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 punctuate information systems. By using different technology, we apprise increases the hotfoot and accuracy of sueing score information, reduce the fourth dimension washed-out on low- to non-value-added activities crossways the organization, as well as c exclusively down the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process explanation information and prepare financial statements. Lets use financial offer as an example. In many organizations, the provision cycle has depart an exercise in futility. The budget window slew cut across up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a forged part of the pay organizations capacity each month, yet dont forget r easonable predictability to future earnings per share or different finance metrics. By setting up new accounting software or accounting process redesign, a visual sense of paperwork dismiss be reduced in budgeting, planning and presage activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails apprise be substantially reduced and create the opportunity to collapse the integral planning cycle. My company had acquired new accounting software cardinal long time ago. Our MIS Dept.

had spent over two days to revised it and affiliated it t o our internal website Applewood. All the em! ployees now can log in the web and perform various image kinds of accounting and business functions. For example: we can perform functions such(prenominal) as, account status inquiry, funds availability inquiry, check demand 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 silk hat 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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