Effects of Technology on the Accounting Prfession

The Effects of Technology on the Accounting Profession

Accounting 340

June 29, 2015

The Effects of Technology on the Accounting Profession

Technology has changed our world in more ways than one. Every aspect of our lives has been changed or touched by technology in some form or fashion. The generation today is being exposed to technology that prior generations will not be able to grasp. In regards to the accounting profession, accounting dates back to around 10,000 years ago (Dumon, 2015). According to the author, because of growth in the middle eastern world, a need for a counting system became necessary. The purpose or need for accounting has not changed, but the way data is collected and presented has.

History

It is very hard to believe that accounting history associates itself with bible cities such as Jericho where bartering took place (Dumon, 2015). In those days, coins and envelopes were used to show entitlement and keep balances. The process of bartering is noted as one of the complex accounting systems (Dumon, 2015). Now that we have a little history down, the systems are still complex. However, standards and technology are added for proficiency.

As the world of accounting gets more complexed, so the need for advanced technology. There has always been technology in the world of accounting. Before continuing, let's look at the definition of technology. The definition is summed up as the scientific applications or methods used to acquire an objective or goal (The Free Dictionary, 2015). Technology has caused accounting technology to hold a crucial part of stabilizing and adding economic value to the economy. From the beginning of time, this was one of the purposes of accounting. The principles or purposes of accounting have not changed very much the concept is still the same. What has changed is the ability to get their faster and perhaps have a more accurate and precise picture of what is happening.

Our lives and economic health depend heavily...