Technology-based information systems have had a significant impact in many industries; accounting being no exception. Prior to the utilization of such systems within the accounting profession, data collection was manual, tedious, and time consuming. Because of the nature of such methods, mistakes were commonplace and additional quality control checks were necessary to eliminate errors. This required additional manpower, and, oftentimes, a higher degree of skill.
With the advent of modern day, computer-based information systems, data collection became more mechanized with computers being able to merge data of differing formats into a single, ...
This solution discusses technology based information systems and provides examples of their impact on accounting processes in business in 359 words. Two references are provided to aid in the understanding of the solution.