The Effects of Technology on the Accounting Profession
October 12, 2014
The Effects of technology on the Accounting Profession
Thirty years ago, most financial accounting was done manually, leading to a great deal of paperwork. Currently, most accounting information is recorded via computers and wide area networks (Journal of Accountancy, 1994a). Technology has certainly changed the face of accounting over the years. The effect new technology has on the accounting profession have bought significant changes in the way accounting practices and processes information. With advancements in technology it has increased the accuracy and efficiency way accountants do their everyday tasks. The advancements also bring an increase to the education in the accounting profession in order to stay competitive with today’s fast pace society they must become more technologically incline.
Technological tools work to promote efficiency in the transferring of data between corporations and their different divisions, offices, customers, and even their accounting firms. Communications technology utilizes a combination of technologies to transmit data in a variety of forms to each of these recipients. This particular form of technology is of considerable importance for large accounting firms, because its enhanced communications capabilities allow for easier expansion into the worldwide market. This global aspect of technology is necessary for accounting firms to maintain their international competitiveness (Journal of Accountancy, 1996). Information system are changing many aspects of business especially in accounting . (AIS)- accounting information system affect various aspects of the profession including financial/managerial accounting, auditing and taxation. PDA's, cell phones, web conferencing, internet, and many other technological advances within the last few decades has allowed people from all professions to...
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