Dark Factories from an Industry 4.0 Perspective: Its Effects on Cost Accounting and Managerial Accounting

Abstract

In accordance with the Industry 4.0 perspective that the developing and developed countries have focused on recently, accounting profession and members of this profession are required to play a new role. Nowadays, together with globalization and the improvements in technology, businesses have been influenced by Industry 4.0 which not only affects them directly, but also without a doubt influences the accounting science. The integration of Industry 4.0 into businesses influences accounting science, cost accounting and management accounting. Thus, this study is significant because it contributes to the relations between cost and management accounting, and leads the way for new research. In this study, the effects of Industry 4.0 on accounting science were investigated while emphasizing that the traditional understanding of accounting has been evolving into “Accounting Engineering”. The aim of the study was to investigate the Industry 4.0 effects on cost and management accounting. Within the scope of this study, the roles of cost and management accounting in dark factories, which have the potential to become the production business of the future, were discussed. This study suggested that the existing accounting perspective should be changed. As a result of completed studies, various suggestions in accordance with Industry 4.0 have been put forward to reduce human error and wastage, better manage time, increase production capacity and quality, reduce costs and provide a competitive advantage.