The Evolution Of Technology For the Accounting Profession

Accountants know that business speaks with accounting. Over the years, this business language has gone through a variety of changes. However, with all of these changes, accountants have found that their jobs are just a bit easier. With the increased knowledge of technology, accountants are now able to analyze more statistical values and interpret more data more efficiently. Now, accountants have the ability to interpret business language with ease and today, the account is a very trusted business advisor. More businesses than ever before are relying on accountants.

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Accountants know that they must adapt to technological changes. As technology improves, so does accounting. Today, more than ever before, technology has evolved to aid the job of the accountant and improve their ability to analyze the statistical values that keep businesses thriving. Today’s accountant is a huge part of being the trusted business advisor that keeps businesses in the business.

Accounting Through The Ages

As far back as the invention of the abacus, people have been relying on calculations in business. While it wasn’t originally called technology, old-fashioned machines were created to keep track of mathematical solutions. With the advancement of the adding machine and the invention of the calculator, technology would quickly become available to ensure that business could advance more quickly. While accountants still had to maintain the numbers, they now had a means with which to keep track of said numbers and rely on more accuracy. Today’s accountant can identify, measure, and communicate all of the financial information via paper records, number columns, and handwritten statements. Accountants have had to be methodical and detail-oriented in order to be successful.

Near the end o the twentieth century, accountants began to take on a new persona. With the advent of computers and more accounting software, the industry would undergo a complete change. Programs like Microsoft Excel now utilized electronic spreadsheets that worked to ensure accuracy. Calculators, adding machines, pen and paper, were all eliminated and the job became far less demanding and had a lower margin of error. Core training that once included basic accounting, tax preparation, and auditing, were now a thing of the past. With the advent of the computer, accountants were now able to perform more statistical accounting and forecast the analysis using more efficient methods. Such technology has reduced the errors and the tedium of working with taxes. It’s allowed accountants to seek out new challenges with more to offer than simply a calculator.

E-Business, Intranet, And Extranet

Accounting professionals today understand how vital the internet is to their e-business. Using the internet, they can now execute major business enterprises. E-businesses now allow accounting firms the opportunity to coordinate their activities for internal management and combine this with the relationship with their client’s digital numbers. Enterprise applications are now part of corporate policy and they interact seamlessly with the Web Interface. They feature such things as internal documents, Codes of Ethics, e-mail, and search tools. It’s a great way to improve communication in an organization. Accounting Professionals are now able to communicate with other organizations with their newfound web technology. They can use the Extranet and give clients more access which can link them to a portion of the accounting firm’s Intranet which allows the business owner to import and export their files back and forth with the accountant. This can link them more efficiently with the company and help to reduce errors, miscalculations and reduce the time of travel costs and operational costs that once held them back. Thanks to modern technology, accounts today have more freedom and work more closely with their clients. The client feels more in control and is able to access all of their information when and where they need it by utilizing the new means of communication via the importing and exporting of files seamlessly. With such innovative methods, more businesses than ever are now outsourcing and using accountants to help improve their business and reduce the operational costs that once held them hostage.