Question

Question 1

The vision of Unilever Ghana Limited is to gain a competitive superiority over its competitors in the same industry in Ghana.

Required:

a. Using practical examples, discuss how the emerging accountancy tool that applies cognitive intelligence to generate a mental image of a phenomenon and also relies on learning, be adopted to assist Unilever Ghana Limited to achieve this vision.

b. Are there any obstructions to how this competitive superiority using this emerging accountancy tool could be harnessed by Unilever Ghana Limited?

NB: Use the Artificial Intelligence to answer these questions

Answer 1

Answer:

a) It will help Unilever Ghana Ltd to use the emerging accounting tools which use the cognitive intelligence also known as Artifical intelligence like in the companies there are lot of contracts other financial relevant documents which need to be analysed and scrutinised so with the help of the new tool this can be translated into digital information and for analysing an automated creation of meaningful text can be used to find out if there are suspicious activites

Instead of humans doing the physical inventory drones can be used , Imaging technology can be used to look at storage tanks , classification of transactions can be done by using inductive reasoning like email newsletter tool used to provide marketing and promotion can be classified as advertising spend. employee newsletter can be classified as employee under Employee Expenses ,Automation of data entry tasks.

With the help of cognitive technology data from various sources can be consolidated and merged thus not only fastening the process but also providing accurace data whick will help in closing monthly and quarterly closure faster as a result the management would get time and data to plan the companies strategies.

Procurement involves lot of paperwork and filework with the help of new tool the systems can be integrated so that untructured data too can be processed and stored easily and even the data of vendors along with their prices'supply can be easily tracked and found

Accounts Payable/Receivable : with the help of new accounting tool a proper workflow of the invoices received or sent can be done in the digital format as well special coding for each type of vendor,client can be generated so that the process of Accounts Payable and Receivable is streamlined and even the intimation of the payment date to be paid/received can be generated in the system so that on time the receipt/payments are done

Expenses made can be reviewed and ensured it as per the company policy or not with the help of the new accounting tool

Many Common queries can be resolved with the help of cognitive technology such as what are the bank account balance , status on any accounts, inventory management , reimbursement of expenses

b) Potential checks to how this serious prevalence utilizing this developing bookkeeping device could be bridled by Unilever Ghana Limited:

1. The usage of the bookkeeping instrument may be moving attributable to protection from change from the Company's own specialists who have been familiar with a specific method of bookkeeping all as the years progressed.

2. Money related assets is a glaring element which may affect the usage, incase the organization doesn't have a lot of capital data transmission to fund the new rising instrument

3. Vulnerability that whether the business framework and procedures are equivalent with the new apparatus or are the progressions to be made simple to execute

4. Information security and straightforwardness issues, digital security issues ought to be managed

5. Aside from the usage part, when Unilever Ghana Ltd begins utilizing this apparatus to deal with its bookkeeping activities, other industry friends and adversaries may fire replicating this thought and think of comparative instrument which will at last lead to no advantages by means of serious predominance.

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