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The Effects of Technology on the Accounting Profession 1
The Effects of Technology on the Accounting Profession

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The Effects of Technology on the Accounting Profession 2
The Effects of Technology on the Accounting Profession
The technologies in accounting systems have influenced how organizations conduct
accounting operations. Real-time billing and processes permit organizations to have live
accounting systems which process transactions based on the operations and transactions which
are gathered to update the financial/management accounting system. The process of completing
transactions influences the company´s profit, and loss accounts are identified throughout the
process; meaning there is no need to wait until the end of the month in order to evaluate the
performance of the business. Real-time reporting is IT´s influence on financial accounting´s
punctuality. Financial statements are processed in intervals so most large companies publish
quarterlies with comprehensive report produced annually.
The success of a business can be measured by monitoring transactions, and evaluating
corrective or preventative actions of continued transaction updating. Data or values, once
implemented, can immediately evaluate to compile projections and reports that are regularly a
form of secondary operations. Secondary operations are inexistent without functional AIS; some
of the generated reports may be useful in detecting or anticipating potential problem areas
including fraud or financial failure. Automatic financial audit trails are entirely possible, as they
can become automatic, immediate, reliable, and a standard for monitoring financial transactions
within the organization.
Source documents have evolved greatly from paper based documents such as orders,
invoices, digital documents, and deliveries. This allows order tracking and the process of
customer invoices as well as automated transfer of sales and purchases to physical statements. In

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 The Effects of Technology on the Accounting Profession The Effects of Technology on the Accounting Profession The technologies in accounting systems have influenced how organizations conduct accounting operations. Real-time billing and processes permit organizations to have live accounting systems which process transactions based on the operations and transactions which are gathered to update the financial/management accounting system. The process of completing transactions influences the company´s profit, and loss accounts are identified throughout the process; meaning there is no need to wait until the end of the month in order to evaluate the performance of the business. Real-time reporting is IT´s influence on financial accounting´s punctuality. Financial statements are processed in intervals so most large companies publish quarterlies with comprehensive report produced annually. The success of a business can be measured by monitoring transactions, and evaluating corrective or preventative actions of continued transaction updating. Data or values, once implemented, can immediately evaluate to compile projections and reports that are regularly a form of secondary operations. Secondary operations are inexistent without functional AIS; some of the generated reports may be useful in detecting or anticipating potential problem areas including fraud or financial failure. Automatic financial audit trails are entirely possible, as they can become automatic, ...
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