Through the years, technology continuously evolves and change the people’s way of living. One example that technology had changed was the accounting practices of accounting professionals and students. There were a lot of softwares that had been discovered and developed to enhance the efficiency process of accounting. Most of the people think that accounting is complicated but as technology emerge, it presents an opportunity and can be a threat to those who are in this practice. Today, we often see students going to the library, borrowing books, studying it and reading it especially to college students because technology had already provided various tools that is significant to have more accurate and timely information but at the same time it challenges them to adopt and learn new routines that it brought to their accounting field. Therefore, technology in accounting provides effective accounting practices, efficient accounting techniques, and more accurate accounting information. In other words, technology has certainly changed the accounting study over the years. The main purpose of this research is to know the impact of technology to accounting practices of accounting students specifically, its effects on the practices, techniques and …show more content…
This was done in order to collect enough data concerning to the effects of technology to accounting practices. The prepared survey questions of the researchers generally sought answers about the behavior of the accounting students towards the impacts of the developing technology. This study would only give emphasis to the views of these accounting students. Their perceptions can be helpful in determining appropriate information to answer the general and specific research problems of the
The period between 1950 and 2000 displayed a remarkable change in scientific and technological innovations that ultimately impacted the U.S. economy. Advancements in computing, aerospace, and manufacturing allowed the U.S. to transform its economy and upgraded the standard of living. Today, this essay will evaluate the extent to which these innovations changed the U.S. economy by explaining the innovation’s contribution to economic growth. The growth of the computing industry was one of the main innovations that shaped the U.S. economy. The development of information technology (IT) allowed for more powerful and faster computers that allowed us to create new industries such as aerospace programs.
MGT 2224 Week 1 Reflection Paper Professor: Simon Tang Student: Yili (Julia) Zhu July 1st, 2023 During the first week of studying MGT 2224 Information Technology and IT Audit, I felt I was embarking on a captivating journey to the field of IT auditing. With my bags packed and classmates with me, I awaited to explore the whole audit universe. My 4-year undergraduate accounting study experience equipped me with knowledge of financial auditing. Throughout these years, I developed an understanding of examining evidence supporting the amounts and disclosures in the financial statements as well as evaluating the overall financial statement presentation.
As of 2014, 86% of adults over the age of 18 in the UK have access to the internet anywhere (Document 11). Technology is a highly controversial issue in today’s society. With an ever-widening gap in technological knowledge between generations, many like to argue that every flaw present in someone today is due to overuse of smartphones. However, these pocket-sized supercomputers we carry around with us allow us to broaden our horizons and experience the world in an entirely new way. While some say technology is taking away our ability to be human, it actually encourages connectivity, and allows for new forms of discovery and creativity.
Porcini’s Pronto Tom Aleso, who was the Marketing vice Director of the Porcini’s Inc., had a good idea of expanding the company’s business of operating the restaurants. He identified an opportunity in creating more full-service chain restaurants that would serve the highway travelers. It was a brilliant proposal since the only competitors that were serving the market then were a few people operating low-end fast food restaurants and small outlets. In fact, this augured well for Porcini’s full-service restaurants and there were signs that they would be embraced by the customers who needed full meals at the rest stations in the course of their journey. However, the biggest challenge that stood along the way was insufficient capital and lack of resources to start up the business, and there were concerns about the quality of the initial services.
22nd November, 2015 Laura Schim van der Loeff Academic and Study Skills Pros and cons of “cash-flow accounting” and those of “accrual accounting” Yuting Cui 10888217 In an entity, financial accounting, or bookkeeping is the tool used to keep track on financial activities. Users, for example: managers, stockholders, etc. use the result of financial statements to justify behaviors of the entity and make efficient decisions accounting to the data provided. With different basis, companies have various methods to do bookkeeping. Two methods mentioned in this paper are cash-flow basis and accrual basis accounting.
Every aspect of society is influenced by culture. The study conducted by Geert Hofstede in the 1980s serves as the basis or the starting point into understanding how different cultures of a society influence accounting. As stated by Young (2013), accounting is not just about numbers and preparing financial statements. It is called to be as the “language of business”, thus it has different rules, standards, principles and underlying assumptions for the preservation of the purpose of the profession. Furthermore, accounting is being influenced not just by internal forces but also by external forces.
The positive effects of the methods and strategies applied would primarily reflect into the last stage of TOC. It will determine how weaknesses are being altered into strengths towards performance development and effectiveness. As a relation to the study, the last step may determine how educational institutions and students were able to meet its goal of developing accounting skills to prepare graduates in the actual workplace. Step two and three will not be reflected in the paper but it will serve as the main purpose of the study conducted. The research aims not only to identify the strengths and weaknesses of the students but also to submit the results to the respondents for them to witness on the constraints which must be subjected to further enhancement and development.
Table of Contents Abstract: 3 Introduction: 3 Functions of an Accounting Information System: 4 Literature Review: 4 The Role of Financial Statement in Managerial Decision Making: 6 Accounting Information System related to Decision-making process: 7 Accounting Information on Decision-making Process: 7 Conclusion: 9 References: 10 Abstract: This paper discussed the extended normative model and supported through a longitudinal study. It is exploring the roles of Accounting Information Systems in an organization facing financial stages. Many teams suffer the various crises in different types.
Introduction Keeping record of activities and expenditures is crucial in personal finance planning and could really help in managing personal finances. This paper identify what is accounting and how does it help to manage personal finance, describes products of accounting and bookkeeping procedures that are useful in personal financial planning and how personal financial software could assist in personal financial decisions. What is accounting and how does it help you manage your personal finances?
My interest in Accounting stemmed from my optimistic expectation about career development in this field. Accounting is so important in the business world that only on the basis of accounting information, management is able to make investment decisions, and optimize internal operation. Thus, it is widely applied to every business sector. However, due to a strange combination of circumstances, I was matriculated by Biology and Medical Engineering College, instead of the Economic and Management College, in which I could accumulate the knowledge that would allow me to realize my career ambition. Changing major was not easy to operate in our university.
It is this that justifies accounting history as a crucially important academic discipline. “History, in itself is instinctive and indigenous to all of us” (Carnegie. et al, 2011), whether individuals know it or not, everyone’s decision making process is strongly based on past experiences, and the past is the key source resorted to whenever a decision is needed to be made. The same is applicable to accounting, the decisions made today in all practices and approaches are drawn from the historical developments in the accounting process, that have led the practice
According to Mostyn (2006), the word 'accounting' entails different meanings and primarily, associated to the word 'math'. He observed that when the said terms once mentioned, it can elicit bad experiences and childhood memories of students struggling with long division and fractions or putting off geometry homework during their elementary or secondary school. This could be the result why some students as much as possible are avoiding math in general. In addition, he stated that the mathematical concepts are indeed needed in accounting. It includes the use of whole number operations, decimal and rounding, percentage operations, fraction operations, conversion, positive and negative numbers, ratios and averages, basic algebra, order of operations and exponents.
In my day to day studying times, I can prepare accounts manually with the assistance of some videos on youtube and I am also planning to use a computer package to prepare restaurant accounts in near future. Moreover, I am lucky enough to have some basic knowledge about methods and principles of financial planning, instruments and mechanics of accounting, procedures and documents required for financial reports , methods and techniques of controlling finance, principles and instruments of auditing and methods and techniques of fraud prevention in financial
Task 2 2B Digital technology ¬– a health threat? We live in a rapidly changing, highly technological world, where the present day digital technology affects several parts of our lives. At work, people use digital technology to communicate, gather information and solve problems relevant to their place of work. A growing number of people also use digital technology at home, to keep in touch with friends and family, check bank balances, play interactive games, participate in online forums and interact with others on social media websites and mobile apps, such as Facebook, Twitter and Instagram.
The main important purpose of the accounting information system is to promote the activity of the enterprise and to form a reliable and real picture of it. In addition, the accounting information system promotes the activity of the enterprise effectively by preparing up-to-date information statements, providing as much information as possible so that the data should be understandable all users not only for the experts(bookkeepers) and tracking liquidity. Nowadays accounting software is a programme which makes accounting work processes easier and faster and which makes it possible to meet the information demand of the management. It also can support the accountants’ work, helping to compile reports by in helping to compile reports by recording and processing the events concerning the