The Future of Accounting: Efficacy of Big Data on Accountant’s Functions in the Accounting Information Systems

Abstract

Before the advent of big data, accounting operations were performed mainly using historical and structured data. The emergence, however, introduced the use of big data to enhance and complement functions in the accounting information system, which improves the real-time and effective management of accounting data for varying uses of stakeholders. This study examined the efficacy of big data on accountant’s functions in the accounting information system in Nigeria. The study utilised survey research design method by administering structured Likert scaled questionnaire. This study was rooted in resource-based view theory and agency theory. The targeted population and the sample size was 283, which comprised accountants with experience in information systems. A purposive sampling technique was adopted to determine the respondent. The collected data were analysed using descriptive statistics and regression analysis. The empirical findings revealed that big data proxied with prescriptive analytics, predictive analytics, machine learning, and the Hadoop ecosystem had significant but negative effect on accountant’s functions in accounting information systems in Nigeria. This suggests that although these technologies are relevant and influential, their integration may be challenging or counterproductive to accountants' traditional roles. The negative effect could be due to factors like complexity, the need for new skill sets, inefficiencies in system adaptation, or resistance to change, which may hinder the effectiveness of accountants in fully leveraging these technologies within their work processes. This study concluded that while big data has the potential to significantly enhance accounting information systems, its integration into the accounting profession in Nigeria has been problematic. It was recommended that organizations should invest in comprehensive training programs for accountants, focusing on developing the necessary skills to handle big data tools effectively.