Responsive systems accounting within a business has

Info icon This preview shows pages 3–4. Sign up to view the full content.

View Full Document Right Arrow Icon
responsive systems, accounting within a business has become as simple as pushing a button to prepare a financial statement. And although the accounting process has become simpler, the accuracy has increased and the errors have minimized. With the information age, businesses can now have a complete 360 degree view of how the money flows in and out with complete accuracy. With the growth of information technology, all parts of the business have seen positive impact and growth. Manufacturing plants have implemented systems into their machines to streamline the production process of their goods and lessen the total cost of raw materials and labor. But what difference does it make if the cost accounting system is not capable of keeping track of the raw materials being used? With information technology, businesses have been able to develop the activity-based cost system, which allows bookkeepers to allocate overhead funds more efficiently (IT Plus Education, 2009). This also pushes the manufacturing process to lean out even more, leading to higher savings for the business.
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern