E-ACCOUNTING: CONCEPT, FEATURES, PROSPECTS AND CHALLENGES

Accounting is the backbone of business as it records, analyzes, and communicates financial information for decision-making. Traditional accounting, which relies on manual bookkeeping, is often time-consuming, costly, and prone to errors. With the advent of digital technologies, businesses across the globe have increasingly adopted electronic accounting (e-accounting) as an efficient alternative.

This paper aims to explore the concept, features, benefits, limitations, and prospects of e-accounting. The study is based on a review of existing literature and secondary sources, providing insights into how e-accounting has influenced business efficiency and transformed accounting practices in the digital era. The findings highlight that while e-accounting enhances transparency, accessibility, and cost-effectiveness, it also faces challenges such as data security and system reliability. The paper concludes that e-accounting has immense potential to shape the future of accounting worldwide.