Synergizing AI-Powered Analytics with Hybrid Reporting Frameworks: A Revolutionary Advancement in Accounting Finance

Description

Mazvazva Christopher, Nhorito Shadreck, and Shumba Munyaradzi Myron (Midlands State University (MSU) Lecturers in Accounting Science Department, Zimbabwe)

This research endeavors to investigate the convergence of artificial intelligence (AI)-powered analytics and hybrid reporting frameworks, heralding a revolutionary advancement in accounting finance. By synergizing these two domains, the study target to develop a novel framework that leverages AI-driven insights to enhance the quality, relevance, and timeliness of hybrid reporting frameworks. The scope of this research is based on and guided by objectives such as, investigating the current state of AI adoption in accounting finance, developing a novel framework for integrating AI-powered analytics with hybrid reporting frameworks, evaluating the effectiveness of AI-powered analytics in enhancing hybrid reporting quality and to identify the challenges and limitations of implementing AI-driven hybrid reporting. The research also utilizes theories like the accounting theory, information systems theory and stakeholder theory to strengthen the discussion. Moreover, the research employs a mixed-methods approach, i.e., combining systematic literature review, case studies, survey research, and experimental design. Primary and secondary data collection will be enhanced by questionnaires and interviews. The collected data will be processed and analyzed through quantitative, qualitative analysis and machine learning analysis. It is concluded that AI-powered analytics has the potential to revolutionize financial reporting; the challenges and limitations must be addressed and a novel framework is needed to integrate AI-powered analytics with hybrid reporting frameworks. The study recommends that accounting and finance professionals should develop AI skills; on the sidelines the regulators should provide guidance on AI adoption in financial reporting moreover, organizations should invest in AI-driven hybrid reporting and future research should examine the impact of AI on auditing and assurance.