Effects of Technology on the Accounting Process

Essay by jmsmithx1University, Bachelor'sA+, September 2008

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Technology is constantly increasing and invades every aspect of a person's life. Accounting professions are no exception and even more so are affected by the information systems that are used within the accounting field. This paper will describe how information systems are changing the various aspects of the accounting profession and include a description of a variety of new technologies and their effects on accounting processes. In addition, this paper will discuss how these technologies have changed the way accounting is performed within the insurance industry at Allstate followed by a conclusion that recaps the major points of the paper.

A shoebox filled with receipts, an Excel spreadsheet, a Peachtree software suite, and other company integrated accounting programs are all examples of accounting information systems. Accounting professions no longer have to use a paper and a pen to complete tedious calculations, but accounting information systems do not only apply to computerized programs that manages accounting information.

As stated previously, a shoebox is such a system. Technology though has had a large impact on both the accounting professions and the accounting information systems that accountants use.

PDA's, cell phones, web conferencing, internet, and many other technological advances within the last few decades has allowed people from all professions to stay connected to clients, associates, and others in the fast paced world around them. This technology has allowed for accounting professionals to work on clients information around the world in travel or from the comfort of their living room at home. Technology has sped up the process of getting the needed information that a client needs to make their informed decisions. Web conferencing, similar to phone conferencing allows users on both sides to see presentations of what the host is displaying.

Professions within the accounting industry have had both positives and negatives...