Financial reporting has evolved over centuries in distinct stages. The first reports (Reporting 1.0) were the trial balances ensuring that debits equaled credits, using the terminology popularized by Pacioli. The next major innovation was formalized in the Great Depression, with Reporting 2.0 being the standardized and audited financial statements. Reporting 3.0 evolved as technology was used to augment that reporting process with ERP-based data and XBRL. Today, technology is still relying on the automation of existing processes in Reporting 3.0. This paper proposes the move to Reporting 4.0, where technology will change reporting as fundamentally as Industry 4.0 is changing business operations. What characterizes Reporting 4.0 is the application of the intelligence inherent in 21st-century technology to create an app-based reporting system characterized by mass customization: the ability for reports to be tailored to meet the needs of the heterogeneous stakeholder community of the multi-objective modern enterprise.
{"title":"Reporting 4.0: Business Reporting for the Age of Mass Customization","authors":"Michael G. Alles, Jun Dai, M. Vasarhelyi","doi":"10.2308/JETA-10764","DOIUrl":"https://doi.org/10.2308/JETA-10764","url":null,"abstract":"\u0000 Financial reporting has evolved over centuries in distinct stages. The first reports (Reporting 1.0) were the trial balances ensuring that debits equaled credits, using the terminology popularized by Pacioli. The next major innovation was formalized in the Great Depression, with Reporting 2.0 being the standardized and audited financial statements. Reporting 3.0 evolved as technology was used to augment that reporting process with ERP-based data and XBRL. Today, technology is still relying on the automation of existing processes in Reporting 3.0. This paper proposes the move to Reporting 4.0, where technology will change reporting as fundamentally as Industry 4.0 is changing business operations. What characterizes Reporting 4.0 is the application of the intelligence inherent in 21st-century technology to create an app-based reporting system characterized by mass customization: the ability for reports to be tailored to meet the needs of the heterogeneous stakeholder community of the multi-objective modern enterprise.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":"18 1","pages":"1-15"},"PeriodicalIF":1.8,"publicationDate":"2021-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44663614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Over the past several years, there have been numerous calls by the accounting profession, advisory boards and the American Accounting Association to increase the incorporation of data analytics and related tools into the accounting curriculum. While the calls have been loud and clear for “what” needs to be included in the accounting curriculum, the accounting programs have struggled with “how” to incorporate data analytics. This paper describes how one Master of Accounting Program (MAC) modified its graduate accounting program in a unique way to incorporate data analytics. Led by faculty, the changes were identified and implemented within nine months. Additionally, data analytics was implemented throughout the program, rather than as a stand-alone class. While not a lasting solution, it enabled the MAC Program to incorporate substantive changes into the program in a quick and efficient manner, pending a more extensive revision of the MAC curriculum.
{"title":"Incorporating Data Analytics into a Graduate Accounting Program","authors":"D. Showalter, Kathy Krawczyk","doi":"10.2308/JETA-2020-065","DOIUrl":"https://doi.org/10.2308/JETA-2020-065","url":null,"abstract":"Over the past several years, there have been numerous calls by the accounting profession, advisory boards and the American Accounting Association to increase the incorporation of data analytics and related tools into the accounting curriculum. While the calls have been loud and clear for “what” needs to be included in the accounting curriculum, the accounting programs have struggled with “how” to incorporate data analytics. This paper describes how one Master of Accounting Program (MAC) modified its graduate accounting program in a unique way to incorporate data analytics. Led by faculty, the changes were identified and implemented within nine months. Additionally, data analytics was implemented throughout the program, rather than as a stand-alone class. While not a lasting solution, it enabled the MAC Program to incorporate substantive changes into the program in a quick and efficient manner, pending a more extensive revision of the MAC curriculum.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46560721","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper reviews a case study used as part of introducing data and analytics in a Masters of Accounting curriculum. In particular, this paper presents a data set, an approach to analyzing that data using analytic approaches and suggests that analysis of that data set could function as a capstone project, providing a review over multiple data and analytical tools and methodologies. The data set includes almost 50,000 purchase orders and allows the use of multiple data analytic approaches for anomaly detection, time series analysis and visualization to meet audit goals such as identification of unusual or significant items, determination of trends and concentration of purchasing activity.
{"title":"Purchase Order “Analytic Audit”","authors":"D. O’Leary","doi":"10.2308/JETA-2020-010","DOIUrl":"https://doi.org/10.2308/JETA-2020-010","url":null,"abstract":"This paper reviews a case study used as part of introducing data and analytics in a Masters of Accounting curriculum. In particular, this paper presents a data set, an approach to analyzing that data using analytic approaches and suggests that analysis of that data set could function as a capstone project, providing a review over multiple data and analytical tools and methodologies. The data set includes almost 50,000 purchase orders and allows the use of multiple data analytic approaches for anomaly detection, time series analysis and visualization to meet audit goals such as identification of unusual or significant items, determination of trends and concentration of purchasing activity.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42968979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We present a data cleaning project that utilizes real vendor master data of a large public university in the United States. Our main objective when developing this case was to identify the areas where students need guidance in order to apply a problem solving approach to the project. This includes initial analysis of the data and the task at hand, planning for cleaning and testing activities, executing this plan, and communicating the results in a written report. We provide a data set with 29K records of vendor master data, and a subset of the same data with 800 records. The assignment has two parts - the planning and the actual cleaning, each with its own deliverable. It can be used in many different courses and completed with almost any data analytics software. We provide suggested solutions and detailed solution notes for Excel and for Alteryx Designer.
{"title":"Vendor Master Data Cleaning – a Project for Accounting Class","authors":"Sonia Gantman, Lorrie Metzger","doi":"10.2308/JETA-2020-028","DOIUrl":"https://doi.org/10.2308/JETA-2020-028","url":null,"abstract":"We present a data cleaning project that utilizes real vendor master data of a large public university in the United States. Our main objective when developing this case was to identify the areas where students need guidance in order to apply a problem solving approach to the project. This includes initial analysis of the data and the task at hand, planning for cleaning and testing activities, executing this plan, and communicating the results in a written report. We provide a data set with 29K records of vendor master data, and a subset of the same data with 800 records. The assignment has two parts - the planning and the actual cleaning, each with its own deliverable. It can be used in many different courses and completed with almost any data analytics software. We provide suggested solutions and detailed solution notes for Excel and for Alteryx Designer.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44939624","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-27DOI: 10.2308/JETA-19-11-14-46
N. Vincent, Stephan A. Davenport
During recent years, cryptocurrency has gained the attention of many large companies such as Facebook, Expedia, Apple, and Overstock to name a few. The acceptance and use of cryptocurrency in business transactions can have a major impact on a company's accounting system. However, accounting research exploring issues related to cryptocurrencies is sparse. Therefore, we identify research questions that the accounting profession should address concerning cryptocurrencies. We categorize these research questions using Rogers' theory of diffusion of innovation in an attempt to encourage and extend accounting research in cryptocurrencies to influence the design, development, adoption, implementation, and operation of the technology. We recommend that researchers take a more prescriptive approach to research, rather than a descriptive approach, given that cryptocurrency is in the infancy stage of development and adoption.
{"title":"Accounting Research Opportunities for Cryptocurrencies","authors":"N. Vincent, Stephan A. Davenport","doi":"10.2308/JETA-19-11-14-46","DOIUrl":"https://doi.org/10.2308/JETA-19-11-14-46","url":null,"abstract":"During recent years, cryptocurrency has gained the attention of many large companies such as Facebook, Expedia, Apple, and Overstock to name a few. The acceptance and use of cryptocurrency in business transactions can have a major impact on a company's accounting system. However, accounting research exploring issues related to cryptocurrencies is sparse. Therefore, we identify research questions that the accounting profession should address concerning cryptocurrencies. We categorize these research questions using Rogers' theory of diffusion of innovation in an attempt to encourage and extend accounting research in cryptocurrencies to influence the design, development, adoption, implementation, and operation of the technology. We recommend that researchers take a more prescriptive approach to research, rather than a descriptive approach, given that cryptocurrency is in the infancy stage of development and adoption.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42384240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This case introduces accounting students to data management using a “no code” approach. Many tools can be used for extract, transform, load (ETL) processes. Herein, we introduce ETL using Alteryx Designer, a market-leading tool for managing and manipulating data. In the case, students learn basic data cleaning and joining skills, explore key data management concepts including workflows and metadata, and learn how to create and document workflows in Alteryx. Undergraduate or graduate accounting students with basic database knowledge (e.g., in an introduction to accounting systems class) and data processing will benefit from the case. Evidence from use suggests that the case is relevant, challenging, and useful for the goal of teaching introductory and intermediate-level ETL skills, using Alteryx. The case is easy to implement and an important resource for teaching data management and Alteryx Designer.
{"title":"A Case Study in Managing the Analytics “Iceberg”: Data Cleaning and Management using Alteryx","authors":"Ann O’Brien, D. Stone","doi":"10.2308/JETA-2020-037","DOIUrl":"https://doi.org/10.2308/JETA-2020-037","url":null,"abstract":"This case introduces accounting students to data management using a “no code” approach. Many tools can be used for extract, transform, load (ETL) processes. Herein, we introduce ETL using Alteryx Designer, a market-leading tool for managing and manipulating data. In the case, students learn basic data cleaning and joining skills, explore key data management concepts including workflows and metadata, and learn how to create and document workflows in Alteryx. Undergraduate or graduate accounting students with basic database knowledge (e.g., in an introduction to accounting systems class) and data processing will benefit from the case. Evidence from use suggests that the case is relevant, challenging, and useful for the goal of teaching introductory and intermediate-level ETL skills, using Alteryx. The case is easy to implement and an important resource for teaching data management and Alteryx Designer.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44935720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-01-15DOI: 10.2308/JETA-19-09-03-38
Lin Wang
I use computational linguistic techniques to study the content, determinants, and stock market consequences of conference calls that are not held in conjunction with quarterly earnings releases (hereafter, non-earnings conference calls). I find that large firms, loss firms, firms with more volatile earnings and returns, and firms with complex operations and a greater number of analysts following hold more non-earnings conference calls. Firms with volatile earnings and greater operational complexity discuss more earnings, investment, and market-related topics in non-earnings conference calls. These results are consistent with the notion that firms facing greater informational problems hold more non-earnings conference calls. I also find that controlling for other disclosure types, non-earnings conference calls incrementally explain quarterly abnormal stock returns, suggesting that they indeed help improve firms' information environment.
{"title":"Non-Earnings Conference Calls: Content, Determinants, and Consequences","authors":"Lin Wang","doi":"10.2308/JETA-19-09-03-38","DOIUrl":"https://doi.org/10.2308/JETA-19-09-03-38","url":null,"abstract":"I use computational linguistic techniques to study the content, determinants, and stock market consequences of conference calls that are not held in conjunction with quarterly earnings releases (hereafter, non-earnings conference calls). I find that large firms, loss firms, firms with more volatile earnings and returns, and firms with complex operations and a greater number of analysts following hold more non-earnings conference calls. Firms with volatile earnings and greater operational complexity discuss more earnings, investment, and market-related topics in non-earnings conference calls. These results are consistent with the notion that firms facing greater informational problems hold more non-earnings conference calls. I also find that controlling for other disclosure types, non-earnings conference calls incrementally explain quarterly abnormal stock returns, suggesting that they indeed help improve firms' information environment.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47755732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the future impact of digitalisation on auditing by synthesising empirical studies, relating them to surveys conducted by accounting bodies, and analysing these findings in relation to extant literature. Based on the synthesis, this study proposes a transitional framework to enable the audit profession to remain competitive. The results show that digitalisation may significantly affect the audit profession in the future. However, the impact is likely to be incremental rather than radical. To remain competitive, the audit profession needs to adopt new metrics, capabilities, skills and evolve its business models to incorporate digital technologies. The contribution of this study is multi-faceted. The propositions and research agenda presented in this study will be beneficial to academics, practitioners, audit regulators, and the general public as they have the potential to form a foundation for addressing future research questions and for the theorisation and empirical testing of audit digitalisation.
{"title":"The Impact of Digitalisation on Future Audits","authors":"L. Fotoh, J. Lorentzon","doi":"10.2308/JETA-2020-063","DOIUrl":"https://doi.org/10.2308/JETA-2020-063","url":null,"abstract":"This study examines the future impact of digitalisation on auditing by synthesising empirical studies, relating them to surveys conducted by accounting bodies, and analysing these findings in relation to extant literature. Based on the synthesis, this study proposes a transitional framework to enable the audit profession to remain competitive. The results show that digitalisation may significantly affect the audit profession in the future. However, the impact is likely to be incremental rather than radical. To remain competitive, the audit profession needs to adopt new metrics, capabilities, skills and evolve its business models to incorporate digital technologies. The contribution of this study is multi-faceted. The propositions and research agenda presented in this study will be beneficial to academics, practitioners, audit regulators, and the general public as they have the potential to form a foundation for addressing future research questions and for the theorisation and empirical testing of audit digitalisation.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47196479","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The COVID-19 pandemic has had an unprecedented impact on the sports industry, affecting activities from professional sports to the 2020 Summer Olympics It has wreaked havoc on the sports calendar, causing a number of events to be canceled or postponed This study proposes a methodology by which the sports industry can assess public perceptions and responses in social media to gain important insights that can be used to craft effective crisis management strategies Using machine learning approaches in order to extract hidden patterns in tweets could assist practitioners in creating and implementing crisis communication strategies for mitigating the impact of COVID-19
{"title":"A Methodology for the Sport Industry to Capture Public Perceptions and Responses in the Time of COVID-19","authors":"Yen-Yao Wang, T. Wang, Kyunghee Yoon","doi":"10.2308/JETA-2020-058","DOIUrl":"https://doi.org/10.2308/JETA-2020-058","url":null,"abstract":"The COVID-19 pandemic has had an unprecedented impact on the sports industry, affecting activities from professional sports to the 2020 Summer Olympics It has wreaked havoc on the sports calendar, causing a number of events to be canceled or postponed This study proposes a methodology by which the sports industry can assess public perceptions and responses in social media to gain important insights that can be used to craft effective crisis management strategies Using machine learning approaches in order to extract hidden patterns in tweets could assist practitioners in creating and implementing crisis communication strategies for mitigating the impact of COVID-19","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44288434","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ouadie Akaaboune, Leslie H. Blix, Linda G. Carrington, Cassy Henderson
Distance education allows educators, with the use of technology, to deliver curriculum to students who are separated from their instructors. As higher education evolves, enrollment in distance education continues to present challenges of academic dishonesty. Proctoring services can provide educators with a practical and cost effective approach to reduce academic dishonesty in accounting programs. This study examines the effects of online proctoring programs on students’ exam performance in an online accounting course. Our findings show lower exam performance when proctoring services are used, consistent with a reduction in academic dishonesty. More importantly, we show that proctoring affects lower performing students’ exam performance more than higher performing students. These results have implications for accounting faculty in designing accounting courses, which can be delivered through a distance learning approach while maintaining the academic integrity and rigor demanded by the accounting profession.
{"title":"Accountability in Distance Learning: The Effect of Remote Proctoring on Performance in Online Accounting Courses","authors":"Ouadie Akaaboune, Leslie H. Blix, Linda G. Carrington, Cassy Henderson","doi":"10.2308/JETA-2020-040","DOIUrl":"https://doi.org/10.2308/JETA-2020-040","url":null,"abstract":"Distance education allows educators, with the use of technology, to deliver curriculum to students who are separated from their instructors. As higher education evolves, enrollment in distance education continues to present challenges of academic dishonesty. Proctoring services can provide educators with a practical and cost effective approach to reduce academic dishonesty in accounting programs. This study examines the effects of online proctoring programs on students’ exam performance in an online accounting course. Our findings show lower exam performance when proctoring services are used, consistent with a reduction in academic dishonesty. More importantly, we show that proctoring affects lower performing students’ exam performance more than higher performing students. These results have implications for accounting faculty in designing accounting courses, which can be delivered through a distance learning approach while maintaining the academic integrity and rigor demanded by the accounting profession.","PeriodicalId":45427,"journal":{"name":"Journal of Emerging Technologies in Accounting","volume":" ","pages":""},"PeriodicalIF":1.8,"publicationDate":"2021-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42545894","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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