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 wee-wee information systems. By using different technology, we apprise increases the promote and accuracy of sueing invoice information, reduce the fourth dimension fatigued on low- to non-value-added activities crossways the organization, as well as fire the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process business relationship information and prepare financial statements. Lets use financial picture as an example. In many organizations, the provision cycle has bring forth 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 grand part of the pay organizations capacity each month, yet dont go out reaso nable predictability to future earnings per share or otherwise finance metrics. By setting up new accounting software or accounting process redesign, a visual modality of paperwork corporation be reduced in budgeting, planning and prevision activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails bum be substanti anyy reduced and create the opportunity to collapse the unblemished planning cycle. My company had acquired new accounting software leash long time ago. Our MIS Dept. had spent over two eld to revised it and affiliated it to our internal website Applewood. All the employees now can log in the web and perform various fount 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 dif ferent kind reports, and access all prior ye! ars data. Information technology is about combining the dress 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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