Technologies and the Accounting Profession

In: Business and Management

Submitted By jamieradford
Words 1285
Pages 6
Technologies and the accounting profession
Jamie Lee
May 18, 2014
Carla White

Technologies and the accounting profession
Technology is changing at a constant pace. Within people’s lives, it has become the norm to have the newest and greatest in technology and everything it has to offer. The same goes for companies and the technology that they have. One of the differences is that those companies need to have the newest and greatest when it comes to technology. Their business depends upon it. If they do not have that technology, then the company is at a risk for not functioning at their utmost best, and could possible suffer or shut down.
Accounting professions are not new to the advancements of technology either. In fact, they are probably more affected by the new ways of technology. Just as mentioned before, it a business does not keep up with the advancing technology, then their future is not bright. With accounting, many of the same effects this profession. If they do not keep up with the changing times, their methods become outdated and slow.
We can go back to when the abacus was invented. It kept track of calculations in the business. Then the calculator was invented. This allowed for more accuracy with the number (Pepe, 2001). However, accountants still had to keep track of the business’s functions on paper. The process of measuring, identifying, and communicating financial information was documented by paper records (Pepe, 2011).
Then towards the end of the twentieth century, the accounting profession took on a new role. Computers and accounting software were being developed and brought about a new era to the accounting profession. Programs such as excel, gave the accountant an electronic spreadsheet that eliminated adding machines, ledgers, and pencils, their work became less tedious and there were fewer errors (Pepe, 2011).
As the…...

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