Drones in Accounting.pptx

1. Accounting with drones
Dhruv GV Kaley (23COMD22)
1st sem B.com D
2023-24
Teammates: Saranya NS (23COMD52)
Saniya S (23COMD50)
Deny Vijay V (23COMD20)

2. ACCOUNTING
WITH DRONES
Accounting
with drones
introduction

3. How Accountant Use Drone Technology to the
Accounting Profession?
Technological advancements
have significantly changed the
accounting and auditing profession
in recent years.
the emergence of drone technology
has revolutionized the accounting and
auditing profession. Drones have opened
up new possibilities for accountants to
perform their tasks more efficiently and
effectively.
Emerging technologies like AI,
blockchain, big data, the IOT, and
drone technology have
revolutionized accounting
profession
For example, accounting and audit
firms that work with clients in
mining and inventory can utilize
drone technology to take
thousands of pictures and
measurements of a site
Also, this can help in accurate
assessments, making physical
tasks easier to perform

4. What are the Benefits of Drone Technology to the
Accounting and Audit profession?
1.Revenue
Recognition
Asset valuation and
Verification
Accuracy
Time-efficiency and
effectiveness
Save Cost Speed
Productivity
Reduce
the risk of
injury
Monitoring
strategies

5. Benefits
Perform physical inventory: Drone could recount inventory if required-data feed repeatedly into audit app that re-performs the
process. Using drones to automate livestock inventory count reduced count time from 681 hours to 19 hours
◦ Asset valuation and Verification: Visually inspect the asset for impairment, safety is not an issue.
◦ Time-efficiency and effectiveness: Drone devices help to improve and increase effectiveness and efficiency in the accounting
and auditing profession.
◦ Accuracy: Produce accurate data that can be relevant for future forecast and planning. It depend on how accountant use drone
technology to collect insight into the condition of assets. This is faster, cheaper, safer and more accurate than traditional
methods
◦ Save Cost: Drones may save money for accounting clients, who can use them for stock takes, mapping, safety monitoring and to
inspect bridges and building.
◦ Productivity: It can enhance productivity
◦ Also, Reduce the risk of injury: he benefit in health and safety as the need for someone to climb over the coal pile are removed.
◦ Speed: Helps speed up some business and accounting processes.
◦ Monitoring strategies . Help monitor staff, operation and some dangerous zone. For instance, drones can assist the firm or staff
to take account area difficult to reach.
◦ Storage of Long-term data: Moreover, drone methods allow for storage of long-term data. This is useful to account for physical
factors (like weather, light conditions and geomorphology of the beach) for more spatio-temporal analysis.

6. Advantages
Drone
Delivery
System
Drones will
help farmers
Disadvantages
Drone
technology
can be hacked
Technical
Glitches

7. Advantages
Drone Delivery System
• Drone technology has transformed ways of conducting business.
As mankind drives more towards modernization, Drone technology
will have numerous applications in daily lives. Amazon has already
announced to use of Drone technology to ship consumer products
Drones will help
farmers
• Drones are of great use in agriculture as farmers can use them to
monitor crops and protection from wild animals. Crop diseases and
infestation are the worst of nightmares for farmers. Drones can be
coupled with sprayers, cameras, and even speakers to drive wild
animals away from the farmland.
• Walking through fields and keep an eye on all the activities is
almost impossible for anyone who owns hectares of space to
cover. The drone technology not only saves time but also saves
resources used in Agricultural activities. Apart from businesses, the
Agriculture sector will have numerous advantages of drones.

8. Disadvantages
Drone technology can
be hacked
• Vulnerability to hackers is one of the major disadvantages of drones,
whether it's military operations or business use. Drones run on
programmed instructions and algorithms. The navigation and flight
operations are only possible because of the internet system.
• Hackers can easily attack a drone's central control system and become
the drone's original controller. They may acquire full control of UAVs
without the knowledge of the original controller. Hackers can also
retrieve private information, corrupt or damage the files, or even leak
data to unauthorized third parties.
Technical Glitches
• Lithium-ion batteries, sensors, weight, and atmospheric pressure are
too much to bear for a drone. In addition, an inexperienced pilot may
be more dangerous as they have to avoid possible obstacles in mid-air.
• Software or hardware malfunctions come as the biggest cons of
drones that carry ammunition as it may cause numerous casualties.
Drones are still in the process of improvement to limit accidents that
can compromise the safety of human lives.