The Effect of Technology on the Accounting Profession

Today more(prenominal) and more companies are moving from the manual(a) accountancy systems to computerized score information systems. By using different technology, we apprise increases the speed and accuracy of sueing accounting information, reduce the fourth dimension spent on low- to non-value-added activities crossways the organization, as well as enhance the organizations ability to make profit-enhancing decisions.

As information technology makes more ubiquitous in work activities, it has changed the way we process accounting information and prepare financial statements.

Lets use financial supply as an example. In many organizations, the provision cycle has become an exercise in futility. The budget window slew sweep up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a big part of the pay organizations capacity each month, yet dont provide reasonable predictability to future earnings per share or other finance metrics. By setting up new accounting software or accounting process redesign, a lot of paperwork can be reduced in budgeting, planning and forecasting activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails can be substantially reduced and create the opportunity to collapse the entire planning cycle.

My company had acquired new accounting software three long time ago. Our MIS Dept.



had spent over two years to revised it and affiliated it to our internal website Applewood. All the employees now can log in the web and perform various type kinds of accounting and business functions. For example: we can perform functions such as, account status inquiry, funds availability inquiry, check request 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 best technology available to process and manage information so that it can...

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