The Effect of Technology on the Accounting Profession

Today to a greater extent(prenominal) and more companies are moving from the manual(a) accountancy systems to computerized marking information systems. By using different technology, we apprise increases the rush along and accuracy of sueing account information, reduce the fourth dimension fagged on low- to non-value-added activities crossways the organization, as well as provoke the organizations ability to make profit-enhancing decisions. As information technology makes more ubiquitous in work activities, it has changed the way we process chronicle information and prepare financial statements. Lets use financial provision as an example. In many organizations, the provision cycle has rifle an exercise in futility. The budget window slew sweep oar up eight-plus months and is plagued by sandbagging and stretch target setting. Forecasts become a manual nightmare that may consume a prodigious part of the pay organizations capacity each month, yet dont pop the qu estion reasonable predictability to future earnings per share or different finance metrics. By setting up new accounting software or accounting process redesign, a contend of paperwork gutter be reduced in budgeting, planning and divination activities across the enterprise. The multiple process streams involving manual spreadsheets, reconciliation, re-keying and e-mails discharge be substanti entirelyy reduced and create the opportunity to collapse the stallion planning cycle. My company had acquired new accounting software trine long time ago. Our MIS Dept. had spent over two age to revised it and affiliated it to our internal website Applewood. All the employees now can log in the web and perform various fiber kinds of accounting and business functions. For example: we can perform functions much(prenominal) as, account status inquiry, funds availability inquiry, check implore inquiry, invoice inquiry, purchase order inquiry, and vendor inquiry, etc. We can also t ransfer different kind reports, and access a! ll prior years data. Information technology is about combining the best(p) 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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