...THE IMPACT OF INFORMATION TECHNOLOGY ON THE ACCOUNTING PROFESSION IN NIGERIA By: Idongesit Efiong Utah ABSTRACT This research focuses on assessing the impact of information technology on the Nigerian Accounting profession by examining four areas: Impact on the public and private sector, the challenges and reaction to the challenges posed by information technological innovation and information technologies enhancing effect on the Accounting profession. INTRODUCTION It is evident that we are in information driven age where information technology is a driving tool in the public and private sectors. The replacement of mainframe computers with personal computers which were affordable to most users has ushered us into an era of proliferation of information, speed of assess to and ability to disseminate information. The information technology revolution has brought about a drastic change in the business environment, its structure and the business process. Information technology has become a strategic tool that drives the strategic initiatives of organizations and businesses. Manual processes have been replaced with automated processes, routine bookkeeping and recording of financial information is being done electronically, and the ease and speed of transacting business has greatly increases. The accountant as a major player in the public and private sectors cannot afford to be left out. To function properly and competently the accountant must take the changes brought about by information...
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...INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH VOLUME 3, ISSUE 1, JANUARY 2014 ISSN 2277-8616 The Impact Of Accounting Information Systems (AIS) On E-Commerce Analytical Study-Service Sector-Jordan ASE Dr. Muhannad Akram Moqbel Abstract: study examines the effect of accounting information systems for listed companies in the services sector in the Amman Stock Exchange on ecommerce using three main aspects: The presence accurate accounting information system imposes on companies that the development of its methods to handle e-commerce, The effects on accounting information systems under the E-commerce will relate to influence the components of accounting information systems and the last one is The effects on accounting information systems under the E-commerce will change the resources of the physical and human resources companies. Keywords: AIS Accounting Information Systems, Service Sector, E-commerce, Amman Security Exchange ASE, Physical Resources, Human Resources. ———————————————————— 1 INTRODUCTION THIS study examines the effect of accounting information systems for listed companies in the services sector in the Amman Stock Exchange on e-commerce. As known the service sector in Jordan is the most important sector between another sectors in (ASE) , Therefore, the need arises to pay attention to this sector to see how technological development quotient, and particularly the presence of companies use accounting information systems, and with a process of ecommerce...
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...THE EFFECTS OF COMPUTER ON THE ACCOUNTING PROFESSION NAMES MAT NO: OTOMEWO DANIEL WILLIAMS 6050 EKHATOR OSAYUWAMEN PRECIOUS 6951 ONI JOY ADELEMON 7029 EGBE PRINCE ISAIAH 7114 ODIASE PRECIOUS IYOBOSA 7033 EKUASE AUSTINE OSAMUDIAMEN 7031 ABSTRACT The aim of this study is the effect technology on accounting profession. The results of this study shows that technology causes decrease in book keeping. Also, it causes increase accuracy in accounting process, to shorten the time of providing reports, to decrease cost of gathering information, to improve reports in management accounting and to provide a background for executing techniques of costing. Technology has affected accounting profession in a great extent, in the sense that they need to acquire new skills like as applied software’s of accounting, excel and access. Also as it reduces book keeping and saving time, an accountants participation need to increase in the processes, planning, analyzing management. Therefore, it can stated that if the use of technology applied effective, it will be provide a better background for improving accounting profession and role-creating more suitable accountants in organizations. TABLE OF CONTENT INTRODUCTION BACKGROUND OF THE STUDY Technology over the last few decades has drastically changed the face of the accounting profession. For accountants, new technology is always trying...
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...The Effects of Technology on the Accounting Profession Kaishia Johnson ACC/340 April 21, 2014 Judy Thomas The Effects of Technology on the Accounting Profession Accounting Information Systems are defined as a collection of data and processing procedures that create needed information for its users, and exists at the intersection of two important disciplines: (1) accounting and (2) information systems (Bagarnoff, 2008, pg. 1). Knowing and understanding accounting information systems will allow accountants to possess a level of proficiency from using computers and the specialized software required to prepare the necessary financial statements. This paper will describe how information systems are changing the various aspects of the accounting profession. A description of the variety of new technologies and their effect on the accounting process will be also being discussed. Lastly the paper will discuss how these technologies have changed the way tax accounting is performed at Jackson Hewitt. Information systems are changing the various aspects of the accounting profession because it has eliminated the need to create and store enormous stacks of paperwork that has to be kept track of for financial reporting. The effect of accounting technology has been positive for accountants and firms, resulting in financial reports that are constructed faster and contain fewer errors. Information systems are used by accounting firms and departments to store and...
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...Effects of Technology on the Accounting Advances in technology clearly have affected many ambiguous processes to simplify, efficiency, record or easy storage, and create accuracy of any manual process. The accounting profession is one of many which have clearly changed its innovative way of conducting and processing systematically, but its principles have stayed the same. Information systems (IS) or computerized technologies purpose is to create efficiencies and simplify the manner in which data is collected, stored, and processed. It also provides the corporation with easy access to reports, accuracy, and historical data. In today’s world of technology accounting process for any organization is easily captured in a computerized system. Organizations maintain information of sales, supplies purchased, accounts receivables or billing process, and accounts payable on computerized systems. This allows the sharing of data, whereas in a manual process the accountant would have to retrieve the information from each department and maintain records in a spreadsheet and manually calculating the totals. This manual process was tedious, time consuming, and had many gaps for errors. In our current technologies there are software applications that provide the accountant with the necessary tools to obtain the data, calculate the totals and generate reports. So how does the effects of technology effect accounting? It has a positive effect because it simplifies the process but adds new requirements...
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...The Effects of Technology on the Accounting Profession Eliot Sherman ACC/340 June 11, 2015 Michael Raponi According to Accounting Web, the next decade will see industries transition to a Cloud-enabled world where work can be accomplished anywhere, anytime. This will especially be true of the accounting profession, according to Intuit, as such tools as Cloud-connected smartphones and tablets will enable firms to provide clients with an "accountant in their pocket" at all times. In the modern age, technology is constantly evolving and this has an effect on every profession, especially accounting. Processes and procedures are becoming less manual and more automated. Accounting begun being all written and having hard copies as the only backup. Systems are becoming more advanced and powerful which allows them to aggregate large amounts of data. As time went on, new software and hardware allow calculations to occur more quickly and allow backup to be more readily accessible. As well, with accounting constantly changing, the standards and regulation overseeing the profession were as well. As well, a lot of companies in the early 2000s when the technology bubble was building, companies such as Enron and WorldCom tried to take advantage of lax audit rules and committed extensive fraud. This constantly requires technology to change to allow for it to be in line with what is required, specifically in relation to audits and GAAP. In this digital age, technology adapts and improves...
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...Effects of Technology on the Accounting Profession University of Phoenix ACC/340 Accounting Information Systems Effects of Technology on the Accounting Profession Businesses have become more competitive, consumers are more informed, and technology has changed the way the world communicates. Information technology (IT) and the resulting ‘information age’ are continuously impacting every facet of accounting. (Bagranoff, Simkin, & Strand-Norman, 2006) This paper will examine how accounting information systems (AIS) are bringing about changes within the accounting profession. Additionally, a variety of technologies and how they affect accounting practices at Exclusively Yours Salon will be discussed. Accounting Information Systems and the Accounting Profession Today’s business environment is marked by increased competition and the need for better and faster information for decision making. According to Bagranoff, Simkin, and Strand-Norman, 2006: Because IT now captures transactions, AISs can produce financial statements almost in real time. Of course, some of the adjustments that accountants must make to the records are not done minute-by-minute, but a business can certainly track sales and many of its expenses continually. (p. 15) Additionally, large amounts of accounting records are increasingly presented only in an electronic fashion. Companies are reporting their financial outcome quarterly and an increasing number of companies are transferring their financial...
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...The Effects of Technology on the Accounting Profession Paper Amy Everett ACC/210 December 7, 2015 The Effects of Technology on the Accounting Profession Paper The accounting profession has seen many changes with the advancements of technology and has given accountants with various tools. Examples of these tools include computer-integrated manufacturing, image processing, communications technology, the Internet, and software systems. These examples are a few of the many tools provided by technology and whose purpose is to provide more detailed and accurate information in a timely manner. Advancing technology allows companies to maintain more accurate financial records which are available at the touch of a key. While the advancements have benefited companies everywhere, it also creates new challenges for the accounting profession. Corporate Tax Network (2013) believes that the concept of the spreadsheet has allowed accountants to quickly make calculations with formulas, perform forecasting analysis, and create visualizations that show what the client’s finances and tax requirements from the past, present, and into the future look like. Computers, scanners, faxes, and printers have had a positive impact on the accounting profession. The software that is available makes efficient work of the figures that are reported and provides more accuracy as the calculations are done automatically. With the use of accounting software, the accountant can interpret the financial data...
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...1, June, 2010 2010-023X 103 Abstract—Nowadays the business world is changing at a faster and faster pace. The reasons given for this is globalization, highs information technology (IT) investments and the rapid pace of technological change. Organizations are responding in different ways and at different rates to the wide range of IT based opportunities and pressures. The purpose of this paper is to focus on the effects of IT related organizational changes on the management accounting function and to contribute to the body of knowledge about to what extent IT affects the ability to solve accounting tasks. The relationship between IT and accounting practices was investigated qualitatively using six case studies and we will measure the impact of IT on accountants’ tasks. The findings suggest a tendency for change and the decentralization of accounting tasks. Index Terms—Accounting, Accounting Information Systems, Financial Documents, Information Technology, Management Information System. I. INTRODUCTION Nowadays the business world is changing at a faster and faster pace. The reasons given for this is globalization, highs IT investments and the rapid pace of technological change in combination with escalating costs of research and development (Frishamar, 2002). The role of information technology (IT) has shifted over the last decades (Teng & Calhoun, 1996) to become an important part of how companies manage and control their resources. Organizations are...
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...The Effects of Technology on the Accounting Profession ACC/340 The Effects of Technology on the Accounting Profession Advancements in technology have allowed companies, small and large, to keep accurate financial records and eliminate paper entries. Technology has also allowed individuals in the accounting field the ability to interpret the financial information efficiently and effectively. With the introduction of the internet, a company now has the option to expand their business beyond a specific geographic area, and seek new opportunities for expansion around the globe. The introductions of new software programs, which can be designed to meet the specific needs of an industry, assist with the internal operations and profitability. While this new form of conducting business has been beneficial for an organization, it creates new challenges for the accounting field. Technology and Changes in Accounting Over the years technology has continued to provide valuable tools not only to a business, but to individuals who manage the financial aspect of the company. The introduction of the Microsoft Excel program allowed accountants to utilize an electronic spread sheet, eliminating pencil and paper entries as well as minimizing errors. As time advanced software programs such as Quick Books, Microsoft Money, and industry specific programs emerged. For smaller companies it allowed the business owner to have all financial information related to their company at their...
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...Effects of Technology on the Accounting Profession ACC/210 August 15, 2011 Effects of Technology on the Accounting Profession Technology, information, software, and even the machines used to input, translate, and interpret the data we enter are ever evolving at shocking rates. We must constantly stay on top of our skills in order to be able to navigate through the vast screens, shortcuts, functions, and utilities stored in these small computers that have the capacity to do what would take a room full of human brains to do in a fraction of the time. In a time where nearly every occupation can be automated, accounting is nearly no exception, but notice I did say ‘nearly.’ With a vast array of software programs, data collection methods, and forms of technologies to keep accounting professionals up to the minute on their financials, there is little reason to justify the use of the antiquated legal sized general ledger books anymore. By integrating AIS effectively in the manufacturing industry, the accounting department where I work has been able to promptly and accurately produce cost analysis reports for the machines we produce, determine our SG&A at any given point, and determine whether a customer’s credit can be extended based on their average days of payment. AIS are invaluable tools that are overlooked for the value that they truly add to an accounting department. An accounting information system is a system that combines traditional accounting practices such as...
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...Finance, Vol. 1, No. 1, June, 2010 2010-023X Information Technology roles in Accounting Tasks – A Multiple-case Study Maria do Céu Gaspar Alves Abstract—Nowadays the business world is changing at a faster and faster pace. The reasons given for this is globalization, highs information technology (IT) investments and the rapid pace of technological change. Organizations are responding in different ways and at different rates to the wide range of IT based opportunities and pressures. The purpose of this paper is to focus on the effects of IT related organizational changes on the management accounting function and to contribute to the body of knowledge about to what extent IT affects the ability to solve accounting tasks. The relationship between IT and accounting practices was investigated qualitatively using six case studies and we will measure the impact of IT on accountants’ tasks. The findings suggest a tendency for change and the decentralization of accounting tasks. Index Terms—Accounting, Accounting Information Systems, Financial Documents, Information Technology, Management Information System. I. INTRODUCTION Nowadays the business world is changing at a faster and faster pace. The reasons given for this is globalization, highs IT investments and the rapid pace of technological change in combination with escalating costs of research and development (Frishamar, 2002). The role of information technology (IT) has shifted over the last decades (Teng...
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...The Effects of Technology on the Accounting Profession Paper Over the years people have switched from filing tax in papers to filing tax online in matter of minutes. This has provided individual with software that will provide him or her with full access to filing his or her tax online. As people continue to newer year each individual will see many changes in the Information system field and these new technologies will makes everything easy for us. The following essay will discuss the variety of new technologies and their effects on accounting processes, ways technologies have changed the way accounting is performed at, and explain corporate accounting, accounting professional services, and audit firms. Over the years we have seen technology change the way each individual does business. Each year companies are introducing new software that allows business owners and accounting firms to create balance sheet, payroll, and bookkeeping in matter of minutes. Business has seen account software like QuickBooks, turbo tax and peach tree to makes the necessary credit and debit for business. One of the new technologies that an individual is introduced to in accounting firms are Intuits quick book and cloud system. Cloud system is a web hosting application located off site. The advantage of cloud system is that we never have to install any account software in the firm’s computer; instead companies install software and store data in a server that is in a different locating. These...
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...Effects technology has on the accounting profession Sarah Holly ACC/210 June 29, 2015 Sander Moran Effects technology has on the accounting profession “The number one benefit of information technology is that it empowers people to do what they want to do. It lets people be creative. It lets people be productive. It lets people learn things they didn’t think they could learn before, and so in a sense it is all about potential,” Ballmer (2001-2015). Accounting is the language of business. The way accounting is handled has changed so much through the years. Technology is always changing and making accounting better and easier. Technology has increased the efficiency and the accuracy in accounting as well as improving the security of accounting data and speeding up the process of the manual accounting tasks. The first attempt at something to assist with accounting was the adding machine. Once the adding machine was successful, the introduction of a calculator came into play. The calculator was designed to make information more accurate. Accountants still had to keep track of so much through paper and pencil because calculators and adding machines could not do it all. Near the end of the twentieth century, we were finally bringing in computers and different software that would help accountants with their many tasks. Microsoft Excel makes it possible for accountants to keep track of so much information by spreadsheets. This technological advance has made it possible to...
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...Accounting, Organizations and Society 28 (2003) 127–168 www.elsevier.com/locate/aos Management control systems design within its organizational context: findings from contingency-based research and directions for the future Robert H. Chenhall Department of Accounting and Finance, Monash University, Clayton, Victoria 3168, Australia Abstract Contingency-based research has a long tradition in the study of management control systems (MCS). Researchers have attempted to explain the effectiveness of MCS by examining designs that best suit the nature of the environment, technology, size, structure, strategy and national culture. In recent years, contingency-based research has maintained its popularity with studies including these variables but redefining them in contemporary terms. This paper provides a critical review of findings from contingency-based studies over the past 20 years, deriving a series of propositions relating MCS to organizational context. The paper examines issues related to the purpose of MCS, the elements of MCS, the meaning and measurement of contextual variables, and issues concerning theory development. A final section considers the possibility that contingency-based ideas could encompass insights from a variety of theories to help understand MCS within its organizational context. # 2002 Elsevier Science Ltd. All rights reserved. 1. Introduction The three purposes of this paper are to provide a review of empirical, contingency-based research as it has developed...
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