The Effect of Technology on the Accounting Profession

Today more and more companies are moving from the manual accounting systems to computerized accounting information systems. By using different technology, we can increases the speed and accuracy of processing accounting information, reduce the time spent on low- to non-value-added activities across the organization, as well as enhance the organization's ability to make profit-enhancing decisions. As information technology becomes more ubiquitous in business activities, it has changed the way we process accounting information and prepare …

…all prior years' data. Information Technology is about combining the best technology available to process and manage information so that it can be used efficiently, effectively within an organization. Computers are capable of using programs to process data and performing arithmetic or logical operations to supply results. More and more companies are investing in information technology to seek strategic and competitive advantage. We can predict these technologies will further change the way accounting is performed.