Question and answer
how are information systems are changing various aspects of the accounting profession?
New technology in information systems have bought significant changes in accounting profession, practices and processes. [ It has increased the efficiency and accuracy in accounting and has speed up the process for manual accounting tasks, but also improved security of accounting data and increased transparency. Large organizations and multinationals are changing over to this new information
systems and technologies to carry out their accounting tasks on global basis. This information system has led to standardization not only among the different divisions, locations and offices of a single organization, but also on a global basis. Microsoft, Oracle for accounting has greatly reduced the time taken to prepare the financial statements and benefited auditors and accountants to complete and submit their statements in timely manner. MIS reporting has been made possible by Information systems only to take timely decisions. A new payroll management system from companies like Paychex has greatly improved payroll accounting and is a plus for accountants handling large payrolls. The new system allows accountants to collaborate and merge their work with accountants of the same company located at different location. The new Sarbanes Oxley Act has been the result of increased availability of quality information systems, without which, it is impossible for the companies to remain in compliance of these legislation. ]
Expert answered|emdjay23|Points 1927|
Question
Asked 7/21/2013 3:13:46 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
19,677,085 questions answered
Popular Conversations
y = –x + 2 for x = {–3, –1, 1, 2, 3}
Weegy: Here are some characteristics of grace and forgiveness: patience, kindness, mercy, unconditional love, empathy, ...
2/25/2015 8:56:53 AM| 4 Answers
Which verb form correctly completes the sentence? The traveling ...
Weegy: The traveling circus CAME to town last weekend.
2/25/2015 12:09:44 PM| 4 Answers
Find the midpoint of the line segment whose endpoints are (7, 5) and ...
Weegy: The midpoint of the line segment whose endpoints are (7, 5) and (7, 11) is (7, 8) User: Find the midpoint ...
2/25/2015 1:05:29 PM| 4 Answers
Evaluate the following expression. 2^-3 User: Simplify (x^4y)^3
Weegy: (x^4y)^3 is equal to x^12y^3. User: Find the product. y^4 · y^3 User: What is the square root of 48 in ...
2/25/2015 10:25:02 AM| 3 Answers
The phase change that is the reverse of sublimation is A. ...
Weegy: Boyle's law states that the volume of a gas is inversely proportional to its pressure if the temperature and the ...
2/26/2015 2:21:23 AM| 3 Answers
whats lush
Weegy: 1+1 = 2 User: whats in a heartbeat
2/26/2015 12:22:58 PM| 3 Answers
A ratio compares two numbers by division. True User: The ratio of ...
Weegy: When ratios are used in comparing units of measure, the units should be the same. User: In writing the ratio ...
2/26/2015 1:31:50 PM| 3 Answers
The People's Republic of China was proclaimed by on October 1, 1949. ...
Weegy: 1949. The exact date is October 1, 1949.
2/25/2015 12:54:19 AM| 2 Answers
What is a centrally planned economy User: What is meant by the ...
Weegy: In economics, the invisible hand of the market is a metaphor conceived by Adam Smith to describe the ...
2/25/2015 7:07:23 AM| 2 Answers
Weegy Stuff
S
L
P
L
P
P
Points 1024 [Total 7799]| Ratings 0| Comments 1024| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
P
P
Points 1016 [Total 16798]| Ratings 0| Comments 1016| Invitations 0|Offline
S
P
C
L
P
L
1
Points 593 [Total 7273]| Ratings 4| Comments 553| Invitations 0|Online
S
Points 572 [Total 911]| Ratings 5| Comments 522| Invitations 0|Offline
S
1
L
L
Points 395 [Total 7461]| Ratings 1| Comments 385| Invitations 0|Offline
S
Points 189 [Total 334]| Ratings 1| Comments 179| Invitations 0|Offline
S
Points 149 [Total 169]| Ratings 0| Comments 149| Invitations 0|Offline
S
Points 85 [Total 85]| Ratings 0| Comments 85| Invitations 0|Offline
S
Points 47 [Total 47]| Ratings 0| Comments 37| Invitations 1|Offline
S
Points 30 [Total 30]| Ratings 0| Comments 0| Invitations 3|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.