The Effects of Technoogy on the Accounting Profession

The Effects of Technology on the Accounting Profession

Jessica Y Hicks

ACC/ 340

Irene Branum

6/1/2015

The Effects of Technology on the Accounting Profession

 In today’s corporate world accounting technology is a very important part of almost every company whether big or small. A lot of people do not even think about much of a role accounting technology plays in running a business. Accounting information systems can make or break your company.

Utilization of Information Technology in the Retail Businesses  

To have success in the quickly changing business atmosphere we face these days, companies depend heavily on accounting technology to monitor details about their clients and stock. Target as well as many other companies all over the world depend on accounting technology to make their jobs easier and also helps them compete in their big box market. Software technologies for example Microsoft access databases allows businesses to search, receive, and order more products quicker and much more efficient. By having these systems in place it also allows for a quick turnaround from ordering a product for a customer right on the spot and them receiving it within a short window. Accounting systems also assists workers to become more efficient without having to verify and recount products manually. Accounting systems are also utilized in the human resources division of Target and other companies to help with clocking in their workers and also paying their workers at the end of the pay period. The systems automatically calculates an employee’s overtime and available holidays. There is no guessing necessary, this cuts down on confusion and increases accuracy. This also minimizes the time spent on any pay problems that might arise and also increases the time a business can spend on other problems a company may come across.

Accounting Technology’s Impact on the Profession

New technological developments within the accounting field have forced people in the profession to get more computer experienced in comparison to those that came before them. Nearly all companies these days have accounting information systems that do the same jobs that were done manually in the past. Those accounting technology improvements affects those accountants that came before, now the senior accountants are not up to speed with the new age technology. Sometimes with the new technology a company will pay for those who are not familiar with the system but then you have companies that will rely on those who do not have the knowledge to pay for classes themselves in order to still have a job with them. Sometimes the managers will have to train the other employees the proper way to use the new accounting information systems. In a retail store, the accounting systems are used to order, find and manage stock and the supervisors are responsible for training the rest of the employees on that particular system. Accounting software program is a significant part of information technology that relates to computer programs that let a business create, save, program, and access data whenever needed. Accounting technology certainly has made the accounting field more competitive and a lot easier to keep track of everything from payroll to your products.  With the accounting technology this also allows everyday people to do the same accounting work as those who actually went to school for it and it is their everyday job. When everyday people are able to grasp accounting systems this decreases the need for actual accountants.