Financial Information
How is technology affecting accounting?
The role of the business accountant has massively changed in just the last ten years. Prior to this change, accountants had to be experts at using the calculator and mathematical formulas, and did everything by hand. Because larger businesses and other organizations had so many figures to account for, having just one accountant was never enough so it was essential for just about every department to have an accountant.
Along came the computer and the internet and, as with everything, things changed. Changes were gradual at first, but when more and more companies began competing to make the most efficient accounting software, accountants who did not keep up with modern technology, were left behind. What used to require teams of people and hours upon hours of manual work, now takes one individual with less experience just a few hours using one of many types of software. There have been applications developed for every accounting niche from basic tax preparation software to government accounting software.
While some old school accountants are upset that career positions of the past have been replaced by computers and software, others are amazed at how much more efficient businesses are. Technology never stands still and in any business if you do not keep up to date with technology and software relevant to your business you will invariably suffer and lose ground to the competition. No matter what technology comes along there is always going to be a need for someone who can use that technology, so there will always be a need for businesses to hire an accountant.
Along came the computer and the internet and, as with everything, things changed. Changes were gradual at first, but when more and more companies began competing to make the most efficient accounting software, accountants who did not keep up with modern technology, were left behind. What used to require teams of people and hours upon hours of manual work, now takes one individual with less experience just a few hours using one of many types of software. There have been applications developed for every accounting niche from basic tax preparation software to government accounting software.
While some old school accountants are upset that career positions of the past have been replaced by computers and software, others are amazed at how much more efficient businesses are. Technology never stands still and in any business if you do not keep up to date with technology and software relevant to your business you will invariably suffer and lose ground to the competition. No matter what technology comes along there is always going to be a need for someone who can use that technology, so there will always be a need for businesses to hire an accountant.
