The Effects of Technology on the Accounting Profession
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The effects of Technology on the Accounting Profession
Technology has come a long way in the field of Accounting. It started as having books with journals and registers to what it is today. The accountants then had a 10-key calculator to help the accountant add or subtract numbers, giving him or her faster ways to compute numbers. Once computers came about it gave the accountant a little faster processing times. Computers have made the job of accounting easier for the Accountant and owners of a business. There are many programs out to help the Accountants and Owners get through each step along the way. These impacts on accounting technology have stopped most unethical practices among the accountants or other parts of businesses.
Accounting technology has taken the number cruncher and given the accountant more options on what to do with his or her time than just sitting at a desk working on one businesss finances at one time. Accounting started with books, journals entries, T-accounts, and a person that was good with math and organization. It then went into having the help of an adding machine, giving the accountant a little faster and easier way of keeping up with the business world. There were still papers and time being wasted on doing statics. Computers came in and gave more freedom for the accountants on keeping records. Statics were easily available to the accountants and managers to know how the business was doing. Programs, such as excel, came and helped the business become more independent on accuracy for the accountant. This helps eliminate errors and other problems that occur in accounting.
In the banking organization that comes to mind, they started off with books that keep records of each persons account. There was no way of going out of town to other banks and getting money from your account, because that bank would not know what was in the account at the other bank. As time went on banks became technologic with getting computers and programs to help with keeping track of peoples money. Now, a person can go to a different town and go to the same name bank and pull money out with the right identification. The branches use usernames and passwords to be able to get into a computer. There are different departments that deal with different parts of the bank. Tellers take in and give out money to the clients through the clients accounts. Bankers put the clients in the right accounts and help with other issues that a client can have. There is accounts receivable, accounts payable, payroll, mortgage, car loans, and investments. This keeps