Accounting Information Systems

Running Head : ACCOUNTING INFORMATION SYSTEMS

Accounting

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Date It is a common knowledge how modern technology has revolutionalized business practices and activities . Transactional time lag has been reduced tremendously and efficiency improved to near perfection precision and accuracy have been brought to another level . This shall be focusing on the impact that technology has had on the accounting processes and practices . It will take a look at the various varieties of the modern technology that are leading to time reduction in transactional and

instantaneous record documentation

One of the most vital areas that technology has stepped in to improve is the time and billing system . Systems have been introduced that are able to capture store and analyze data in real time . An example is in daily time sheet entry , daily expenses , daily billing among others Today 's time sheets software applications have replaced the traditional based system . Introducing new systems to enter the amount of time that employees spend on a certain project in the least time possible This data is also instantly posted to the relevant departments . These applications have been found to be accurate and cost effective contrary to the traditional tools where data was entered on a monthly basis Examples of these tools are Microsoft , XP Remote , among others

Many firms would wish to see expenses recorded and stored as they are incurred . If this was to be done manually it would see a business entity committing a large portion of its staff to this strenuous and time consuming task . Today technology has changed all that by introducing a system that allows capturing of expenses on a daily basis as well as a fast expense reimbursement system . Real time capturing of time and expenses goes a long way in ensuring that there is a speedy billing of customers . The management of customers , invoices and sales becomes more effective . The effectiveness of the staff can also be analyzed on a daily basis based on the data records for the day

Clients are billed as a project is completed rather than the traditional end of month or end of year . The system also allows digital invoicing of the client without going through the traditional process of printing and mailing which is more time consuming and expensive . The publishing and delivering of company documents and reports for instance to the shareholders and employees have been made easy . The cost of delivery and printing is greatly reduced . The reports are put on the company 's intranet where they can be easily accessed by the relevant personnel . They can also be updated on a regular basis when the need arises (Roman H . Keplzyk , 2007

On the intranet too , firms can post daily updates on issues such as vacations . This would probably be informing the workers when their vacations are due and for how long . This is information that will be accessed online with no administrative guidance

The advances in accounting technology see the combination of vital input...