THE IMPACT OF ARTIFICIAL INTELLIGENCE ON MANAGEMENT ACCOUNTING FUNCTIONS
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ABSTRACT:
This research explores the impact of artificial intelligence (AI) on management accounting functions in Lagos State, Nigeria. The objectives are to: (1) assess how AI enhances the accuracy and efficiency of management accounting activities, (2) evaluate its impact on decision-making processes, and (3) analyze the challenges of integrating AI into management accounting. A survey design was employed to collect data from financial managers and IT specialists. The sample size, determined using Taro Yamane's formula, ensures statistical significance. Access Bank Plc was chosen as the case study due to its advanced use of AI in accounting processes. The reliability coefficient score of the survey was 0.93. Findings reveal that AI significantly improves the accuracy, efficiency, and decision-making processes in management accounting. However, challenges such as technology integration and staff training were noted. It is recommended that companies in Lagos State invest in AI technologies and provide continuous training to fully leverage the benefits of AI in management accounting.
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