Assignment On Accounting Info Systems

1018 words - 5 pages

1Running head: EVOLUTION OF ACCOUNTING INFORMATION SYSTEMSEvolution of Accounting Information SystemsACC340 - Professor WilliamsUniversity of PhoenixJessica L. RigassioEvery accountant knows that accounting is the language of business in today's society. Although that language has gone through many changes throughout the ages, accounting technology has always played a part in making the accountant's job just a little bit easier. Technology advancements have enhanced the accountant's ability to interpret data efficiently and effectively (Pepe, 2011). Whoever the accountant may be, now has the ability to interpret the language of business with such ease that the accountant has become a corporation's most trusted business advisor. As our knowledge of technology continues to increase, so does the accountant's ability to analyze statistical values.As the twentieth century came to a close, the accounting profession began to take on a whole new look. Computers and accounting software has altered the industry entirely. Microsoft excel, an electronic spreadsheet, eliminated the need for adding machines, calculators, ledgers and pencils. Excel made an accountant's job less tedious with less of a margin for error. With use of the computer an accountant can now perform statistical accounting or forecasting analysis with greater efficiency. Accounting technology has eliminated the number cruncher sitting behind a desk working on people's taxes and has allowed the accountant to find new challenges with much more to offer then decades ago when they relied on an abacus for a calculating tool (Kruglinski, 2009).E-Business, the Intranet and the Extranet have become essential in the accounting world as well. Today's accounting professionals who understand the importance of the Internet will use the Internet for e-business (Pepe, 2011). Accountants typically use the Internet to execute major business processes in the enterprise. E-Business allows the accounting firm to coordinate activities for internal management and combines the clients' relationships with the use of digital networks. As for the Intranet, it can distribute information to employees such as corporate policies, and programs. Companies create a portal within their company, which is a single point of access. Information can come from numerous different systems using a Web interface. This is an excellent way for employees to communicate within an organization. Linking electronically increases efficiency and cuts down on travel costs ultimately reducing operational costs.With the click of a mouse, information became accessible to an accountant. Ultimately, changing the nature of an accountant's work. Doors began swinging wide open with the use of information technology leading to diversification in the field of accounting. Businesses commenced the search for professional accountants and their technological advice. Accountants became more knowledgeable about which financial systems operated best. An accountant's main role was to help businesses become more productive. Integrating the client's technologies properly with the accountant's systems made the practice more efficient when it came time for write-ups and reconciliation processes.Not only does the client need to have proficient financial processes but the accountants themselves need software programs that keep track of clients accounting information with improved efficiency (Pepe, 2011). Accountants work with systems programmers to develop a digital process that organizes their client's history and all their documents. Once their information is input into the computer, the processing cycle enables it to change the data into useful information. Output, transfers the processed information to the accountant when he/she can then analyze the data and interpret the clients' financial statements so as to increase the clients success. In simpler terms, the clients' records are stored and organized on an accountants computer system. Computer information systems eliminated suitcases full of file folders to a more organized and competent portable storage device making business fast and easy. The accountant has the client's sensitive information protected but yet at the tip of their fingers. The need for a file storage room has been eliminated.Another technology advancement in the accounting world is cloud computing. Cloud computing is a service that is being provided over the Internet to permanently store data and use business applications over a remote server. Cloud computing can also be shared between users or in this case, for accountants. However, accountants should be aware of the security issues involved when making a decision to use this newer technology. Cloud service providers are obliged to provide a safe environment to store the organizations sensitive information, as accountants are obliged to understand the risks (Pepe, 2011).Since the advancements of information technology, accountants have been pushed towards acquiring new skills. Accountants are expected to have high levels of computer and technical skills. Such skills have become a part of the knowledge and abilities of the accounting professionals. In conclusion, the accounting industry is speaking a new language of business. It is the language of future generations of accounting professionals. The evolution of accounting technology has been tremendous with strong growth potential for the future. These advancements have taken the industry to great new levels of opportunities. The evolution of technology has made accounting information systems essential for a business to run efficiently and effectively and has created career stability and many diverse opportunities in this successful industry of professional accountants.ReferencesKruglinski, J. A., C.P.A. (2009). CPAs: MANY DOORS TO OPPORTUNITY. Pennsylvania CPA Journal, 79(4), 38-41. Retrieved from http://search.proquest.com/docview/274834492?accountid=27354Pepe, A. (2011). The Evolution of Technology for the Accounting Profession. CPA Practice Advisor. Retrieved from http://www.cpapracticeadvisor.com/article/10263076/the-evolution-of- technology-for-the-accounting-profession

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