Effects Of Technology On The Accounting Profession

Effects of Technology on the Accounting ProfessionTechnological innovations over the gone times 30 to 40 years comport greatly compound report system and finance activities , procedures , and policies ADDIN ENRfu . Although engine room is certainly not saucy to bill recent advances sw bothow alter all aspects of the explanation function including : economic measurement , monetary reporting , managerial planning and control , and auditing . The agency of applied science and computers within the presidency also has deviated . Local area (LAN ) and panoptic area (WAN ) entanglement activities , including the Internet and the many forms of Electronic mercantilism and Electronic entropy Interchange (EDI , in addition to effort Resource formulation (ERP ) and separate natural coverings , have transformed the commi ssion accounting is through , calling into question the importance of traditionally valued accounting functions and skills (Lewis , 2003Technology depart be an integral fragment and vehicle for that change serving as a cognition-based down payment . Intranet and Web-based software and applications leave behind be the foundation for this technology Technology allows many more highly diverse , geographically dispersed intellectually vary talents to be capitalized as resources of an discipline-age administration . Network systems ply a common language and schoolingbase for communications , capturing critical factual data about external environments , and dowery individuals find association sources and top problems . As soon as a firm takes its firstly steps from data to information , its stopping point processes and heed expression are transformedAs affairal dish out firms , accounting practices are in the forefront of thisknowledge management . Accountants explo it their own(prenominal) knowledge and trai! ningcodify that knowledge into explicit knowledge to be overlap by other members of theirfirms , and use that collective knowledge to provide value-added services to clients . Thecodification , memory , and communication of that knowledge rely severely on innovativetechnologies . Although accounting has used technology for decades , the impact ofknowledge management on at once s organizations has elevated the role and application oftechnology to preeminence .

Technology is requirement to support the creation anddissemination of knowledge within members of global organizations as well as provideessential tools for decision support . This has created a renewal in the tasks done by accountants , the way information is elegant stored , and communicated , and ultimately the skills needed by accounting professed(prenominal)sEducators and professionals according to Lewis (2003 ) have long identified areas much(prenominal) as communication and analytic skills as necessary for triumph in the accounting profession . With technology s strong brainstorm into the profession , other skills and qualities have become essential . specifically , technological improvement will be required of all entrants into the profession and will be positively related with professional success . Thus , the in the main accepted attributes presume to lead to professional success (technical proficiency in the athletic field of accounting ) must be supplemented to take on those attributes required to achieve technological proficiencyThe new post-industrial or information range of wealth creation is profoundly changing the way problem is being conducted , making! traditional accounting concepts and methods incapable to service this new model . The choices of the profession are , indeed , any to adapt to the new demands or to become irrelevantThe role of the...If you take to get a full essay, order it on our website: OrderCustomPaper.com

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