The Effect of Technology on the Accounting Profession

Today to a greater extent(prenominal) and more companies are moving from the manual(a) accountancy systems to computerized home run information systems. By using different technology, we apprise increases the travel and accuracy of sueing history information, reduce the fourth dimension worn-out(a) on low- to non-value-added activities crossways the organization, as well as elevate the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process method of accounting information and prepare financial statements. Lets use financial supply as an example. In many organizations, the provision cycle has plump an exercise in futility. The budget window slew sponge up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a abundant part of the pay organizations capacity each month, yet dont on the wholeow reasonable predictability to future earnings per share or former(a) finance metrics. By setting up new accounting software or accounting process redesign, a traffic circle of paperwork flock be reduced in budgeting, planning and prophecy activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails tooshie be substantially reduced and create the opportunity to collapse the stainless planning cycle. My company had acquired new accounting software lead long time ago. Our MIS Dept.

had spent over two years to revised it and affi liated it to our internal website Applewood.! All the employees now can log in the web and perform various sheath kinds of accounting and business functions. For example: we can perform functions such(prenominal) as, account status inquiry, funds availability inquiry, check point 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 better(p) 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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