The effect of industry 4.0 on accounting

A new era was started with the "Industry 4.0" announced by Germany in 2011. Industry 4.0 contain many sub-headings such as IoT, big data, cloud computing, cyber physical systems, augmented reality, autonomous robots, smart/dark factories and block chains. Industry 4.0 integrates all the factors in the production chain, incessant interaction and communication between machine, sensing sensor, determine needs by collecting and analyzing data by robots. Thus, the production process is planned to be realized in a more qualified, fast, flexible and lower cost production. In this way, a more transparent and interconnected system will be established in many processes during product development. Industry 4.0 is expected to affect many areas of markets and sectors. It is obvious that it will affect / change the accounting profession which is one of these areas. In the processes of collecting data related to customer demands from markets equipped with ERP systems and analyzing these data and deciding on production, efficient and efficient management of the stock cycle through sensors and artificial intelligence; minimizing the amount of error caused by the human during production; pre-control of products to be produced through virtual reality, virtual factory and 3D printers; the analysis of the output obtained from the production and the feedback received from the customers; doing task such as accounting and invoicing of all these transactions through smart systems; allowing real-time reporting by taking instant data from the system; increase the quality and continuity of the audit. it is expected to bring many innovations, convenience and efficiency in accounting. For this reason, in this study, it is aimed to examine the concept of Industry 4.0 and its innovations and present the possible effects on the accounting profession.