Effects of Technology

Effects of Technology

ACC 340

February 3, 2014

Effects of Technology

Technology has influnced the accounting profession, especially in a technolically advance society. The major effect of technology has been speed, as is the common expectation in organizations. With more regualations and laws regarding the accounting profession, an increase in the number of users with a vested interest in finaincal information of organizations have emerged. The "accounting information system must produce information for the needs of many users, in particular: the state and state agencies, lenders, suppliers, unions, management, supervisory board, shareholders and others" (Blazevic, Spanja, Tokic, & Tokic, 2011). With an influx of users, the focus has shifted towards time.

With the focus on time has increased, so has the focus on techonoly in equipment, software, education, and internet. Equipment would include the introduction of computers, and printers. This allows the accounting professionals a place to work directly on the reports and then the printers would allow this material to be mass produced in house. Software would include programs in which input may be recorded and then the desired output be collected. An example would be Excel, where the journal may be input and the output be the ending balances. Education would include training, and growth of knowledge pertaining to different areas in the profession. An example would include taxation, where a professional may gain more detail and understanding of the topic as to the relation to taxation. The internet now allows more collective meetings, without having everyone be in the same place. This would include the ablity to have multiple offices around the nation and have a meeting via a group worksite, like google documents. This is a space where the different departments are able to input the information on a main server, and then the information would is collected and cultivated by the accouting department. This has centralized the accounting department in some ways while it has also allowed for a decentalization of the department.

So with the advance in the techonolgy utlized by the accounting professional it reasons one would be able to promote the principles of accounting, include the accuracy and relavitiy to the reports. "Accounting is essential in making economic decisions" (Wongsim & Gao, 2011). The state indicates the quality of information rather than the quanity is important, and with techonoly one would see the ability to issue higher quality reports in a more timely manner increases the statement's truth. Accounting Information Systems (AIS) becomes the foucal point of businesses when needing to make decisions with economic impact. Not only the economic impact to the local community but the consumers of the organization's goods and services. "The modern market enviroment treats information as an extremely valuable resource that gives operators the ability to act in a certain way, or to transform the potential into real economic benefits" (Blazevic, Spanja, Tokic, & Tokic, 2011).

A way to increase potential real economic benefits would not be include only developing more traing or just increasing the funcitality of current software, but rather increase the techonology behind the software.Thus,