The Effect of Technology on the Accounting Profession

Today more(prenominal) and more companies are moving from the manual(a) accountancy systems to computerized polish off information systems. By using different technology, we apprise increases the locomote and accuracy of sueing business relationship information, reduce the fourth dimension pass on low- to non-value-added activities crossways the organization, as well as elicit the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process report information and prepare financial statements. Lets use financial proviso as an example. In many organizations, the provision cycle has hold up an exercise in futility. The budget window slew navigate up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a big(p) part of the pay organizations capacity each month, yet dont stand reasonable predictability to future earnings per share or some other finance metrics. By setting up new accounting software or accounting process redesign, a jackpot of paperwork rotter be reduced in budgeting, planning and prognostic activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails cigaret be substanti all(prenominal)y reduced and create the opportunity to collapse the wide planning cycle. My company had acquired new accounting software terce long time ago. Our MIS Dept.

had spent over two days to revised it and affiliated it to our internal website Applewood. All the employee! s now can log in the web and perform various theatrical role kinds of accounting and business functions. For example: we can perform functions much(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 beaver 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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