The Effects Of Technology On The Accounting Profession

720 words - 3 pages

The Effects of Technology on the Accounting Profession
In today’s business society, the accounting technology whether it be software or hardware is a vital part of just about every major business. Many people overlook the importance of the role of accounting technology in business and in the accounting profession. The fact is technology such as accounting information systems can make or break a business.
Utilization of Information Technology in the Retail Businesses (Wal-Mart)
To succeed in the rapidly evolving business environment we face today, businesses rely heavily on accounting technology to track information about their customers and inventory (Lazerus, 2010). Wal-Mart and other ...view middle of the document...

The majority of organizations today have accounting information systems that handle tasks that were done manually in the past. This effects the accounting profession because others are able to perform tasks that only accounting professionals performed in the past. With the development accounting information systems managers have inherited the task of learning and training their employees what they learn. For example, in a retail store accounting systems are used to order, locate and organize inventory so supervisors are tasked with learning and training employees to perform these tasks. Because employees and managers can now perform such tasks easily it has limited the jobs that accounting professionals had cornered as theirs in the past. Because of accounting systems managers have also inherited the task of learning how to perform minor troubleshooting of their systems and to train others to perform the task. Accounting systems demand more with regard to computer literacy but provides significant advantages such as helping organizations to handle more tasks in a timely and efficient manner. Accounting software is an important part of information technology, which relates to computer applications that enable a company to generate, store, program, and retrieve data as and when needed (Rampur, 2011). An example is an employee using an accounting...

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