MANAGEMENT ACCOUNTING: THE LATEST TECHNOLOGIES, CHATGPT CAPABILITIES

Abstract

This study aims to examine the impact and potential of the latest technologies, particularly ChatGPT, in the dynamic field of management accounting. The focus is on understanding how these technologies influence efficiency, accuracy, and decision-making processes. To achieve this objective, the study employs a two-pronged approach. First, it utilizes differential equations for mathematical modelling to predict and analyze the influence of ChatGPT on productivity and cost dynamics in management accounting. Second, it conducts an empirical survey with 200 accounting professionals to gather insights on the practical use, benefits, and challenges associated with ChatGPT. The findings reveal significant insights into the efficiency and accuracy enhancements brought by ChatGPT, along with its predictive capabilities in various management accounting tasks. The mathematical model highlights the dynamic nature of technology adoption, while the survey results underscore the practical realities and perceptions of accounting professionals regarding AI technologies. The study concludes with valuable insights into how ChatGPT and similar AI technologies can revolutionize management accounting practices, offering both theoretical and practical benefits. These findings are crucial for organizations considering the integration of AI into their accounting practices and for professionals aiming to stay abreast of technological advancements in the field.