). Artificial intelligence for decision making in the era of Big Data – evolution, challenges and research agenda. International Journal of Information Management, 48, 63–71. https://doi.org/10.1016/j.ijinfomgt.2019.01.021
Dwivedi, Y. K., Sharma, A., Rana, N. P., Giannakis, M., Goel, P., & Dutot, V. (2023). Evolution of artificial intelligence research in Technological Forecasting and Social Change: Research topics, trends, and future directions. Technological Forecasting and Social Change, 192, 122579. https://doi.org/10.1016/j.techfore.2023.122579
Fedyk, A., Hodson, J., Khimich, N., & Fedyk, T. (2022). Is artificial intelligence improving the audit process? Review of Accounting Studies, 27(3), 938–985. https://doi.org/10.1007/s11142-022-09697-x
Fridgeirsson, T. V., Ingason, H. T., Jonasson, H. I., & Jonsdottir, H. (2021). An Authoritative Study on the Near Future Effect of Artificial Intelligence on Project Management Knowledge Areas. Sustainability, 13(4), 2345. https://doi.org/10.3390/su13042345
Hand, C. (2020). Biology and being green: The effect of prenatal testosterone exposure on pro-environmental consumption behaviour. Journal of Business Research, 120, 619–626. https://doi.org/10.1016/j.jbusres.2019.02.034
Hu, K.-H., Chen, F.-H., Hsu, M.-F., & Tzeng, G.-H. (2023). Governance of artificial intelligence applications in a business audit via a fusion fuzzy multiple rule-based decision-making model. Financial Innovation, 9(1), 117. https://doi.org/10.1186/s40854-022-00436-4
Jacob Fernandes França, T., São Mamede, H., Pereira Barroso, J. M., & Pereira Duarte dos Santos, V. M. (2023). Artificial intelligence applied to potential assessment and talent identification in an organisational context. Heliyon, 9(4), e14694. https://doi.org/10.1016/j.heliyon.2023.e14694
Jia, T., Wang, C., Tian, Z., Wang, B., & Tian, F. (2022). Design of Digital and Intelligent Financial Decision Support System Based on Artificial Intelligence. Computational Intelligence and Neuroscience, 2022, 1–7. https://doi.org/10.1155/2022/1962937
Kelly, B., Judge, C., Bollard, S. M., Clifford, S. M., Healy, G. M., Yeom, K. W., Lawlor, A., & Killeen, R. P. (2020). Radiology artificial intelligence, a systematic evaluation of methods (RAISE): a systematic review protocol. Insights into Imaging, 11(1), 133. https://doi.org/10.1186/s13244-020-00929-9
Kelly, B. S., Judge, C., Bollard, S. M., Clifford, S. M., Healy, G. M., Aziz, A., Mathur, P., Islam, S., Yeom, K. W., Lawlor, A., & Killeen, R. P. (2022). Radiology artificial intelligence: a systematic review and evaluation of methods (RAISE). European Radiology, 32(11), 7998–8007. https://doi.org/10.1007/s00330-022-08784-6
Kureljusic, M., & Karger, E. (2024). Forecasting in financial accounting with artificial intelligence – A systematic literature review and future research agenda. Journal of Applied Accounting Research, 25(1), 81–104. https://doi.org/10.1108/JAAR-06-2022-0146
Leitner-Hanetseder, S., Lehner, O. M., Eisl, C., & Forstenlechner, C. (2021). A profession in transition: actors, tasks and roles in AI-based accounting. Journal of Applied Accounting Research, 22(3), 539–556. https://doi.org/10.1108/JAAR-10-2020-0201
Lins, S., Pandl, K. D., Teigeler, H., Thiebes, S., Bayer, C., & Sunyaev, A. (2021). Artificial Intelligence as a Service. Business & Information Systems Engineering, 63(4), 441–456. https://doi.org/10.1007/s12599-021-00708-w
Liu, R., Wang, Y., & Zou, J. (2022). Research on the Transformation from Financial Accounting to Management Accounting Based on Drools Rule Engine. Computational Intelligence and Neuroscience, 2022, 1–8. https://doi.org/10.1155/2022/9445776
Losbichler, H., & Lehner, O. M. (2021). Limits of artificial intelligence in controlling and the ways forward: a call for future accounting research. Journal of Applied Accounting Research, 22(2), 365–382. https://doi.org/10.1108/JAAR-10-2020-0207
Ma, M. (2022). Research on the Development of Hospital Intelligent Finance Based on Artificial Intelligence. Computational Intelligence and Neuroscience, 2022, 1–6. https://doi.org/10.1155/2022/6549766
Mäkitie, A. A., Alabi, R. O., Ng, S. P., Takes, R. P., Robbins, K. T., Ronen, O., Shaha, A. R., Bradley, P. J., Saba, N. F., Nuyts, S., Triantafyllou, A., Piazza, C., Rinaldo, A., & Ferlito, A. (2023). Artificial Intelligence in Head and Neck Cancer: A Systematic Review of Systematic Reviews. Advances in Therapy, 40(8), 3360–3380. https://doi.org/10.1007/s12325-023-02527-9
Melnychenko, O. (2019). Application of artificial intelligence in control systems of economic activity. Virtual Economics, 2(3), 30–40. https://doi.org/10.34021/ve.2019.02.03(3)
Mishra, S., Ewing, M. T., & Cooper, H. B. (2022). Artificial intelligence focus and firm performance. Journal of the Academy of Marketing Science, 50(6), 1176–1197. https://doi.org/10.1007/s11747-022-00876-5
Moll, J., & Yigitbasioglu, O. (2019). The role of internet-related technologies in shaping the work of accountants: New directions for accounting research. The British Accounting Review, 51(6), 100833. https://doi.org/10.1016/j.bar.2019.04.002
Oldemeyer, L., Jede, A., & Teuteberg, F. (2025). Investigation of artificial intelligence in SMEs: a systematic review of the state of the art and the main implementation challenges. Management Review Quarterly, 75(2), 1185–1227. https://doi.org/10.1007/s11301-024-00405-4
Patalas-Maliszewska, J., Szmołda, M., & Łosyk, H. (2024). Integrating Artificial Intelligence into the Supply Chain in Order to Enhance Sustainable Production—A Systematic Literature Review. Sustainability, 16(16), 7110. https://doi.org/10.3390/su16167110
Peng, Y., Ahmad, S. F., Ahmad, A. Y. A. B., Al Shaikh, M. S., Daoud, M. K., & Alhamdi, F. M. H. (2023). Riding the Waves of Artificial Intelligence in Advancing Accounting and Its Implications for Sustainable Development Goals. Sustainability, 15(19), 14165. https://doi.org/10.3390/su151914165
Qiu, J. (2021). Analysis of Human Interactive Accounting Management Information Systems Based on Artificial Intelligence. Journal of Global Information Management, 30(7), 1–13. https://doi.org/10.4018/JGIM.294905
Raisch, S., & Krakowski, S. (2020). Artificial Intelligence and Management: The Automation-Augmentation Paradox. Academy of Management Review, 2018.0072. https://doi.org/10.5465/2018.0072
Ren, J. (2021). Research on Financial Investment Decision Based on Artificial Intelligence Algorithm. IEEE Sensors Journal, 21(22), 25190–25197. https://doi.org/10.1109/JSEN.2021.3104038
Rodgers, W., Murray, J. M., Stefanidis, A., Degbey, W. Y., & Tarba, S. Y. (2023). An artificial intelligence algorithmic approach to ethical decision-making in human resource management processes. Human Resource Management Review, 33(1), 100925. https://doi.org/10.1016/j.hrmr.2022.100925
Sohrabpour, V., Oghazi, P., Toorajipour, R., & Nazarpour, A. (2021). Export sales forecasting using artificial intelligence. Technological Forecasting and Social Change, 163, 120480. https://doi.org/10.1016/j.techfore.2020.120480
Yi, Z., Cao, X., Chen, Z., & Li, S. (2023). Artificial Intelligence in Accounting and Finance: Challenges and Opportunities. IEEE Access, 11, 129100–129123. https://doi.org/10.1109/ACCESS.2023.3333389
Zabala-Vargas, S., Jaimes-Quintanilla, M., & Jimenez-Barrera, M. H. (2023). Big Data, Data Science, and Artificial Intelligence for Project Management in the Architecture, Engineering, and Construction Industry: A Systematic Review. Buildings, 13(12), 2944. https://doi.org/10.3390/buildings13122944
Zeng, Y. (2022). Neural Network Technology-Based Optimization Framework of Financial and Management Accounting Model. Computational Intelligence and Neuroscience, 2022, 1–9. https://doi.org/10.1155/2022/4991244
Zhang, C., Zhu, W., Dai, J., Wu, Y., & Chen, X. (2023). Ethical impact of artificial intelligence in managerial accounting. International Journal of Accounting Information Systems, 49, 100619. https://doi.org/10.1016/j.accinf.2023.100619
Zhang, Y., Xiong, F., Xie, Y., Fan, X., & Gu, H. (2020). The Impact of Artificial Intelligence and Blockchain on the Accounting Profession. IEEE Access, 8, 110461–110477. https://doi.org/10.1109/ACCESS.2020.3000505