Chapter 4

PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA

The chapter presents the interpretation, presentation, and analysis of the data, and

responses provided by the respondents. It also includes the result presented in the table. The

data presented are the result of the conducted survey.

I. Profile of the Respondents. This part presents the demographic profile of the respondents

in terms of the number of years working in the field of accounting and job position.

Table 1

Respondents’ Profile of Number of years working in the field

No. of years working Frequency Percentage

1 year - 3 years 4 13.33%
3 years - 6 years 7 23.33%
6 years - 9 years 1 3.33%
9 years above 3 10.00%
N/A 15 50.00%
TOTAL 30 100.00%

Based on the table, out of the 30 individuals, the majority (50%) did not provide

information about the number of years they have worked in the field, which means that they

have no prior experience in the workforce. Among those who did provide information, the

largest group (23.33%) worked in the field for 3-6 years, followed by 13.33% who worked

for 1-3 years. Only 3.33% worked in the field for 6-9 years, and 10% worked for 9 or more

years.

However, most of the respondents who are employees have been working in their

respective institutions for quite a long time as they still remain even after 3-6 years of

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working. It could be an indication that businesses, banks and companies that they are working

on have better management and good opportunities that give them both professional and self-

satisfaction.

It is important to note that the sample size is relatively small, and the data may not be

representative of the entire population. Additionally, the large proportion of individuals who

did not provide information about the number of years they have worked in the field limits

the overall conclusions that can be drawn from the data.

Table 2

Job Position of the Respondents

Job Position Frequency Percentage

Accounting Student 15 50.00%
Practicing Accountant 1 3.33%
Accounting Educator 1 3.33%
Bank Teller/Employee 5 16.67%
Bookkeeper 2 6.67%
Auditor 1 3.33%
Human Resource 1 3.33%
Senior Financial Accountant 1 3.33%
Accounting Professional 1 3.33%
Cashier 1 3.33%
Government Employee 1 3.33%
TOTAL 30 100.00%

The table shows the frequency and percentage distribution of job positions of 30

individuals. The majority of individuals (50%) are accounting students, while the rest of the

job positions have lower frequencies, ranging from 1 to 5 individuals.

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 The second most common job position is bank teller/employee, which accounts for

16.67% of the total sample. This is followed by bookkeeper (6.67%), and auditor, human

resource, senior financial accountant, accounting professional, and cashier (each accounting

for 3.33% of the total sample). Practicing accountants, accounting educators, and government

employees each account for 1 individual or 3.33% of the total sample.

This suggests that the majority of respondents who are employees worked as bank

tellers, who frequently use computers to access customer accounts and to carry out teller

duties like transferring, depositing, and withdrawing cash. It could be an indication that

artificial intelligence (AI) will be strongly encouraged to be used by bank tellers for better

and easier ways of conducting transactions and that bank tellers may soon be replaced by it.

Table 3

People's knowledge on Artificial Intelligence in the field of Accounting

Weighted Verbal
Statements
Mean Interpretation
1. I believe that it is important for accounting 3.4 Strongly Agree
professionals to have a basic understanding of AI.
2. I think AI can improve accounting processes. 3.2 Agree
3. I know the potential benefits and risks of using 3.1 Agree
AI in accounting
4. I have enough knowledge of the concept of 2.9 Agree
Artificial Intelligence in Accounting.
5. I have worked with AI tools or software in the 2.6 Agree
accounting field
Composite Mean 3.040 Agree
Legend: 3.25 - 4.00 = Strongly Agree; 2.50 - 3.24 = Agree; 1.75 - 2.49 = Disagree; 1.00 -
1.74 = Strongly Disagree

The table presents data on people's knowledge of artificial intelligence (AI) in the

field of accounting.

Based on the table, the weighted mean for item 1 is 3.4, indicating that most

respondents strongly agree that it is important for accounting professionals to have a basic

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understanding of AI. This mean is in the "strongly agree" category. In relation to the study of

Carmona and Li (2019), it highlights the need for education and training programs that

provide accounting professionals with more in-depth knowledge about AI's technical aspects

and ethical implications. This includes understanding how AI algorithms work, the possibility

of prejudice, and the requirement for openness and accountability in AI systems. The study

also suggests that efforts to increase awareness and understanding of AI should target

professionals at different levels of seniority and across different job roles.

The weighted mean for item 5 is 2.6, indicating that most respondents agree that they

have worked with AI tools or software in the accounting field. However, the mean is closer to

the "disagree" category than the "agree" category. This result can be an indication that most

of the respondents or accounting professionals currently are not fully aware of using different

AI tools.

Overall, the composite mean of 3.040 indicates that respondents generally agree that

they have some knowledge of AI in accounting. However, the mean is closer to the "agree"

category than the "strongly agree" category. In conclusion, the data suggest that most

respondents have some knowledge of AI in accounting and agree that it can improve

accounting processes and that it is important for accounting professionals to have a basic

understanding of AI. However, there is still some room for improvement in terms of

respondents' knowledge and experience with AI tools and software in the accounting field.

Table 4
Possible risks and challenges associated with the continued innovation towards the
accounting profession
Verbal
Items Weighted Mean
Interpretation
1. Over reliance on automated accounting
procedures can create a dependence on 3.57 Strongly Agree
technology, potentially leading to disruption.

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 2. Implementing automation technologies can be
3.5 Strongly Agree
expensive in one accounting industry.
3. Automation can sometimes result in errors
3.4 Strongly Agree
and inaccuracies.
4. With more automation and use of technology
comes an increased risk of cyber threats such as 3.3 Strongly Agree
data breaches and hacking.
5. I believed that AI could replace human
1.97 Disagree
accountants.
Composite Mean 3.147 Agree

Legend: 3.25 - 4.00 = Strongly Agree; 2.50 - 3.24 = Agree; 1.75 - 2.49 = Disagree; 1.00 -
1.74 = Strongly Disagree

This part presents how respondents are highly aware that there are possible risks and

challenges associated with continued innovation in the accounting profession.

Based on the table, the respondents agreed with those statements above with a

computed composite mean of 3.147, which falls within the "agree" category. This indicates

that respondents believed that some significant risks and challenges need to be carefully

considered and managed to ensure that the continued innovation towards AI-based

accounting systems does not have unintended negative consequences for the accounting

profession.

Specifically, the respondents viewed that over-reliance on automated accounting

procedures can create a dependence on technology, potentially leading to disruption by

strongly agreeing on it with the highest weighted mean of 3.57. This suggests that

professionals in the accounting industry should be cautious about relying too heavily on

automation. Over-reliance on technology is another issue that enterprises must deal with,

according to Taha 2020. Although computer software can produce accurate financial

assessments, the success of these technologies depends heavily on the ability of the staff to

write computer instructions that are clear and concise. Also, experts are better able to

recognize operational irregularities like software crashes quickly and find suitable remedies.

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 Lastly, the statement being disagreed by the respondents that AI could replace human

accountants got a lowest weighted mean of 1.97. It implies that while automation may replace

some accounting tasks, there is still a need for human accountants to provide specialized

expertise and oversight. This was somehow related to the discussion of Tucker (2017) that

automation and CPAs' roles, responsibilities, and contributions will improve rather than being

completely replaced by artificial intelligence. Also, automation will change their

responsibilities rather than necessarily their occupations.

In summary, the data suggest that continued innovation in the accounting profession

through automation and technology can bring benefits, but also carries significant risks and

challenges that should be carefully evaluated and addressed through appropriate risk

management strategies.

Table 5
Current state of AI in the accounting industry regarding its potential to automate
accounting tasks
Weighted Verbal
Items
Mean Interpretation
1. AI technologies can enhance the quality of financial
4 Strongly Agree
reporting and auditing.
2. AI can help reduce the time and effort required to
3.17 Agree
complete accounting tasks.
3. AI in the accounting industry will impact the quality of
3.13 Agree
financial data and decision-making processes.
4. I clearly foresee the main challenges in the adoption
3.10 Agree
and implementation of AI in the accounting industry.
5. I am confident in the accuracy of the AI-driven
2.73 Agree
automation of accounting tasks.
Composite Mean 3.227 Agree
Legend: 3.25 - 4.00 = Strongly Agree; 2.50 - 3.24 = Agree; 1.75 - 2.49 = Disagree; 1.00 -
1.74 = Strongly Disagree

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 The table presents the results of a survey regarding the current state of AI in the

accounting industry. The respondents were asked to rate their level of agreement with several

statements about AI's potential to automate accounting tasks.

Specifically, respondents strongly agree that AI technologies can enhance the quality

of financial reporting and auditing with the highest weighted mean 4. In which it conforms to

the idea of Hajiheydari, Ahmadi, and Abdoli (2020), that the integration of AI technologies in

financial reporting and auditing is that AI can assist in detecting fraudulent activities,

anomalies, and inconsistencies in financial data, which is essential for ensuring the integrity

of financial reporting. Furthermore, AI technologies can enhance the efficiency and

effectiveness of auditing processes, reduce the potential for human error, and provide insights

into previously undetected risks.

Lastly, the accuracy of the Artificial Intelligence driven automation of tasks is the

least that has a weighted mean of 2.73 which falls under the “Agree” category. The result also

conforms to the study of Hajiheydari, Ahmadi, and Abdoli (2020) that Artificial Intelligence

can improve the accuracy, reliability, and speed of financial information processing, leading

to enhanced financial reporting quality.

Overall, the composite mean of 3.227 suggests that respondents generally agree that

AI can be beneficial for the accounting industry. However, there are some concerns about the

accuracy of AI-driven automation and its impact on decision-making processes. It is also

worth noting that respondents perceive challenges in the adoption and implementation of AI

in the industry.

Table 6
Role of education technology in preparing accountants for the increasing use of AI in
the profession
Weighted Verbal
Items
Mean Interpretation

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 1. Education technology can be effective in
preparing accountants for the increasing use of AI 3.47 Strongly Agree
in the profession.
2. It is important for accounting education to
3.30 Strongly Agree
incorporate training on AI and related technologies.
3. I believe that the increasing use of AI in the
accounting profession will have an impact on the 3.23 Agree
skills required of accountants.
4. Education technology helps me to learn about AI
and related technologies in the accounting
profession. Education technology helps me to learn 3.17 Agree
about AI and related technologies in the accounting
profession.
5. I have personally used education technology to
learn more about AI and related technologies in the 2.87 Agree
accounting profession.
Composite Mean 3.207 Agree
Legend: 3.25 - 4.00 = Strongly Agree; 2.50 - 3.24 = Agree; 1.75 - 2.49 = Disagree; 1.00 -
1.74 = Strongly Disagree

As shown by the table, a composite mean score for all the items is 3.207, which

indicates that the participants, on average, agreed that education technology plays a role in

preparing accountants for the increasing use of AI in the profession. It means that using

technology in education can be helpful for accountants to learn about and prepare for the

increasing use of AI in their profession. It implies that education technology can play a role

in equipping accountants with the necessary knowledge and skills to adapt to the evolving

demands of the profession in the face of increased use of AI.

The first item received the highest score of 3.47, indicating that the majority of

participants strongly agreed that education technology can be effective in preparing

accountants for the increasing use of AI in the profession. This suggests that the participants

recognize the importance of incorporating technology into accounting education and believe

that technology-based approaches can be effective in enhancing accounting education and

preparing future accountants to work with AI and related technologies. IFAC (2018) indicated

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that education technology can help accountants acquire the skills needed to work with AI. The

study recommends that accounting education include hands-on experience with AI tools and

software to help students understand how to use them in real-world scenarios.

Furthermore, Personally used education technology to learn more and AI and related

technologies in the accounting profession which respondents agreed with the weighted mean

of 2.87. It means that these educational technologies will be useful in their efforts to learn

more about AI and related technologies in the accounting profession. Association of

Chartered Certified Accountants (ACCA) (2019) discusses the benefits of using education

technology to enhance the learning experience of accounting students. The study suggests

that technology such as online learning platforms and simulation tools can provide students

with a more engaging and interactive learning experience, better preparing them for using Al

in their future careers.

Based on the data presented in Table 6, it can be concluded that the majority of the

participants agreed or strongly agreed that education technology plays a role in preparing

accountants for the increasing use of AI in the profession. Specifically, the participants

strongly agreed that education technology can be effective in preparing accountants for the

increasing use of AI in the profession, and that it is important for accounting education to

incorporate training on AI and related technologies.