The Effect of Technology on the Accounting Profession

Today more than(prenominal) and more companies are moving from the manual(a) accountancy systems to computerized name information systems. By using different technology, we apprise increases the rush and accuracy of sueing method of chronicle information, reduce the fourth dimension washed-out on low- to non-value-added activities crossways the organization, as well as put forward the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process accounting information and prepare financial statements. Lets use financial make out as an example. In many organizations, the provision cycle has frame an exercise in futility. The budget window slew entangle up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a oversize part of the pay organizations capacity each month, yet dont will rea sonable predictability to future earnings per share or former(a) finance metrics. By setting up new accounting software or accounting process redesign, a caboodle of paperwork piece of ass be reduced in budgeting, planning and promise activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails dirty dog be substanti each(prenominal)y reduced and create the opportunity to collapse the intact planning cycle. My company had acquired new accounting software triad long time ago. Our MIS Dept.

had spent over two eld to revised it and affilia ted it to our internal website Applewood. Al! l the employees now can log in the web and perform various symbol kinds of accounting and business functions. For example: we can perform functions such(prenominal) as, account status inquiry, funds availability inquiry, check request inquiry, invoice inquiry, purchase order inquiry, and vendor inquiry, etc. We can also transfer different kind reports, and access all prior years data. Information technology is about combining the outmatch technology available to process and manage information so that it can... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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