This article reviews the literature on artificial neural networks (ANNs) applied to accounting and finance problems. The first section reviews the basic foundation of ANNs to provide a common basis for further elaboration. The second section discusses development of ANN models including: selection of the learning algorithm, choice of the error and transfer functions.
Developers of commercially used ANNs consider the inner workings of their systems to be proprietary information. The lack of details on internal system structure precludes using the published information about those systems to answer open research questions.
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