Financial Accounting
AI and Accounting: How Artificial Intelligence Is Reshaping the Finance Function
This study note introduces artificial intelligence and its applications in accounting at foundation level, covering key concepts including machine learning, robotic process automation, natural language processing, and predictive analytics. It explains how AI operates within accounting functions such as accounts payable, audit, and financial forecasting, using a worked example to illustrate efficiency gains, risk reduction, and role transformation. The note equips accounting students to distinguish between AI technologies, identify their limitations, and understand the enduring importance of professional judgement in an automated environment.