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Essay On Computerized Accounting System

1090 Words5 Pages

Introduction to IT
IT, short for Information Technology, can broadly be called the study and or use of computers to assist in retrieving, storing, transmitting and manipulating data. IT should not be confused with the use of solely computers. IT is concerned with the use of computers, computer networks, telecommunication technologies such as telephones and smartphones to aid in the activities of the organization. During the past few decades, the world has experienced a surge in the use and applications of IT in various fields including accounting, business and law.

IT in Accounting and Business
Accounting is a vital part of a firm irrespective of whether the firm is big or small. Before computers were introduced in the workplace, all transactions …show more content…

A computerized accounting system can help alleviate some of the stress off accountants back. The major appeal of a computerized accounting system is its flexibility, speed and usability. A computerized accounting system is much easier to use than the manual system. Data is inputted once and results are displayed almost immediately. There is no need to manual calculate the company’s costs or profits using a calculator. The computer does the calculations and much more such as profit …show more content…

Law is one sector where IT has not fully integrated in the day to day activities. One could say that law is not one which keeps up with trends and technological advancements in IT. The reason why IT is not exactly prominent in the legal sector is that traditionally, law firms have always been small firms run by partnerships or a small group of associates. In the past, law firms were mostly a seen as a place where one would go to seek legal advice. With increased competition and greater expectations by clients, law firms were forced to adapt and evolve with current trends. Law firms nowadays are more like businesses rather than the traditional legal advice giving partnership they once were. To a law firm, reputation is everything. Lawyers have no tolerance for failure and as such do not welcome IT in their workplace with open arms since they are wary of computer failures, data breaches among other risks associated with IT.. So how can the legal sector make use of

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