MPotter_Accounting Information Technology_071011

MPotter_Accounting Information Technology_071011 - I...

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Information Technology in Accounting Systems Page 1 Information Technology in Accounting Systems Melissa Potter Rasmussen College ACG4402/Accounting Information Systems Angeliki Javarinis, MBA, Professor July 10, 2011
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Page 2 Performing basic accounting functions have never been easier than they are today using information technology. Information technology has made keeping track of all the different parts of a business one of the simpler parts of running a business. It has enabled business owners to focus on the running the business and less on balancing the numbers. Information technology has also enabled businesses ranging from small sole proprietorships to large multi-million corporations to access information about the business by running a simple report and has reliable information at their fingertips to help them to make informed business decisions. Information technology has weaved itself into the accounting function of business and has become such an integral part of managing a business that most businesses would fail without its use. Information technology is used in the accounting function of most successful businesses. The accounting function includes more areas of a business than just paying the bills, posting receipts, and creating financial reports. The accounting function of a business also includes keeping track of inventory, identifying supplies needed, tracking fulfillment and shipping of customer orders, to tracking expenses on job tickets. Not only does it help to fulfill these business obligations, but it also helps management to acquire needed information in a timely fashion to make important business decisions. Information technology has automated the recording of transactions and has
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MPotter_Accounting Information Technology_071011 - I...

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