The Effects Of Technology On The Accounting Profession

995 words - 4 pages

The Effects of Technology on the Accounting Profession

Kaishia Johnson


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.
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.
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...

Other Papers Like The Effects of Technology on the Accounting Profession

The Effects of Technology on Our Lives

739 words - 3 pages and lives.   But not everyone thinks so.  There is actually a belief that computers are destroying our world. They believe that computers make us weaker in the future as we become over reliant on technology and might be completely helpless without it. Others against computers, believe that it is making us self centered and less social. And there are some who think computers are driving creativity out of our souls.  There will always be skeptics

The Effects of Technology Essay

991 words - 4 pages be said that he is well known and is very knowledgeable on the subjects having to do with social and economic effects of the internet. He has a good way with getting across to his audience. He does not consider just his opinions when he presents topics. He shows both the good and the bad to all sides and tells everything from all points of view. After reading this excerpt it is unclear whether Shirky would prefer that technology changed the

Survey of the Effects of Technology on Language

1465 words - 6 pages Survey of the Effects of Technology on Language By survey, technology and language are inextricably related1, but under what definitions, and how might the relationship fare under stricter ones? In order to understand the affects of Technology on Language, we must first define both Language and Technology as theoretic constructs, as well as the more apparent languages and technologies which shall weigh more heavily as evidence. We look first

The Effects of Excessive Technology Usage

989 words - 4 pages harmful side effects we may not know. The inventions are as harmful as their usefulness sometimes. Some of these tools also play a big role on our lives. However, society has made a habit to depend on these convenient tools and it is a reality we must accept. Technology has grown in the extend to students use computers. As Fried states in his/her research, "Computers, and especially laptops, become standard equipment in higher

Effects of Technology on Consumers

5229 words - 21 pages effects of new technologies on consumer and the need to know their rights when it comes to the use of such technologies in the workplace. In addition, the employees should be aware of the rules governing the new technological innovations .Hence, understanding those rules are critical to their implementation. Sheridan &Williams in their article “Employee Training Key to Dodging Business Risks and Protecting Consumer Rights When Utilizing New

What Has Caused the Increased Use of Digital Technology and Its Effects on Communication

871 words - 4 pages comes out which allows to have a live talk together instead face-to-face (Parent Line, 2008). Another important effect is that the digital technology improves the ability of communication during a catastrophe. On April 20, 2013, a magnitude-7.0 earthquake struck the Sichuan Province of China, killing more than 100 people and the houses nearby were all collapsed. Many were buried under the ruins. When some survivors tried to ask a help with the

Effects of Globalization and Technology on the Twenty First Century Workplace

778 words - 4 pages Globalization and technology have made an impact on the twenty-first-century workplace and with the impact certain jobs are at risk while other jobs will be unaffected in terms of eradication. Globalization is the act of extending anything to other parts of the world and this has made the ability to acquire people with unique talents and skill far easier (outsourcing) and has also led to cultural diversity while affecting those cultures as well

What Role Did the Accounting Profession Play in the Recent Subprime Mortgage Crisis?

642 words - 3 pages What role did the accounting profession play in the recent subprime mortgage crisis? What could they have done differently? In all businesses, accounting is the backbone that holds them together. In stating this, the demise of the subprime mortgage industry lies within the bad practices of mortgage companies, banks and financial institutions. Allowing the lending of billions of dollars to non-credit worthy individuals was a disaster waiting to

Effects of Modern Technology to Learning Habits of the Students

1488 words - 6 pages “A STUDY ON THE EFFECTS OF MODERN TECHNOLOGY TO STUDENTS” A Research Paper Submitted to: Professor Rhona Theresa S. Sambrano, M.A.T School of Medical Laboratory Science Far Eastern University Dr. Nicanor Reyes Medical Foundation In Partial Fulfilment of the requirements for English 2 Albarico, Karl Marco S. Lim, Patrick Joseph C. March 2016 APPROVAL SHEET The research paper entitled “A STUDY ON THE EFFECTS OF MODERN

Effects Of Technology On Sleep Patterns

1123 words - 5 pages with delayed bedtime and shortened sleep, according to a review of the literature. However, some shortcomings in the existing literature were noted in the review. Future studies were recommended to measure sleep by self-report estimates of sleep parameters such as bedtime, SOL, time spent awake after sleep onset, wake-up time and rise time, each estimated separately for weekdays and weekend days. Newer technology, such as portable electronic

Perceptualizing the Profession

1510 words - 7 pages Perceptualizing the Profession In the health care field, there is ongoing debate on subjects such as health care reform, ethical dilemmas, and ideals regarding nursing as a profession. Those debating the issue are generally passionate about their stance on regarded topics. Some teeter or straddle the fence, while others have no opinion or just do not care. The view of nurses in the workforce has fueled discussions on how nursing is

Related Essays

Effects Of Technology On The Accounting Profession Paper

901 words - 4 pages The Effects of Technology on the Accounting Profession has gone where no one thought it would 50 years ago. Fifty years ago Accounting systems was done on columnar accounting paper and carbonized checks, receipts. Then using an adding machine that had tape to compare totals and calculation rows of various monthly totals to make accounts balance. To today where accountants need to know their technology, companies are increasingly moving away

How Technology Will Change The Accounting Profession

1948 words - 8 pages believe what Duells said, that there is nothing more to come? Today, companies have access to some of the most groundbreaking technology, but are they truly taking advantage of it? One field that has changed dramatically over the past few years is the accounting profession, especially Certified Public Accountants (CPAs). Are CPAs staying on top of the latest technology that can greatly assist them in doing their job? For a better understanding of how

The Impact Of Information Technology On Accounting

2983 words - 12 pages and its main functions. 4. identify the potential users of accounting information. 5. use information to make simple economic decisions. 6. understand the role of accounting information in the decision-making process. 7. understand the differences between accounting for management and accounting for external users. 8. understand how the accounting profession is organised in Australia. 9. identify the different

The Impact Of Information Technology On The Accountancy Profession In Nigeria

2905 words - 12 pages ENHANCING EFFECTS OF INFORMATION TECHNOLOGY ON THE ACCOUNTING PROFESSION Tool for enhanced performance: Information technology is enhancing accounting processes and procedures. Through the use of software, hardware, databases and network systems, financial information can be captured processed and transmitted at the touch of a button. Powerful analytical software futures exist today that that provide management accountants with the capabilities to