“Your accumulated electronically with insignificant human exertion but

“Your
own business growth and success depends on many things, and along that growing
path, you are going to have to concede certain responsibilities and activities
– whether for your accounting, your production, or day-to-day management.”1
I can remember as a young child in the late 20th Century
watching my mother doing her accounting work. Everything as it relates to
recording journal entries, posting in ledgers, preparing trial balances and so
forth was just pen to paper. There were certain instances she had to stay back
at work long after she had gotten off just so the paper work did not become
piled up. During that time, there was very little use by employees with the computers.
Two advantages computers offer businesses are speed and flexibility. Accounting
functions are much easier to complete and require less labor when done by
computer. Repetitive double entry accounting functions are accurate and
accomplished quickly and easily.3 In the world today, we see that
information technology has become more and more advanced and has now impacted
the way accountants does their work.

Information technology, as it relates to the supporting
to Accounting Information System, has proven to have a positive impact on companies’
performance and productivity.2 In the year of 2020, which is not
very far from now, there is an expectation of large companies reducing the
number of accountants because most of the work may be automated or the implementing
a coding system to scan information on their computers. Presently in the
accounting field whether locally or abroad, there are a few individuals
cooperating to accumulate, process and enter information using the Accounting
Information System. At that point, you have only a couple of people who take a
gander at the reports from the information that was inputted and attempt and
make sense of what to do with it. Within the near future, I see not very many
individuals working in the accounting sector in light of the fact that
everything will be accumulated electronically with insignificant human exertion
but to run the information and made reports. In 2020, I would hope to see the
accounting capacity and accounting data framework utilizing better programming
and there be a superior inside control for everybody. Large organizations will
have more security measures in place in order to help prevent fraudulent
behavior and any other unethical practices in the accounting sector. The era is
arising now for millennials to take over the accounting sector in a digital way
because they have been brought up with modern computers and smartphones which
will enable them to complete the desired task at hand more efficiently.

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In future, mobile computing will become the norm for
large companies when it comes to most business transactions. Tax and
accounting firms now have access to an expanding number of mobile devices and
applications that can help them conduct daily business from outside the office.4
There will be more innovative thinking as it relates to mobile computing for
large companies going forward and the way we conduct business from a client to
customer standpoint will change dramatically. The mobile revolution, provided
via wireless technologies, brings impressive changes to civilization. It influences
many aspects on the way business is conducted, providing significant data in
real time and anywhere to help decision makers, influencing communications
between businesses and their customers, and transforming the way we live our
lives.5

In conclusion, for the near future ahead, data
analysis will be less demanding by larger firms because upcoming accountants
are now more computer illiterate and will be able to integrate their analytical
task with their regular task. There will be no need for physical counting of
inventory and filing because everything may possibly be done through computers,
tablets, mobile phones.

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I'm Harold!

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