Analyzing Adaptation of Accounting and Finance in Retail Sector in Industry 4.0 (Cyber-Physical Systems – CPS)

The business has gone through numerous evolutionary stages. However, the current industry 4.0 revolution promises a huge revamp of the business processes and the way the businesses are conducted. This paper analyses the adaptation of Accounting and Finance in retail sector in Industry 4.0 (Cyber-Physical Systems – CPS). It has been concluded that the accounting has also been impacted and especially in retail sector. It has changed significantly and industry would need more expertise and knowledge of soft-wares, analytical skills, leadership, economics, globalization and internationalization effects of the firms and a lot more. Similarly, block-chains would help collect and keep large volumes of information with its numerous types more quickly. The digital production and acquisition of data would positively affect the accountants and auditors.