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 make information systems. By using different technology, we apprise increases the drive and accuracy of sueing report information, reduce the fourth dimension spent 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 account statement information and prepare financial statements. Lets use financial cede as an example. In many organizations, the provision cycle has force an exercise in futility. The budget window slew hybridize up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a jumbo part of the pay organizations capacity each month, yet dont offer up reasonable predicta bility to future earnings per share or some other finance metrics. By setting up new accounting software or accounting process redesign, a carry on of paperwork force out be reduced in budgeting, planning and divination activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails throne be substanti on the wholey reduced and create the opportunity to collapse the integral planning cycle. My company had acquired new accounting software triad long time ago. Our MIS Dept.

had spent over two historic period to revised it and affiliated it to our internal website Applewood. All the e! mployees now can log in the web and perform various vitrine kinds of accounting and business functions. For example: we can perform functions such(prenominal) as, account status inquiry, funds availability inquiry, check quest 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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