nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2024‒04‒15
three papers chosen by

  1. Study of the Impact of the Big Data Era on Accounting and Auditing By Yuxiang Sun; Jingyi Li; Mengdie Lu; Zongying Guo
  2. Efficient Economic Rent Taxation under a Global Minimum Corporate Tax By Mr. Shafik Hebous; Andualem Mengistu
  3. The DSK-SFC stock-flow consistent agent-based integrated assessment model By Severin Reissl; Luca E. Fierro; Francesco Lamperti; Andrea Roventini

  1. By: Yuxiang Sun; Jingyi Li; Mengdie Lu; Zongying Guo
    Abstract: Big data revolutionizes accounting and auditing, offering deep insights but also introducing challenges like data privacy and security. With data from IoT, social media, and transactions, traditional practices are evolving. Professionals must adapt to these changes, utilizing AI and machine learning for efficient data analysis and anomaly detection. Key to overcoming these challenges are enhanced analytics tools, continuous learning, and industry collaboration. By addressing these areas, the accounting and auditing fields can harness big data's potential while ensuring accuracy, transparency, and integrity in financial reporting. Keywords: Big Data, Accounting, Audit, Data Privacy, AI, Machine Learning, Transparency.
    Date: 2024–03
  2. By: Mr. Shafik Hebous; Andualem Mengistu
    Abstract: The international agreement on a corporate minimum tax is a milestone in global corporate tax arrangements. The minimum tax disturbs the equivalence between otherwise equivalent forms of efficient economic rent taxation: cash-flow tax and allowance for corporate equity. The marginal effective tax rate initially declines as the statutory tax rate rises, reaching zero where the minimum tax is inapplicable, and increases thereafter. This kink occurs at a lower statutory rate under cash-flow taxation. We relax the assumption of full loss offset; provide a routine for computing effective rates under different designs; and discuss policy implications of the minimum tax.
    Keywords: Investment; Minimum Taxation; Corporate Tax Reform; International Taxation; Rent Tax; ACE; Effective Tax Rate
    Date: 2024–03–15
  3. By: Severin Reissl; Luca E. Fierro; Francesco Lamperti; Andrea Roventini
    Abstract: We present an updated, stock-flow consistent version of the 'Dystopian Schumpeter meeting Keynes' agent-based integrated assessment model. By embedding the model in a fully specified accounting system, all balance sheet items and financial flows can be explicitly and consistently tracked throughout a simulation. This allows for an improved analysis of climate change and climate policy scenarios in terms of their systemic implications for agent and sector-level balance sheet dynamics and financial stability. We provide an extensive description of the updated model, representing the most detailed outline of a model from the well-established 'Keynes + Schumpeter' family available to date. Following a discussion of calibration and validation, we present a range of example scenarios.
    Keywords: Climate change; Agent-based models; Integrated assessment
    Date: 2024–03–25

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NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.