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Technological Improvements In Accounting - Online Term Paper

Technological Improvements In Accounting

Just like any aspect of life and any science or profession, the accounting profession has benefited from an infusion of new technology in the 20th century, technology that made the processes faster and more reliable.
We should start at the very beginning, with perhaps the first technological invention with a serious impact on accounting: computers. With the computer came such things as spreadsheets (initially Lotus 1-2-3, now the more popular Excel), spreadsheets that were more and more reliable.
If we consider, for example a balance sheet, we know that the asset value must be equal to the liabilities value. However (and I know this from experience), this never seems to happen when ...

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are correct. Hence, we may resume in saying that the spreadsheet, in the beginning a simple tool, but more and more complex as the time passed, was a first important step in using technology in accounting, bringing two separate things. First of all, faster calculations and, second of all, more reliable ones.
Another important new technology with a strong impact on the accounting profession was the database. Of course, nowadays we are all used to databases like Microsoft Access, but when they first appeared, they were a real step forward.
Let us consider accounting and see how databases improved the accounting activity. If spreadsheets made the process faster and more reliable, databases allowed the accountants to better organize and deal with the data and information collected. We should consider that the amount of financial data from a company is quite large and that it is more than probable that dealing with it may be a problem. Databases provided the means by which ...

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PAPER DETAILS

Added: 9/2/2016 08:08:22 AM
Category: Technology
Type: Premium Paper
Words: 732
Pages: 3

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