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The Effects Of Technology On The Accounting Field

1249 words - 5 pages

Technology in the accounting field has come very far, from the abacus to modern day accounting software. E-Business, work being done through networks, is taking the accounting field to a more future computerized world, leaving the pen and paper behind. With all the new technologies, the profession of accounting is growing and expanding and proving that information and skills provided by accountants using modern technologies can spill over and help other parts of a business. Even with all the down falls that accounts have taken, from the stock market crash of 1929, and the fall of companies such and Enron, World Com, and Tyco. New technologies have brought new legislature and new forensic accounting titles, helping to keep the accounting and business world spinning.
An abacus is the ancient form of accounting technology. It used different color beads, ten on each slide that were moved up and down to represent numbers, this is how an account did his job in the ancient days. Than as time moved forward people started using ledgers with pencil and paper and the human brain to calculate the numbers. Than time moved forward more and more, things like the calculator, adding machine and pre-printed ledger books come to be, making the accountant’s job less tedious and easier. Even though these items are not the technology that we are quite looking at, they are still were considered the latest accounting technology of its time.
Technology in the accounting field really took off toward the end of the twentieth century. Computers where becoming more and more used in business and things like the Microsoft office suites were making pen and paper a thing of the past. The software product that really hit the accounting department the hardest was Microsoft Excel. Excel gave accountants a computerized spread sheet instead of ledger books. Things like adding, subtracting, auto sum could just be done on the computer software leaving no need for adding machines or calculators. Items such as charts for predicting data, adjusted/unadjusted statements, balance sheets, income statements, cash flows statements, statements that would have taken days or weeks to hand write and prepare for finical executives could now take hours to days. This was a huge gain in the accounting department, the job became less tedious, less pencil and paper pushing, and there was less room for error. Now businesses could count more on the predictions and numbers handed over by the accounting department to be more accurate, organized and received in a timelier manner. The days of salving away at a desk with endless numbers, or peoples taxes was over.
The use of E-Business, intranet, extranet, and cloud computing technologies in the accounting field., E-Business is being used for items such as statements and other major business needs using digital networks such as the intranet and extranet. Using the intranet and extranet will be of great gain for current and future employees. The...

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