StudentShare solutions
Triangle menu

The Impact Of Technology On Financial Accounting - Research Paper Example

Nobody downloaded yet
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. ...
often we find that technological advancement has proved to be an asset for a business concern, but at the same time it has added to the liability of the accountants of the organization. As an instance, correct information is provided on a timely basis, but only at the cost of confidentiality. A few of the technological impacts on accounting are only changes in simple terms and can be termed neither as positive nor as negative. Hence, in a nutshell, technological advancements have neutral, positive, and negative impacts on accounting, but each of these impacts calls for the accounting profession to be in conformity with the changes. Positive Impacts of Technology The advent of various types of tools because of the technological advancement is quite obvious. It is one of the positive impacts of technology on accounting. Some of these tools are manufacturing process using computer-integrated system, the internet, communications technology, image processing, and the experts systems. All these are examples of few tools out of many, which have been designed to facilitate presentation of accurate information in a timely and detailed manner. Manufacturing processes in organizations using computer integrated system had an impounding effect on the cost accountants in the financial world. With the manufacturing process being automated, information is collected by the computers and reported instantaneously. This gives rise to a system of operational information which is characterized by the integration between manufacturing and other organizational processes like accounting and marketing. Activity-based costing systems are the results of this type of integration, which has a significant impact on cost accounting. Overheads are efficiently allocated by the accountants using this ...Show more
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Impact Of Technology On Financial Accounting Research Paper”, n.d.)
Retrieved from https://studentshare.net/finance-accounting/9966-the-impact-of-technology-on-financial-accounting
(The Impact Of Technology On Financial Accounting Research Paper)
https://studentshare.net/finance-accounting/9966-the-impact-of-technology-on-financial-accounting.
“The Impact Of Technology On Financial Accounting Research Paper”, n.d. https://studentshare.net/finance-accounting/9966-the-impact-of-technology-on-financial-accounting.
  • Cited: 0 times

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…
The Impact Of Technology On Financial Accounting
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the research paper on your topic
"The Impact Of Technology On Financial Accounting"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Accounting and Society
Companies considerably depend on the use of accounting. Accounting serves the role of universal business language. Without the use of accounting, it would be nearly impossible for companies to run their business affairs and continue doing business. It is this help of accounting and its relevant and applicable standards that have ensured the continued existence of companies in the most appropriate and applicable commercial terms throughout the different industries and businesses.
14 pages (3500 words) Research Paper
Masters accounting curriculum for international college
Accounting, which remains an important aspect of business, has also changed rapidly, making it hard for e accountants to perform well in their duties. It is thus important to make changes in the accounting curriculum to enable incorporation of new concepts required to operate in the modified corporate sector.
6 pages (1500 words) Research Paper
How has IT changed Accounting in the past 5 years
Accounting How has IT changed Accounting in the past 5 years? Information Technology has led to the creation of significant advantages for accounting departments. Computer systems and Information Technology networks have significantly made shorter the time that is required by the accountant for the preparation and presentation of financial information to stakeholders and management (Gelinas et al 56).
3 pages (750 words) Research Paper
Discuss the value of Information Technology and Management Information Technology to you and your chosen profession (mine is Acc
IT also employs different computer programs, including the software programming. On the other hand, closely related to IT is the Management Information Systems (MIS). These mainly include different methods, which base on technology, in people management and decision making in companies.
5 pages (1250 words) Research Paper
The Impact of Financial Crisis on Honda
 The case study of the impact of financial crisis on Honda car manufacturers is considered in terms of how the firm defines its core areas, evaluates its business methodologies and management philosophies, and conducts its diagnosis of management especially during a financial crisis which the world is facing now. 
21 pages (4000 words) Research Paper
Accounting Information System in Companies in Australia

The paper will also highlight the areas where the AIS need improvement such as poor quality information because it directly affects the decisions of organizations. By collecting the data from different organizations and in consideration to the previous literature findings, this report will evaluate the role of accounting information systems. 

6 pages (1500 words) Research Paper
Accounting and Society
Different accounting bodies came into existence in order to have globally uniform accounting standards. They can be used globally in a uniform application. In the year of 1970, Accounting Standards Steering Committee came into existence. And in the year of 2001, the
14 pages (3500 words) Research Paper
Accounting
On top of shortening the lead-time, it has also improved overall accuracy and efficiency of the delivered information. Its biggest impact on accounting in the past five years has been the ability of organizations to
3 pages (750 words) Research Paper
Accounting
8). This comprehensive information has been important in cost accounting, permitting accountants to embed function-based costing systems. These new
5 pages (1250 words) Research Paper
ABC accounting versus Traditional Accounting
Perhaps the main area that puts a clear distinction between ABC and Traditional Accounting (TA) is the approach whereby the latter was based on the product-cost while the former on the activities.
12 pages (3000 words) Research Paper
Comments (0)
Click to create a comment
Let us find you another Research Paper on topic The Impact Of Technology On Financial Accounting for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us