Verified Document

Information Technology Today Business World Is Changing Research Paper

Information Technology Today business world is changing rapidly. The cause of this is globalization, high IT investment and technological change in relationship with high cost of research and development (Frishamar, 2004). The function of information technology has become important part of how companies manage and control their resources, different companies and organizations respond to technology in different ways (Johnson, 2007). IT plays a significant role in modern business especially in looking at accounting function; it has transformed the nature of business and accounting practices where computers are used in recording data this results to time saving and enhances accuracy.

As we look into the technology of the future in accounting functions and accounting information systems our views collects what is near us that is, increase adoption of collaborative technology and the interchangeability of collaborative tools. Use of computing leads to the edge of what we can currently hold.

Many tasks in accounting have been automated, with advance in hardware, software technology. Accounting software has increasingly...

Accounting software used to be basic whereby bookkeeping transactions was simply processed for businesses but today because of technology accounting enterprise-wide software are incredibly powerful, complex and are able to collect a wide variety of data to support business decisions for large companies. They are also able to accommodate specific company information needs driven by some unique business processes.
FORCASTING 2020

Due to advancement in technology, the view of accounting function and accounting information system in the year 2020 is based on the adoption of technology and the contributions that come with it, that override the traditional ways of doing things. For instance in the year 2020 the business solutions will become a part of integrated enterprise accounting software programs called Enterprise Resource Planning (ERP)systems which include; financial functions integrated with sales, and distribution, human resource application in manufacturing. This will aid in processing all types of accounting transactions. It also enable the sales…

Sources used in this document:
REFERENCES

Frishamar, J. (2004) characteristics in information processing approaches.

Johnston, D.G (2007) studying the impact of information technology on role of how to manage accounting.
Cite this Document:
Copy Bibliography Citation

Related Documents

Information Technology
Words: 1052 Length: 4 Document Type: Essay

Introduction to Information Technology Information Technology (IT) is a vast and rapidly evolving field that encompasses the use of computers and telecommunications to store, retrieve, transmit, and manipulate data. From simple tasks like sending an email or using a smartphone to more complex operations like designing software or managing a network, IT has become an

Information Technology Case Bharti Airtel Is the
Words: 900 Length: 3 Document Type: Term Paper

Information Technology Case Bharti Airtel is the world's fifth largest telecom company and it is famous for outsourcing everything except finance, marketing and sales. In the early days Bharti used to do all the business processes itself and it used to cost much more. Then they came up with the idea of outsourcing everything and just keep the departments of core competencies. And they kept marketing because in today's world every telecom

Information Technology One of the Main Sources
Words: 1522 Length: 4 Document Type: Term Paper

Information Technology One of the main sources of development of human beings is through the development of knowledge and in this exercise; we shall be talking about a group in our society who are mainly interested in the development of knowledge -- a university. In these organizations also, information technology now plays an important role as the storage and transfer of knowledge within the organizations and from outside the organization. In

Information Technology's Impact on Quality
Words: 3529 Length: 12 Document Type: Research Paper

The need for continually creating and updating the security techniques and technologies involved in an enterprise system is the ethical responsibility of the IT professional. In order to successfully protect the information and intellectual property assets of a firm, an IT professional also needs to make a personal commitment to stay as current as possible on existing and future technologies (Pemberton, 1998). This commitment needs to be supported by the

Information Technology IT CSR Strategic Corporate the
Words: 1952 Length: 6 Document Type: Essay

Information Technology (IT) CSR Strategic Corporate The modern day businesses are more globalized based on which economic and corporate concerns have given rise to the concept of corporate social responsibility. The new economy has had a great effect on the knowledge that the stakeholders now have. One of the main aims of corporate social responsibility is that corporations being an important part of the society and communities must address various environmental and

Technology Changing Communication in Today's World How
Words: 733 Length: 2 Document Type: Essay

Technology Changing Communication in Today's World How Technology has Changed Communication Even though communicating can be just as easy being in front of your computer at home, it is still not the same as being in touch with others and having intimate relationships. Most families, who have upgraded technology in their homes for work and school, should prioritize their time to eliminate the barriers that social networking can create because it is

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now