Changes in Accounting

In: Business and Management

Submitted By lodancer09
Words 805
Pages 4
Changes in technology have led to new and improved digital information systems, and therefore changing the various aspects of the accounting profession. These changes include but are not limited to things like online banking, online bill pay, and plug-ins like the neat desk organizer. While some may not appear to directly affect the accounting profession, I will provide clear evidence that links them to the various changes in jobs like Forensic Accountant, IRS Criminal Investigation Special Agent, and Chief Financial Officer.
First of all, online bill pay allows customers of companies such as Verizon to pay their bill with a credit or debit card without ever swiping their card. You may ask how this is even remotely related, but companies store the information you put in on the payment page in an electronic file for each customer and the technology used to pay the bill also records the payment on the company’s end. This cuts out a lot of the paper trail and allows companies to store payment records with your personal information, and their financial records in one place without having to input the information multiple times in multiple locations. Having the information put in by the customer decreases the chances of transposed numbers and misspelled names when the information is input in the next system, and having all the information in the same database allows information sharing among the different systems. For the CFO, or Chief Financial Officer, having everything at the click of a button makes the job that much easier when you’re responsible for budget management, cost benefit analysis, and forecasting the needs of the company to obtain proper funding (supportingadvancement.com). A CFO can be found a number of places including banks.
Online banking would also fall under simplifying the CFO’s job. Online banking places the account information such as your…...

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