The Effects of Technology on the Accounting Profession
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Information systems has changed the accounting profession in numerous ways. The most obvious impact of this technology in accounting is the presence of computers, printers, scanners and faxes. Information technology (IT) transformed the accounting world to a pin and paperless place. This is great because the prices are affordable on most of the equipment. It is awesome because small business and non- profit organizations can get IT equipment easily and at a reasonable cost. The machines are sophisticated, fast and easy to use which is ideal for small and large corporations. Besides the equipment, accountants appreciate the new software. For example, what has become highly efficient are the spread sheet programs these help accountants with calculations and reports.
Many accounting programs in the market are easy to use and affordable, making them very popular with small businesses. This software has help accountants in their daily tasks, such as paying bills, recording transactions and reports. The program keeps all data organized and in a centralized location. (Information technology is used widely in accounting security. Identifications and passwords limit access to confidential information. Instead of binders and papers lying around, security can be greatly enhanced with the proper computer programs. Using a program, accounting information can be encrypted in a way to prevent unauthorized use, making it quite safe. A lost, stolen or misplaced laptop or desktop computer can be tracked using security software that can be activated remotely. Intuit: QuickBooks Online) New Information Technologies
Businesses use mass emails to disseminate information to employees. For example, the Mail Merge function in Microsoft Outlook can send an email to multiple recipients. Unlike a physical bulletin board in the workplace, businesses can use email to disseminate information to anyone in the world with an Internet connection. Mass emails also save time by avoiding the need to make phone calls on a one-on-one basis when employees are away from the office. Accounting work is very detailed and accuracy in recording and reporting is greatly valued. Technology has had a positive effect in accounting applications because calculations done by a computer program experience very few errors. For example, an invoice may have several line items and sales taxes associated with it. If the invoice is to be developed manually, the likelihood for errors is high, but that is not the case if software is used with a proper setup. Internet
The internet has been a great addition to the accounting profession. The Internet opened many doors and made life easier in many ways, especially in the accounting area, where documents can be shared, research can be conducted and taxes can be filed-all online. Connection to the Internet can be wireless and simple. Businesses do not have to buy software to run some programs. Instead, some sites host the programs online that are free, where files also can be saved. The Newest Trend
The latest trend with accounting applications is Web hosting off-site. Instead of installing a program onto your computer and saving data there, the program resides on a server in a different location; the saved information is accessed via the Internet. That’s also called “working in the cloud.” Businesses can save money in software and hardware purchases by signing up with a cloud provider and using its programs and space for saving data, meaning there is no need to get a bigger hard-drive or worry about program versions. The other advantage of the cloud is that you have access to your information anywhere you may be. Non-Profit Organization
Currently I hold a position at my father’s church as the secretary and financial advisor. It is a small church so record keeping is fairly easy. I currently use the excel spread sheet to maintain accurate record keeping. This spread sheet allows me to input weekly donations from each individual, which is great for tax season. I also use the internet to pay the church bills. There is a bill pay system online with the bank that directly sends funds to the necessary payee. Technology in the Accounting Profession has given accountants a chance to continue to grow and venture out into more that just reporting numbers. They are now able to advise online through programs like the cloud. They are able to consult on the go because of the internet and (IT) systems like MS excel. Accountants have gained a lot thanks to Information Systems.