...The Effects of Technology on the Accounting Profession Paper Amy Everett ACC/210 December 7, 2015 The Effects of Technology on the Accounting Profession Paper The accounting profession has seen many changes with the advancements of technology and has given accountants with various tools. Examples of these tools include computer-integrated manufacturing, image processing, communications technology, the Internet, and software systems. These examples are a few of the many tools provided by technology and whose purpose is to provide more detailed and accurate information in a timely manner. Advancing technology allows companies to maintain more accurate financial records which are available at the touch of a key. While the advancements have benefited companies everywhere, it also creates new challenges for the accounting profession. Corporate Tax Network (2013) believes that the concept of the spreadsheet has allowed accountants to quickly make calculations with formulas, perform forecasting analysis, and create visualizations that show what the client’s finances and tax requirements from the past, present, and into the future look like. Computers, scanners, faxes, and printers have had a positive impact on the accounting profession. The software that is available makes efficient work of the figures that are reported and provides more accuracy as the calculations are done automatically. With the use of accounting software, the accountant can interpret the financial data...
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...EXPLORING THE CHALLENGES OF STRATEGIC MANAGEMENT ACCOUNTING IN POST GLOBAL ECONOMIC CRISIS ERA IN NIGERIA: IMPLICATIONS FOR THE NIGERIAN PROFESSIONAL BY BENNETT B. BENNETT UNIZIK/ACC/Ph.D./2011387014F DEPARTMENT OF ACCOUNTANCY, FACULTY OF MANAGEMENT SCIENCES, NNAMDI AZIKIWE UNIVERSITY, AWKA SEPTEMBER, 2012 TABLE OF CONTENTS Certification Approval Declaration Acknowledgement List of Tables Abstract CHAPTER ONE INTRODUCTION 1.0 Background to Study 1.1 Statement of Research Problem 1.2 Objective of Study 1.3 Research Question 1.4 Research Hypothesis 1.5 Significance of the Study 1.6 Scope and Delimitation of Study 1.7 Limitations CHAPTER TWO LITERATURE REVIEW 2.1 Historical Background 2.2 Conceptual Frame work 2.3 theoretical Frame work 2.4 Review of Current Literature CHAPTER THREE METHODOLOGY 3.1 Design of the Study 3.2 Data Collection 3.3 Method of Data Analysis CHAPTER FOUR DATA PRESENTATION, ANALYSIS AND INTERPRETATION 5.1 Summary 5.2 Conclusion 5.3 Recommendations 5.4 Suggestions for Further Studies Bibliography Appendix CERTIFICATION This is to certify that this research work was carried out by Bennett, B. Bennett of the Department of Accountancy Nnamdi Azikiwe University, Awka. _______________________ Prof. B.C. Osisioma Date. APROVAL This paper titled “Exploring the Challenges of Strategic Management Accounting in Post Global Economic Crisis Era: Implications...
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...1.0 ABSTRACT Managerial Accounting is tools for business decision making. The use of management accounting information is a key for organizational success. This essay will explain on the importance of managerial accounting process in organization to successfully carrying out the day to day as well as long term activities and goals. First, it describes how the evolution and change in managerial accounting. Second, the essay looks at the role of managerial accountants. Third, it explains several function of managerial accounting that tend to contribute the adds value to organization. 2.0 INTRODUCTION According to the Chartered Institute of Management Accountants ( CIMA ), Management Accounting is defined as the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information for both financial and operating used by management to plan, evaluate and control within an organization and to assure use of and accountability for its resources. The Institute of Management Accountants ( IMA ) defined Management Accounting is a profession that involves partnering in management decision making, devising planning and performance management system and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization’s strategy. Managerial accounting applies to all types of business such as service, merchandise and manufacturing. It also applies to all forms...
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...THE IMPACT OF COMPUTER-BASED ACCOUNTING SYSTEMS ON MALAYSIAN PUBLIC SECTOR AGENCIES BY WAN ZURIATI WAN ZAKARIA A thesis submitted to the School of Business and Law, Central Queensland University, Australia, for the fulfilment of the requirement of the degree of Doctor of Philosophy (PhD) MAY 2014 ABSTRACT The positive and negative impacts of information technology (IT) have been continuously discussed and debated by researchers, practitioners and scholars for several years. In the public sector environment, IT can be a powerful tool for improving the delivery of government services with better collaboration among various governments. Therefore, the Malaysian Government, similar to many other governments, has planned and implemented a number of programmes to embrace the digital world by transforming itself to deliver information and services electronically. In public sector audit and accounting practices, the Malaysian Government has experienced local reform aimed at escalating transparency, streamlining accountability and improving overall financial management in line with international standards and practices. The purpose of this study is to evaluate the impact of computer-based accounting systems (CBASs) on the effectiveness of performing accounting tasks by Malaysian public sector agencies (PSAs). This study focuses on the impact of performancebased outcomes at three levels: individual task, accounting-related task, and organisational level...
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...to enhance the efficiency, reliability and accuracy of financial reporting. Since its foundation in 1998, XBRL has been developing rapidly in the world. This paper teases out and discusses the literature researches of XBRL from 6 aspects: the production bases of XBRL, the effect of XBRL, the classification criteria formulation of XBRL, the auditing assurance of financial reports based on XBRL, the implementation of XBRL in different countries and some researches about XBRL in China, which reflects the current status of research about XBRL relatively fully. ------------------------------------------------- Keywords: XBRL, Auditing assurance, Classification criteria 1. Introduction XBRL is one variant of XML (eXtensible Markup Language) for business reporting. XBRL defines financial data on the web with explicit semantics in a machine-readable format, making automated data analysis possible. XBRL is a standard XML reporting language to enhance the efficiency, reliability and accuracy of financial reporting. Data in XBRL format does not need to be converted from one application to another because data are independent of applications by using standard tags for data items (Farewell, 2006). The financial information is presented to the public on the Internet usually in a static format such as PDF or HTML, the XBRL technology offers a way to have dynamic financial information. XBRL can support both financial and non-financial data contexts, which distinguishes XBRL from traditional financial...
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...The Australasian Accounting Business & Finance Journal, February 2007 Gaffikin: Accounting Research and Theory: the age of neo-empiricism. Vol. 1, No.1.pp. 1-19. Accounting Research and Theory: The age of neo-empiricism Michael Gaffikin, School of Accounting & Finance, University of Wollongong ABSTRACT The theorising in accounting prior to 1970 was rejected as not providing sufficiently general theories. Informed by theories in economics and finance (and other disciplines such as psychology) and with the aid of computers, attempts to theorise accounting took a new direction. Large data collection and analysis emphasized a purportedly more systematic empirical approach to developing theory. Key words: accounting; neo-empiricism; capital markets research; behavioural finance; efficient markets hypothesis; positive accounting theory INTRODUCTION Around 1970 there was a dramatic change in the approach to accounting research. Several reasons have been suggested for this change in methodological direction by those reviewing the development of accounting thought. To many, a major distinction is a change in direction away from attempts to prescribe a theory of accounting to developing theory from a description of extant practices. To advocates of the latter, previous attempts to develop a theory of accounting were futile as there could never be agreement over many of the inputs into a theory such as the postulates, principles but most specifically the assumptions. Although a...
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...EFFECTS OF COMPUTER ON THE ACCOUNTING PROFESSION NAMES MAT NO: OTOMEWO DANIEL WILLIAMS 6050 EKHATOR OSAYUWAMEN PRECIOUS 6951 ONI JOY ADELEMON 7029 EGBE PRINCE ISAIAH 7114 ODIASE PRECIOUS IYOBOSA 7033 EKUASE AUSTINE OSAMUDIAMEN 7031 ABSTRACT The aim of this study is the effect technology on accounting profession. The results of this study shows that technology causes decrease in book keeping. Also, it causes increase accuracy in accounting process, to shorten the time of providing reports, to decrease cost of gathering information, to improve reports in management accounting and to provide a background for executing techniques of costing. Technology has affected accounting profession in a great extent, in the sense that they need to acquire new skills like as applied software’s of accounting, excel and access. Also as it reduces book keeping and saving time, an accountants participation need to increase in the processes, planning, analyzing management. Therefore, it can stated that if the use of technology applied effective, it will be provide a better background for improving accounting profession and role-creating more suitable accountants in organizations. TABLE OF CONTENT INTRODUCTION BACKGROUND OF THE STUDY Technology over the last few decades has drastically changed the face of the accounting profession. For accountants, new technology is always trying to figure...
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...The media’s watching Vault! Here’s a sampling of our coverage. “Vault has become the go-to source for career preparation.” - Crain’s New York Business “The best place on the web to prepare for a job search.” - Fortune “Vault is indispensable for locating insider information.” - Metropolitan Corporate Counsel “[Vault guides] are an INVALUABLE CliffsNotes to prepare for interviews.” - Women Lawyers Journal “For those hoping to climb the ladder of success, [Vault’s] insights are priceless.” - Money magazine “To get the unvarnished scoop, check out Vault.” - Smart Money Magazine “[Vault guides] make for excellent starting points for job hunters and should be purchased by academic libraries for their career sections [and] university career centers.” - Library Journal Customized for: fugui Family (ffugui@gmail.com) University of California, Irvine Online Career Library Customized for: fugui Family (ffugui@gmail.com) University of California, Irvine Online Career Library s f b t= c o l j= qe b= ql mW= ^ a s f ` b= c o l j cfk^k`b Customized for: fugui Family (ffugui@gmail.com) University of California, Irvine Online Career Library molcbppflk^ip cáå~åÅÉ= mêçÑÉëëáçå~äë © 2008 Vault.com Inc. Customized for: fugui Family (ffugui@gmail.com) University of California, Irvine Online Career Library s f b t= c o l j= qe b= ql mW= ^ a s f ` b= c o l j cfk^k`b Customized for: fugui Family (ffugui@gmail.com) University of California, Irvine Online Career Library ...
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...improve the EHC financial situation, a consultant has been brought in to evaluate and identify the best alternatives by using simulation scenarios. In this example, I will be the consultant and use the simulation address three challenges, a capital shortage, the acquisition of medical equipment, and a capital expansion. The capital shortage is $900,000.00 and the goal is the find cut cost without significantly impacting staff and the quality of service that EHC provides to its patients to remedy it within one year. The cost cutting choices presented were: Reducing employee benefits, downsizing staff, cutting down on agency staff, changing the skill mix, or reducing length of stay. I chose to reduce the agency staff and change the skill mix. Both choices slightly impact quality of patient care and staff morale while reducing cost. Reducing employee benefits and downsizing staff would have saved more money, but it would have impacted the patients due to the reduction in personnel and negatively impacted staff morale. Reducing the length of stay would not have helped much since most of the costs are incurred during the first days, not the last ones. There were two options to choose from for the $1.5MM loan. Option one had an interest rate of 9.45%, a term of 12 months with no prepayment limitation. Option two had an interest rate of 9%, a term of 12 months and a prepayment limitation of 6 months. Despite the fact that option one had a slightly higher interest rate, I still chose...
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...Journal of Information Systems Vol. 16, No. 2 Fall 2002 pp. 209–222 Impact of Information Technology on Public Accounting Firm Productivity Rajiv D. Banker Hsihui Chang The University of Texas at Dallas Yi-ching Kao University of Wisconsin–Milwaukee ABSTRACT: In recent years, information technology (IT) has played a critical role in the services provided by the public accounting industry. However, no empirical research has evaluated the impact of IT on public accounting firms. This study focuses on five offices of an international public accounting firm that recently made large IT investments, primarily in audit software and knowledge-sharing applications. Both qualitative and quantitative information from the research site are analyzed to estimate the change in productivity following the implementation of IT. The results from both regression analysis and Data Envelopment Analysis (DEA) indicate significant productivity gains following IT implementation, documenting the value impact of IT in a public accounting firm. Keywords: public accounting; information technology (IT); IT productivity; IT adoption; data envelopment analysis. Data Availability: The confidentiality agreement with the firm that provided the data for this study precludes revealing its identity and disseminating detailed data without its written consent. I. INTRODUCTION dvances in information technology (IT) have transformed many firms in professional services industries, but perhaps none as much as those in...
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...formulation of team members of other entities with experience in Information Technology, Accounting and Management organization. The combined years of experience from the team will benefit any type of company that is in the market for a quality product whether the goal is to start a new company or change the direction and focus of an existing company. The JCRSK consulting firm will assist with a company’s short and long term objectives. The combined talents of the firm will produce immediate results for short term goals and a comprehensive evaluation to produce a long term plan will be formulated with positive results within a time frame of three to five years. As with all businesses, a company must continue to stay active in the market and educated on the latest technologies and work practices. All organizations must endeavor to grow and not become stagnant by using the same ideas and concepts for long periods. This notion is echoed by all firm members that are the reason the firm is the right fit for ones business needs. Thus technology is constantly changing and advancing; but the benefit will be to the company who takes advantage of the suggested technology that will advance the companies goals. JCRSK consulting firm will address the problems and issues in the areas of information technology, management, and accounting. In information technology area, the consulting firm will focus on technology implementation, installation, and network problems. The management...
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...Journal of Information Systems Vol. 16, No. 2 Fall 2002 pp. 209–222 Impact of Information Technology on Public Accounting Firm Productivity Rajiv D. Banker Hsihui Chang The University of Texas at Dallas Yi-ching Kao University of Wisconsin–Milwaukee ABSTRACT: In recent years, information technology (IT) has played a critical role in the services provided by the public accounting industry. However, no empirical research has evaluated the impact of IT on public accounting firms. This study focuses on five offices of an international public accounting firm that recently made large IT investments, primarily in audit software and knowledge-sharing applications. Both qualitative and quantitative information from the research site are analyzed to estimate the change in productivity following the implementation of IT. The results from both regression analysis and Data Envelopment Analysis (DEA) indicate significant productivity gains following IT implementation, documenting the value impact of IT in a public accounting firm. Keywords: public accounting; information technology (IT); IT productivity; IT adoption; data envelopment analysis. Data Availability: The confidentiality agreement with the firm that provided the data for this study precludes revealing its identity and disseminating detailed data without its written consent. I. INTRODUCTION dvances in information technology (IT) have transformed many firms in professional services industries, but perhaps...
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...CONVENTIONAL ACCOUNTING SYSTEM AND INFORMATION TECHNOLOGY: EXPERIENCES IN MY PLACES OF WORK. BEING A SEMINAR PAPER PRESENTATION IN ACCOUNTING AND INFORMATION TECHNOLOGY FOR MASTERS IN ACCOUNTING (MAC) DEPARTMENT OF ACCOUNTING FACULTY OF ADMINISTRATION SCHOOL OF POSTGRADUATE STUDIES AHMADU BELLO UNIVERSITY, ZARIA, NIGERIA BY: KALU NNANNA NWONYUKU JUNE, 2013 CONTENTS 1.1.1 INTRODUCTION 1.2.1 THE MEANING OF ACCOUNTING AND ACCOUNTING PROCESS 1.2.2 THE ROLES AND FUNCTION OF ACCOUNTING INFORMATION 1.2.3 BASIC ELEMENTS OF AN ACCOUNTING INFORMATION 1.2.4 BASIC ACCOUNTING POSTULATES AND PRINCIPLES 1.3.1 MEANING OF INFORMATION TECHNOLOGY 1.3.2 ADVENT OF INFORMATION TECHNOLOGY IN ACCOUNTING SYSTEM 1.3.3. THE IMPORTANCE OF INFORMATION TECHNOLOGY TO ACCOUNTING SYSTEM 1.4.1 INFORMATION TECHNOLOGY USE FOR AN ACCOUNTING SYSTEM 1.4.2 SOFTWARE FOR ACCOUNTING INFORMATION SYSTEM 1.4.3 FACTORS TO CONSIDER WHEN CHOOSING ACCOUNTING SOFTWARE 1.4.4 HOW TO CHECK ACCOUNTING SOFTWARE 1.5.1 MERITS OF COMPUTERIZED ACCOUNTING SYSTEM 1.5.2 DEMERITS/LIMITATION...
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...International Journal of Trade, Economics and Finance, Vol. 1, No. 2, August, 2010 2010-023X Factors Influencing Activity-Based Costing Success: A Research Framework Zhang Yi Fei and Che Ruhana Isa becoming more and more popular [3-7] ABC aims to provide accurate costing information to managers to allocate activity costs to products and services by applying cost drivers [8]. Academics who advocate ABC, such as, Cooper and Kaplan [9], and Swenson [10] argue that it provides more accurate cost data needed to make appropriate strategic decisions about product mix, sourcing, pricing, process improvement, and evaluation of business process performance. These claims have led many firms to adopt ABC systems [8]. The benefits of ABC and its positive impact on firm’s performance motivated a numerous studies which examined various aspects of ABC. Among such studies are McGowan [11] who assessed the integrity of ABC success, Innes and Mitchell [4, 12] and Yanren [13] who conducted research on factors affecting ABC adoption, and Shield [3], Shields and McEwen [14], Gosselin [15] and Baired et al.[16, 17]who concentrated on factors influencing ABC success especially at the implementation stage. However, there is mounting evidence that suggests most of firms are experiencing problems in implementing ABC and, in some extreme cases, ABC implementation is not successful [3], which later resulted in abandoning the ABC systems altogether [15]. Questions arise as to why ABC implementation is...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/0268-6902.htm MAJ 23,4 The impact of government and foreign affiliate influence on corporate social reporting The case of Malaysia Azlan Amran School of Management, University Science Malaysia, Penang, Malaysia, and 386 S. Susela Devi Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia Abstract Purpose – This paper seeks to investigate the influence of government and foreign affiliates, particularly; multinational companies on corporate social reporting (CSR) development in an economy, where CSR awareness is low coupled with weak pressure group activism. Design/methodology/approach – This is a cross sectional study that focuses on the information contained in the annual reports for year 2002/2003. This research uses content analysis as method to measure the extent CSR. Findings – Based on regression analysis, the study evidences on the impact of government influence. However, the impact of foreign affiliation variables is not evident. Institutionalisation of the government’s aspirations and commitment to CSR is perhaps the most appropriate description for Malaysian CSR practice. Research limitations/implications – There are two main limitations of this study. Firstly, this study examines the annual reports for one year. Secondly, this study is annual reports centric. It does not examine any other stand alone reports that the respondents might...
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