A Study on Impact of Digital Accounting on the Small and Medium Scale Business in Odisha

The world has been consistently witnessing changes because of the radical movements of technology popularly termed as “Digital Evolution”. This process of digitization has also covered the field of accounting. It changes the traditional accounting system in to a modern one under the name Digital Accounting. This new form of accounting represents several aspects of accounting enriched with value added technology. Adoption of digital format by the industries and business houses for maintaining accounting records has contributed a number of welcome changes in the field of accounting starting from bookkeeping to different other aspects. It has encouraged most of the business firms to move towards adopting the digital form of accounting for their respective business. This current paper is made with a well-defined purpose of evaluating the impact of the digital accounting system on small and medium scale business firms operated within the geographical boundaries of Odisha State. For meeting the predefined objective, data collection has been performed using possible sources including both primary and secondary. There are a number of statistical tools that have been used for drawing inferences from the collected data from respondents. Finally, it is found that people are not that much aware of the digital accounting system and this transformation process which has remained a hindrance for its well acceptance and wide acceptance in the market especially in the small and medium scale industries sector.