Graded The Effects of Technology on the Accounting Profession_Roberta Arnold.docx

A great accounting software for a smaller type

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a great accounting software for a smaller type business as you can set it up online for a small monthly fee ("Intuit QuickBooks," 2014). Microsoft Oracle for accounting has developed the software that helps greatly to reduce the time when it comes to preparing financial statements. Accountants can complete this task in much less time and much more accurately than if this entire process was to be handwritten and then typed out for a professional appearance. The software program Oracle, is suited for any size business from small to large enterprise. Oracle accounting can accomplish not only the most basic of accounting task but also can do this in multiple currencies. As with other accounting software there are features which allow the user to track the basic accounting procedures such as accounts payable as well as accounts receivable. Oracle is also able to keep track of the depreciation of assets, time and expense management, purchase orders and even recurring billing for those clients who have a monthly payment due. Many years ago I worked for an accounting firm doing the various bookkeeping duties for several clients. This process started out with keeping both ledgers and journals in a handwritten form. This information was then taken by an accountant who would transfer the numbers into a written financial statement. After the written financial statement was completed by hand, and checked several times for any errors, it was sent to a typist to be typed on a typewriter. The typed copy was then to be checked over more than once to be sure there were no typing errors that needed to be corrected. This entire process has been eliminated by the
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THE EFFECTS OF TECHNOLOGY ON THE ACCOUNTING 4 development of many of the accounting software programs that have been developed over the last twenty years. The Internet has also helped to speed up the transferring of information from business to accountant. This is accomplished by being able to send the information electronically via the Internet instead of making a back-up copy on either computer disc or CD and mailing it to your accountant. When this information is sent using the internet, it is encrypted so that any unauthorized access is prevented. Over the last few years many major changes have occurred in the use of accounting information systems such as, suspicious activity reporting, countering terrorism, corporate scandals and accounting, as well as the Sarbanes-Oxley and Patriot Acts. These changes have come about due to circumstances happening either in business or the world around us (Bagranoff, Simkin, & Norman,).
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  • Spring '09
  • Prof.S
  • Debits And Credits, Accountant, Double-entry bookkeeping system, Accounting software

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