The Effect of Technology on the Accounting Profession

Today more(prenominal)(prenominal) and more companies are moving from the manual(a) accountancy systems to computerized wee information systems. By using different technology, we apprise increases the induce and accuracy of sueing account information, reduce the fourth dimension dog-tired on low- to non-value-added activities crossways the organization, as well as put up the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process accountancy information and prepare financial statements. Lets use financial tot as an example. In many organizations, the provision cycle has buy the farm 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 spoilt part of the pay organizations capacity each month, yet dont add reasonable p redictability to future earnings per share or former(a) finance metrics. By setting up new accounting software or accounting process redesign, a piling of paperwork stooge be reduced in budgeting, planning and prevision activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails chamberpot be substanti on the wholey reduced and create the opportunity to collapse the correct planning cycle. My company had acquired new accounting software threesome 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 employees now can log in t he web and perform various type kinds of ac! counting and business functions. For example: we can perform functions much(prenominal) as, account status inquiry, funds availability inquiry, check predication 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 take up technology available to process and manage information so that it can... If you want to get a full essay, order it on our website: OrderEssay.net

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