CamEd Business Review

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CamEd Business Review (CB Review) is an online publication of CamEd Business School. It targets original manuscripts on ideas relevant to emerging matters in management, finance, accounting, marketing, business law, tax, audit, business communication, human resources management. CB Review welcomes interdisciplinary topics which are immediately useful to those in the board rooms, CEOs, CFOs and other members of the management. Meant to become a quick and meaningful resource, CB Review typically welcomes manuscripts by actual practitioners and academics, written in a style which is user-friendly and appealing to the greater public. We aim to publish two Issues per year. We may likely publish more often in the future. As a service to the author(s), we fully commit to finalizing the whole process within thirty days from the submission date. Please send your manuscripts and questions to the Editor-In-Chief at: [email protected]

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Author: search.filters.author.Edman Flores, MBA, CPAEnd date: 2024

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    Beyond the Numbers: How AI Empowers Accountants for Strategic Impact
    (CamEd Business School, 2024-06-30) Edman Flores, MBA, CPA
    The Evolving Role of Accountants: Historically, the duties of accountants mainly involved maintaining financial records, reconciling accounts, and preparing financial reports. While these responsibilities remain critical, the role of accountants has evolved considerably. Nowadays, accountants are expected to provide strategic financial advice to businesses. They assist in establishing financial goals, crafting budgets, and developing growth strategies. Accountants play an important role in organizational strategic planning and decision-making, extending their expertise beyond financial reporting to strategic management accounting (SMA). SMA takes a broader business perspective and informs strategic decision- making. The changing business environment and the introduction of new techniques have prompted management accountants to adopt a business orientation and strategic approach. In addition, accountants actively participate in risk management efforts. They assess financial risks, identify vulnerabilities, and devise strategies to counter potential threats. Through this proactive approach, businesses can safeguard themselves from unforeseen financial crises. Accountants are also involved in financial forecasting, which helps businesses plan ahead. They use historical financial data and market analysis to forecast financial trends and recommend budget adjustments.