Accounting Research Paper—Technology Impactions

Topics: Information technology, Accountancy, Business Pages: 5 (1990 words) Published: September 10, 2013
Accounting research paper—technology impactions

With development of economics, people have been thinking about how they could increase the efficiency of working. Technology is one of the ways people figured out. It is the branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment, drawing upon such subjects as industrial arts, engineering, applied science, and pure science. Before the development of modern technology, there was the trade and barter system. Advances led to a skeleton of what we know as business today. People handled every aspect of running a business, even the responsibility of making machines work manually. However, the computer revolution sped up the pace of trade and commerce. The technological advances it created drastically reduced the cost of business operations and increased the efficiencies throughout an organization. The basic features of technology are: 1. Change; 2. Wide spread effect; 3. Self-reinforce; 4. Complex and amoral. 1. Change,

There were so many unpredictable fluctuations on technology, single tiny innovations may cause gigantic revolution of the whole industry. Also, the whole process is usually in a very high speed. 2. Wide spread effect,

Nowadays, Technologies are not only the tool for improving working efficiencies but also the factors which affect people’s ways of thinking and life styles all over the world. People’s living standard is also inseparable with the level of technology. 3. Self-reinforce,

all the technologies are facing different situations every day. No matter the results are satisfactory or not, the processes of solving problems would be references for their next situation facing the same thing. And the quality and speed of solving problems would be improved because they already have similar experience before. 4. Complex and amoral,

technologies are not individual issues, they are connected systematically. But notice that all the processes of technologies are based on specific algorithms or standards. So basically all the results should be correct and objective if all the factors have been taken into consideration. For operation of a company or organization, it is necessary to get money from investors. And for investors, they only care about repay. For this reason, they may want to roundly know about the status of company, so that they can inject funds into it. Accounting staff is the kind of roles that compile all the information about operation of the company and make a series of analysis. All the things that accounting staff provide to the management team should be objective and straight, by this point, accounting is perfectly matched with technology. (BONSÓN-PONTE, ANDONE , LUPAŞC & LUPAŞC, 2010) In practice, accounting staff advise managers about the financial implications of projects, and explain the financial consequences of business decisions. Further, they help formulate business strategy, they analysis help monitor spending and financial control while conduct internal business audits. When the company is facing other competitors, their work explains the impact of the competitive landscape. In the whole business, they bring a high level of professionalism and integrity to business. Accounting provides management with data needed to determine whether a business is at a loss or a profit, how much debtors owe, how much a business owes others, and other financial information. Accounting measures business transactions and as such can help steer managers in the right direction with solid information, not gut-feelings. Basically accounting is a tool for management to employ to help make sound business decisions on a timely manner. For instance, if by using accounting information, managers notice that the trend is for sales to decrease, then they can take measures to stop this trend. Maybe they need to change prices or decrease expenses to handle the...
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