The Effects of Technology on the Accounting Profession Paper

The Effects of Technology on the Accounting Profession Paper

There are new programs for Accountants that are always being made. Every Accounting software has to have updates that are required in order to keep the software up to date with the new rules that must be followed.

Information systems have made the accounting system easier by the changes in the software. Software has changed the way things are reported. Software has made counting task go by faster and easier along with improving the security of accounting data. Organizations along with multinationals have increased their systems with the new information system and technologies in order to carry out their tasks. This system has a standardization along with divisions, locations, and offices.

Microsoft, Oracle for accounting and other venders have developed software for accountant to help reduce time when it comes to the financial statements. Auditors and accountants are able to complete the task and send them in less time than if they had to hand write everything. New information systems have been developed for the accounting process. Payroll management systems have improved their payroll methods. There are sharing tools available to accounts so that they are able to merge and collaborate their work through the company to other accounts within the same company just a different location.

When a business keeps a record in their accounting system it is known as an accounting information system. The records that an accountant keeps on this system is the sales, purchases, along with the financial statements. This helps investors, managers, and the owner make decisions from the data that is recorded. There are steps in accounting that must be followed in order to use the Electronic Financial Accounting system. Accounting Information System provides the necessary data that is needed in order to assist the accountant when doing accounting work if the accountant needs help.

When accounting first began it was just debits, credits, journals, and ledgers. These were all entered manually on paper, which took hours. There were many of times the calculations were done repeatly to make sure everything matched up correctly with all the receipts. Finding the errors took long hours as well. Since accounting programs have developed it has helped