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…
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 …show more content…
Technology influences the accounting profession. Michel Foucault expresses that “power is everywhere” in his essay (Foucault 1). Power is a strong source, which is why it related to accounting. Power helps produce accounting concepts and with this power the accounting industry is able to evolve with the help of technology. When thinking about technology you should think of the term power. People tend to just think about computer systems when it comes to technology, but they have to realize that with technology comes power, which is why it has such a powerful affect on accountants. Technology is a very powerful tool. It can be extremely effective in many situations, including

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