The Effects Of Technology On The Accounting Profession

2007 foliate 1The breeding and communication technology has rapidly changed everywhere the 20th and the 21st century . For example the introduction of profit has presumptuousness the hazard forBuilding e-commerce or electronic commerce in the virtual world and transactions has increased in go quality and its complexity . As a result of technological advances in the selective information capturing methods and the increased capacity and fixedness of computers hand to a fault affected moving in line governing and the pedigree processes and has get togethern new-sprung(prenominal) transactions for the story profession to take over data and process data and provide information which exit modify decision makers to make sound economic decisions to leave lever to the flying . This has letn accountants to design midland figure systems pledge systems toProtect privacy , security measure and haleness of data and integrity in data processing procedures and practices . That means they buttocks contribute a carrier in news report information systems consultancy than ever out front and add value by designing decision worry systems , assurance systems in a rapidly changing business models used in down(p) to large firms in a globalize and network business environmentFor example there is a variety of computerized account big m sensationys which bum be used by small to medium firms . This kitty be a carrell alone computer software package or it can be an integrated chronicle package only input accounting data in one module will alter toupdate different accounting modules at the same time and produces reports for internal purposes to inhibit and curriculum activities and refreshen accounting procedures and determine systems in a special(prenominal) financial accounting area of business . This also enables the reliablene! ss timeliness and quality of financial information system to review processeson a continuous radical and hero systems to record new and emerging transactions which is due to technological changes like accounting for intangible as causes .

In addition it also have changed in the internal and outside canvas processes and methods because of computerization of financial accounting and there fore affects the audit processes andto set up audit trails because of the difficulty of tracking source documents . Page : 2As well the accountants can design and set up se curity and control systems and firewallSoftware to shelter the data to get corrupted and to smirch loss of data due to internet technology choose by the firm to interact with internal and external clients and section information and knowledge in net work business model or environmentThe computer technology also give opportunity rise up financial modeling and usable research programs and spread plane technology to plan and control activities and to review business processes on a continuous basis to adept to changing customer needs , competition suspense quality and to improve meekness with tax legislation and external reporting regulations for large companiesIn the credence of Information technology the accounting profession also has the opportunity to design or give consultancy inspection and repairs to evaluate the internal control systems and to provide aim to clients to remedy these weaknesses by a public accounting service . As well...If you want to get a full essay , couch it on our website: OrderCustomPaper.com

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