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Business Impacts of Computerized Accounting - Assignment Example

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INTERVIEW Date: 06 February 2012 To: Supervisor From: Name Subject: Business impacts of computerized accounting The interviewee Based on the primary requirement of the assignment, an interview was conducted with Mr. James Green on his experience in technology in his work place…
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Business Impacts of Computerized Accounting
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Download file to see previous pages He has always been willing and ready to offer any form of help. Company he works for Green works for Alliance for Arab women, a ‘non-governmental’ organization that operates in Cairo, Egypt. Alliance for Arab women is a human rights campaigner that spearheads fight for women’s rights and the identity of women in the society. Technology covered The subject of the interview was a recently implemented technology in the interviewee’s workplace. Having been an emerging technology in the developing countries and since his company just implemented computerized accounting a year ago, the interviewee promised to be fruitful in exploring business impacts of the technology. Even though his company is a ‘non-governmental’ organization, a ‘non-profit’ making entity, the experience that he has had with the technology is sufficient for drawing conclusions on the business impacts of the technology. Interviewee’s experience with the technology The interviewee has had sufficient experience in electronic technologies. Having graduated with a Bachelor of Science degree in information technology and taken an additional accounting course, Green has sufficient experience in technological applications in accounting. ...
The technology has facilitated work through easy accounting processes. Accountants have for instance been saved the agony of making double entries with respect to transactions because the technology updates entries on single recording of a transaction. This has particularly reduced chances of errors due to incorrect entry of figures in different accounts for double entry procedures. The technology has further enhanced accuracy in accounting as the use of software has eliminated errors that were previously encountered during entries and computations in accounts and statements. Application of the technology has also aided the works of accountants through its capacity to handle large amount of data. Unlike the manual accounting processes that are prone to confusion especially when the data to be handled is large, computerized accounting maintains precision and accuracy irrespective of the size of records to be kept and dealt in. The technology has also enhanced accuracy and reliability in accounting, as records are easily retrievable on demand. Drawbacks to the technology implementation Implementation of the technology faced a number of obstacles, both within the organization’s accounting department and the management. The accounting staffs were for instance reluctant to change to the new technology because of the required training that they would be subjected to. There were also reports of employees who had not been comfortable with computers and saw the technology as push towards reliance on computers. The management was on the other hand reluctant to implement the technology due to the costs that would be involved. First, the management would be expected to contract a firm that would determine and maintain the company’s hard drives ...Download file to see next pagesRead More
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