Technology And Technology: The Evolution Of Technology In Accounting

2360 Words 10 Pages
The theory of accounting has been around for thousands of years. Accounting, also known as the language of business, is an information science used to collect, classify, and manipulate financial data for organizations and individuals, which has changed a lot throughout time. This field was established in 1494 by Luca Pacioli, an Italian mathematician. Throughout all these changes that have occurred since 1494, technology has become a major part in an accountant’s job. The advancement of technology gives accountants the ability to interpret the language of business with such ease that the accountant has become a corporation’s most trusted business advisor. Technology is the application of scientific knowledge for practical purposes. It has the …show more content…
For a business to appropriately work, compelling strategies for correspondence among owners, managers and investors are key. Technology fills the need for advancements in accounting. It makes it easier for accountants to make records and procedures monetary data into an effortlessly open arrangement that can be comprehended by any individual in the business world. In the article, “How Could Language Have Evolved?” by Noam Chomsky, Chomsky states that “language is a computational cognitive mechanism that has hierarchical syntactic structure” (Chomsky 3). This quote gives an idea of how accounting, the language of business, can relate to computer usage. The use of different technologies, including computers, gives structure and understanding to accountants and their profession. Technology helps to improve the accounting industry by allowing accounting to be done more efficiently. Technology has a responsibility to apply a thorough knowledge of the theory of accounting, which allows accountants to keep up with their work at a steady …show more content…
Entries are the logging of transactions into accounting journal items. “When a small business makes a financial transaction, they make a journal entry in their accounting journal in order to record that transaction. The transaction is recorded in the general journal or one of the special journals for the most active accounts” (Peavler). An accounting journal is a detailed record of the financial transactions of the business and with the availability of computers these transactions are much easier to manage. Not only is it saving time but with saving time you can get to more customers. Computers in this profession is keeping customers happy because they do not have to wait as long as they use to get their financial statements

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