Trends In Accounting Essay

In today’s era, sufficient knowledge of technology is a huge advantage. Employers are now including “computer literacy” in their criteria for new hires. In this fast-paced working environment, with tight competitions, if you are not able to keep your pace with others, you will be most definitely left behind. Almost all kinds of jobs are now requiring applicants to have at least background knowledge of using computers, or technology in general. Architecture, Engineering, and Information technology are some of the best examples. Even the Accounting industry followed with the trend. As Maureen Link (“3G Technology Will Change the Way You Work” Pennyslvania CPA Journal (Spring 2003), p. 19) put it, “The accounting industry has always been paper-driven.

Accounting is used everywhere by anyone from an ordinary person, to small businesses to large companies. It plays an important role in a business for it determines the course activities and the outcome of cash flows. Basically, as

2). In a simplified sense, accounting is “an informational system that plans, analyzes, records, and reports financial information.” It is the heart of information of any business endeavor and its users. Accounting is done by accountants who record, summarize, analyze, and interpret detailed Accounting information in order to supply financial information to managers, owners, and other statement users which will be of help in making informed judgment and sound decisions. This field includes Financial Accounting, Managerial Accounting, and Taxation in which Accounting Information Systems (AISs) are widely used －for example, in areas such as payroll, accounts receivable, accounts payable, inventory, and budgeting. An Accounting Information System (AIS) can be defined as “a collection of data and processing procedures that creates needed information for its users.” According to Zenaida Vera Cruz-Manuel in her book entitled 21ST Century Accounting Process (2014), AIS