How Modern Technology Affect Accounting Work - Essay Sample

The accounting profession is considered to be one of the fields that have significantly been affected by technology advancements. The evolution of information technology has impacted the accounting process in various good ways. Currently, it is hard to find anybody operating manual accounting that was initially done with the use of paper and pencils. Because accounting revolves around dealing with information, in this case, the business information it is, therefore, right to conclude that any advances made in this sector are likely to have a positive impact on the accounting. This can range from the old days of the battery operated calculators to the traditional use of T-accounts. These early methods were time-consuming and also tedious as compared to the recent advancement in computer technology.

Evolution of accounting equipment has been one of the ways how the technology has impacted the accounting department. Some of the impact of technology on accounting over the time been experience through the evolution of computers, scanners printers, and faxes. The evolution of the information technology has made possible that the accounting world today do not experience the green paper sheet and the pencil. On a positive note still, the equipment is affordable. Importantly, the equipment is not only valid for a big organization, but they can also be used small business as well. The advantages that come with these machines is the fact that they are sophisticated, easy to use and fast.

Apart from the equipment, accounting has been tremendously improved with the use of the software. Some of the current softwares that have been very significant in accounting filed like the spreadsheet program have been profoundly used in the accounting profession. They have been used by accountants to help in calculation and reporting. Also, there is accounting software that is on the market. Such programs like the quick books are easy to use and also affordable. The quick books, for instance, has been used by accountants in the daily task to help in recording transactions, paying bills and have been significantly used to report.

The Internet has been a platform that has also significantly transformed the accounting department. The Internet has opened various doors for the accountants. It has facilitated the sharing of documents. Apart from sharing of the document, it has also aided in accounting research and currently can be filed online because of the internet. One of the key features that have since evolved with the introduction of the internet is the cloud computing. Cloud computing is primarily involved with the running of application through an online platform and not on the customers premises. This has made sure that accountant is today able to operate at any place. Improvement InTechnology has also resulted in the advancement of tax software (Strauss et al., 2015).

With the widespread of the accounting technology, the accounting security is one of the areas that has been impacted a lot. The used of identification and the availabilities of passwords have been numerously used to limit access to some of the confidential information that might be having neatly one would quickly see blinder and several papers lying in an office. Currently, however, security has been dramatically enhanced with proper computer programs. With the well use of a counting program, accounting information, therefore, can be encrypted in special ways to help in preventing unauthorized use thus making it safe. In cases where the laptop and computers are then, the advancement in technology has made it possible to track this equipment with the use of software that can be activated remotely (Strauss et al. 2015).

One of the example that has all along been used in the accounting profession is the process of credit cards. This has been significantly used in the hotel industry. They have enabled the organization to perform 70 % of their accounting operations. Previously these institutions could use an old credit card and as also print machines and they could be mutually printed for each transaction. This, however, has since changed thus saving a lot of time. Another s significant use of technology has been seen in the use of Peachtree, Oracle, and QuickBooks.

The evolution of technology as also affected the academic aspect of accounting. Since there has been a close synergy that exists between accounting and information system. Various universities today are offering degrees in accounting and information system. In some areas, the course is referred to as the accounting information system. In other institutions, the two have been divided into major and minor. These particular institutions can offer major in accounting and minor in so information system. The program has been interrogated in the learning system to include the typical accounting concepts, and they use information technology. As explained by Ryan (2017), an accountant of the present or future should be technologically savvy for one to be relevant in this profession in light of this the universities are at the forefront preparing their student for this venture and challenge.

The accounting field has benefited in various ways with the advancement of technology. The first advantage of the use of technology in the accounting department is the speed. The fact that the unit today is capable of using multiple techniques have been able to result in mores faster and also accurate results. As such, both small and significant organizations have been able to develop timely reports. However, it is also advisable that for it to remain endlessly effective, the technology, whether software or hardware should be able to use with proper backups.

Accuracy is so another sign cant make a bit of technology to the accounting field. As illustrated by Diatmika, et al. (2016), the accounting work in most cases is very detailed. In light of this, it is usually necessary to ensure that accuracy is not compromised. With the widespread of technology, the accounting department has been receiving very accurate results since most of the calculation done by the programs are allows correct. For instance, an invoice is one of the documents commonly used in the accounting department. In most cases, invoices could be having several lines of items and many sales that that are associated with them. As such if the invoices to be used by the companies are produced manually, there is usually likely hood or errors

The third advantage utilizing the technology in accounting is because theyre flexible. Most of the softwares that are used in accounting are usually flexible and can easily adapt any business practices change (Ryan, 2017). In most cases, there are designed in a way that they can be easily be outdated to create room for new progress in the company. Some of the flexible accounting software is the credit card processing and the ability to send invoice online. In action, the some of the practices that accountants are involved in sally change so often. For example software for taxes should be flexible enough to ensure that they can capture any changes in the accounting practice.

As much as the use of technology can be said to have significantly impacted the accounting department. There are those who still feel that the advancement in technology should not be embraced into the accounting field. Some of the reasons given by these people include; first, they cite the cost aspect of the technology. M majority of this lot believe that it is usually costly to deploy some of these technologies into an organization. It has been profoundly argued that these changes are expensive are require a company to part with a lot offends since they are used on daily basis

The other disadvantage has been seen regarding accuracy and speed. As explained by Diatmika, et al. (2016), accounting system requires a human being to feed them with information and therefore are prone to errors. When an error has been detected it usually takes a lot of time to look for it thus wasting the firm time. Finally, the softwares used in accounting profession are also arguably prone to security risk. The nature of most of the accounting softwares shows that the employees are likely to have access to the confidential information of the company. In conclusion, with all the fact presented on the impotence use of techno in the accounting profession, it can be concluded that technology in this department has done more good than harm.

Reference

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