Accounting System Paper

Accounting System Paper

Pedro A Viorato

BSA/310

May 2, 2013

Paul Higel

Accounting System Paper

What role do accounting systems play in the modern enterprise? How has the development of complex IT systems affected accounting work? When it comes to accounting in an organization the use of the accounting systems plays a big role in today’s modern business. The use of today’s accounting systems allows for any business to accurately what their profits and losses are for a period of time the business is done. The use of accounting systems also allows the organizations to provide any external reports to investors, creditors, and any government officials. The use of such accounting systems also give the organization the ability to determine what will be the state and federal taxes the organization would have to pay at the end of the year. When organizations use accounting systems, it allows them to record all of their economic activities and all the financial data. Accounting systems have made a big difference in many organizations. Accounting systems allows all organizations the ability to gather internal reports which managers can use in order to calculate the expenses, payroll, receivables, and overdue payments (QuickBooks, 2013). It also allows them to keep really good control over the whole money the organization is making.

Discuss the need to integrate accounting systems with those in the rest of the enterprise. Why would such systems need to have constant data feeds from throughout the enterprise? The need to integrate the accounting system with the rest of the enterprise allows the organization to run more smoothly with only one accounting system instead of having two or three for the organization. This allows the organization to put all other programs aside such as spreadsheets, and many other manual systems and combine then into just one system. By integrating the accounting system with the rest of the enterprise it will give the organization the...