THE EFFECTS OF COMPUTER ON THE ACCOUNTING PROFESSION
NAMES MAT NO:
OTOMEWO DANIEL WILLIAMS 6050
EKHATOR OSAYUWAMEN PRECIOUS 6951
ONI JOY ADELEMON 7029
EGBE PRINCE ISAIAH 7114
ODIASE PRECIOUS IYOBOSA 7033
EKUASE AUSTINE OSAMUDIAMEN 7031
The aim of this study is the effect technology on accounting profession. The results of this study shows that technology causes decrease in book keeping. Also, it causes increase accuracy in accounting process, to shorten the time of providing reports, to decrease cost of gathering information, to improve reports in management accounting and to provide a background for executing techniques of ...view middle of the document...
Today, however, AISs are an enterprise-wide information system that focuses on the business process of the organization as a whole (Bagranoff, Simkin, & Norman, 2008). Accountants today, with the use of AISs, are able to process far more information and create reports for all areas of the organization. And with the new AISs comes new responsibilities. As a result of the corporate scandals of the early 2000’s, the Sarbanes-Oxley Act of 2002 required corporations to undergo much stricter audits and set new enhanced standards for financial statements (Bumiller, 2002).
The accounting profession has also significantly changed due to the fact that the new problems have risen out of advances in AISs. Problems such as information overload, input errors and insufficient audit trails have created a greater need for accountants to be trained and knowledgeable in information systems and IT (Bagranoff, Simkin, & Norman, 2008).
Computer systems and Information technology (IT) has played the largest part in creating greater efficiency and effectiveness in the accounting process. In this information age, fewer workers are producing goods while more employees are paid to analyze and manipulate information about the goods produced (Bagranoff, Simkin, & Norman, 2008). More attention in technology is being paid to information systems that help to streamline the accounting process and communicate the information being produced. This technology is helping AISs to capture more than just financial transactions, non-financial transactions as well (Bagranoff, Simkin, & Norman, 2008).
Another technology that is having a great effect on the accounting process is Wi-Fi technology. Now accountants can be on the opposite sides of the country and work on the same problems without either being on site because of the advances of Wi-Fi technology (Scott, 2007). Accountants no longer have to be onsite to look at data but can upload information and reports from anywhere in the nation as long as he can connect to a Wi-Fi network. This does, however, create problems with security and safety of information from theft (Scott, 2007). So further technology is being created to protect from identity theft online so that greater access to information is available to anyone at anytime who has access (Scott, 2007).
STATEMENT OF PROBLEMS
Accounting procedures are naturally complex and are becoming increasingly more sophisticated and so it becomes more necessary wanting to know how computerization has helped in resolving this complexity and also to get to know of it holds any greater promise for the future in the field of accounting. These are the problems the study shall be focused at.
OBJECTIVE OF STUDY
The basic objective of this research work is to highlight the effect technology has on accounting as a profession. The study will also seek to:
1) Evaluate the effectiveness of technology in accounting as a profession.
2) The rate at which technology has grown in...