The Effects Of Technology On The Accounting Profession

995 words - 4 pages

The Effects of Technology on the Accounting Profession

Kaishia Johnson

ACC/340

April 21, 2014
Judy Thomas

The Effects of Technology on the Accounting Profession

Accounting Information Systems are defined as a collection of data and processing procedures that create needed information for its users, and exists at the intersection of two important disciplines: (1) accounting and (2) information systems (Bagarnoff, 2008, pg. 1). Knowing and understanding accounting information systems will allow accountants to possess a level of proficiency from using computers and the specialized software required to prepare the necessary financial statements. This paper will describe ...view middle of the document...

Internet faxing involves scanning documents using a TIFF or PDF file that is either e-mailed or uploaded to the service’s website, and the service then sends the file to the desired individual (Office Productivity Tools- Printers, Scanners, and Fax Machines, 2014, pg. 1). Printers have eliminated the need to keep accounting documents and paperwork stored in file cabinets because these items can be printed piece by piece when needed.
Software
The implementation of accounting software has eliminated the need for paper ledgers, pencils, and calculators. The reason is because the new software programs are designed to calculate the various expenses, liabilities, and revenues automatically. This new software makes mistakes easier to locate and correct. The software is also equipped to calculate spreadsheets. As a result, this has reduced the overall number of accounting errors, and the workload has become less tedious for accountants.
Electronic Business (E-Business), Internet, Intranet, and Extranet
E-business permits accounting firms to arrange projects for their inner management and blend customer’s relationships through using digital communication. The Internet has reduced the hours of research related to resolving accounting issues, complying with state and federal laws, and SEC and AIPCA regulations “The Intranet can distribute information to employers such as corporate policies and programs. It centers on a portal which is a single point of access” (Pepe, 2011, pg. 1). The information is communicated through instant messaging or e-mails. Extranet allows accountants to communicate away from the organization externally. Client access is limited, but they are provided a piece of the accounting firm’s link to their export and import files. As a result, efficiency is increased, travel expenses are reduced, and there is an increase to company revenue.
Security
User names and passwords to secured sites have replaced the no lock file cabinets that granted anyone who wanted access to personal customer information including Social Security numbers, bank account information, and addresses. Access to client information is limited to the accountant or accounting department only and this reduces identity theft. “Using a...

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