The Impact Of Technology On Financial Accounting. - Research Paper Example

Only on StudentShare

Extract of sample
The Impact Of Technology On Financial Accounting.

It has been observed that, while, on one hand, technology proves to be an asset for a business organization, it leads to the increase in liability for the accountants. Some of the technological tools like manufacturing of products through computer integrated systems, internet, expert systems, image processing etc. have a positive impact on accounting by facilitating collection, recording, and communication of accurate information about the various business transactions in a timely manner. However, technology has a negative impact on accounting, too. With technological advancements, the risk of losing confidentiality and accountability of the financial accountants has increased. Technology has paved the way towards creating more opportunities for different fraudulent activities in financial and management accounting. Furthermore, there are some impacts of technology on accounting, which cannot be termed either as positive or as negative ones. The pattern of hiring in different organizations has changed considerably, and the training and educational pattern of accountants have also changed because of the technological impact on this sphere. ...
Download paper

Summary

Accounting profession has encountered a drastic change because of the technological advancements over the past few years. Initially, a lot of paperwork was involved in the accounting process, but gradually, with the advent of technology…
Author : jalenpadberg

Related Essays

International Financial Strategies
12 pages (3012 words) Essay
Impact of Data Warehousing and OLAP Models on Management Accounting
160 pages (40160 words) Thesis
Finance and accounting assignment: Advanced financial reporting & regulation
10 pages (2510 words) Assignment
Financial Advance accounting
8 pages (2008 words) Essay
financial n accounting
6 pages (1506 words) Essay
financial accounting theories in a real life
8 pages (2008 words) Assignment
Financial And Accounting Challenges Faced By Businesses From Emerging Markets In Meeting International Accounting Standards. Companies In Azerbaijan.
9 pages (2259 words) Research Proposal
scholarship essay
1 pages (251 words) Scholarship Essay
Case study
8 pages (2008 words) Assignment
Capital Budget
3 pages (753 words) Assignment
Got a tricky question? Receive an answer from students like you! Try us!