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It is often claimed that the process of computerising accounting information systems (AIS) and telecommunicating accounting info - Essay Example

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It is often claimed that the process of computerising accounting information systems (AIS) and telecommunicating accounting info

But with the concept of globalization, the entire landscape of the accounting system in business changed. Every organization computerised their accounting system that reduced the work time considerably. Today almost every Multi National Company relies on Accounting Information system and telecommunicating of accounting information for running the business successfully and reaching clients all over the world (Carmona, Ezzamel and Gutierrez, 1998, p.28). Evolution of Accounting System In the early 80’s, the computers were used to solve only mathematical problems and limited application programs. With time the software industry changed rapidly, from character user interface to graphical user interface. In the 90’s, we no longer needed to remember large codes to execute simple instruction as the mouse came into origin. People slowly started to realise the potential of the evolution of computers and its application in any industry. At the same time the internet, previously the Arpanet was evolving and the telecommunication system too changed the entire scenario. With globalization more and more subsidiaries, branches, franchises emerged and companies began to operate internationally (Ionescu, Ionescu, Mihai and Cojocaru, 2009, pp.1-3). Such companies which operate in their home country as well as in the foreign countries are known as the MNC or the Multi-national Companies. The globalization limited the scope of traditional accounting due to several reasons. Firstly, keeping records of all thousands of transactions, daily, for all business and communicating them to all the head office and other branches became the first issue recognizing the need for evolution of the complete accounting process. The companies spent millions of dollars annually to maintain and communicate accounting the details to investors, directors, managers, exchanges, etc. Not only that but the amount of time spent on simple accounting of transactions increased many folds. Secondly, with increased globalization, the companies realised that different customers’ requirements are different and must be addressed separately to keep them interested in the company’s product. Thus the marketing process evolved which gave the concept of product diversification. Now, the finance managers realised soon that if the basic accounting details are not arranged and presented differently according to product classification, the company will not be able to manage successfully its operations. With time, not only the importance of product classification was realised, but also the other kinds of presentation requirements were too realised like region wise classification, country wise classification, etc. And these were needed to be communicated to the respective headquarters of the companies where the management and control exists. The decision generally flows down from the head quarters, but now a day organization are slowly beginning to adapt de-centralization. The market slowly changed from oligopolistic to perfect competition. This was mainly due to increased income of individuals and consequent rise in the demand of products. The organizations can no longer delay in the transformation and transfer of ...Show more

Summary

Accounting Information Systems (AIS) And Telecommunicating Accounting Information Table of Contents Introduction 3 Evolution of Accounting System 3 Computerising Accounting Information System and its Impact 5 Impact of Telecommunicating of Accounting Information 6 Addressing the Security Issues of Using Computerizing AIS and Its Telecommunication of Accounting Information 7 References 8 9 Bibliography 10 Introduction Every business, big or small, must maintain proper records of their daily transactions…
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It is often claimed that the process of computerising accounting information systems (AIS) and telecommunicating accounting info essay example
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