Effects Of Technology On The Accounting Profession

Effects of Technology on the Accounting ProfessionTechnological innovations over the ultimo times 30 to 40 years comport greatly compound report system and finance activities , procedures , and policies ADDIN ENRfu . Although engine room is for certain not saucy to bill recent advances sw everyow adapted all aspects of the account statement function including : economic measurement , fiscal reporting , managerial planning and control , and auditing . The agency of engineering and computers within the presidency also has deviated . Local area (LAN ) and panoptic area (WAN ) entanglement activities , including the Internet and the many forms of Electronic craft and Electronic entropy Interchange (EDI , in addition to attempt Resource formulation (ERP ) and separate employments , have transformed the culture accou nting is through , calling into question the importance of traditionally valued accounting functions and skills (Lewis , 2003Technology depart be an integral element and vehicle for that change serving as a cognition-based depository . Intranet and Web-based software and applications leave behind be the foundation for this technology Technology allows many more highly diverse , geographically dispersed intellectually vary talents to be capitalized as resources of an discipline-age nerve . Network systems result a common language and database for communications , capturing critical factual data about external environments , and component part individuals find association sources and top problems . As soon as a firm takes its firstly steps from data to information , its decision processes and concern expression are transformedAs affairal helping firms , accounting practices are in the forefront of thisknowledge management . Accountants exploit their person-to-p erson knowledge and trainingcodify that know! ledge into explicit knowledge to be dual-lane by other members of theirfirms , and use that collective knowledge to provide value-added services to clients . Thecodification , memory , and communication of that knowledge rely to a great extent on innovativetechnologies . Although accounting has used technology for decades , the impact ofknowledge management on at once s organizations has elevated the role and application oftechnology to preeminence .

Technology is requirement to support the creation anddissemination of knowledge within members of global organizations as well as provideessential tools for decision support . This has created a renewal in the tasks done by accountants , the way information is elegant stored , and communicated , and ultimately the skills needed by accounting skippersEducators and professionals according to Lewis (2003 ) have long identified areas such(prenominal) as communication and analytic skills as necessary for succeeder in the accounting profession . With technology s strong perceptivity into the profession , other skills and qualities have become essential . specifically , technological improvement will be take of all entrants into the profession and will be positively related with professional success . Thus , the in the main accepted attributes fancied to lead to professional success (technical proficiency in the domain of a function of accounting ) must be supplemented to take on those attributes required to achieve technological proficiencyThe new post-industrial or information simulacrum of wealth creation is profoundly changing the way crease is being conducted , making traditional a! ccounting concepts and methods incapable to service this new model . The choices of the profession are , indeed , all to adapt to the new demands or to become irrelevantThe role of the...If you motive to get a full essay, order it on our website: OrderCustomPaper.com

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