Computers in the Workplace

 Technology has helped accounting move forward, such as introducing artificial intelligence and the cloud. Instead of wasting hours upon hours performing tedious tasks such as data entry or multi-comparisons, also known as the grunt work, AI can run a simple computer program to generate the data quicker while reducing human error. Cloud technology allows accountants to work anywhere rather than in an office. Many believe that with advancing technology, accounting will be a thing of the past. Instead, accounting has adapted to technological advancements to increase transparency and creativity. Now, it has almost become a requirement that accountants have some knowledge of computer applications and can work with them extensively. The two main ones are Excel and Word. As technology advances, we can look at what accounting may be like in 10 years. It can really be hard to say, but it really depends on what company you look at. John Daly (2018) talks about two books written by Jim Collins called “’ Good to Great: Why Some Companies Make the Leap, and Others Don’t’ and ‘Great by Choice: Uncertainty, Chaos, and Luck – Why Some Thrive Despite Them All.’” In these books, you learn how the “Good to Great” companies avoided adapting to technology too soon. Instead, they carefully examined how technology would impact businesses and selected a few to help accelerate theirs. While the “Great by Choice” companies may have had a similar approach, they only adapted once the technology proved reliable. So technology may advance a lot in ten years, but it may take fifteen to twenty years before the accounting industry adapts.


Resources:

Daly, J. (2018). What Will Accounting and Finance look like in 10 Years? Illinois CPA Society. Retrieved by https://www.icpas.org/information/copy-desk/insight/article/digital-exclusive-2018/what-will-accounting-and-finance-look-like-in-10-years

Guerra, A. (Sept. 06, 2023). The Future of Accounting: Evolution in the Next Decade. URBE University. Retrieved by https://urbeuniversity.edu/blog/the-future-of-accounting-evolution-in-the-next-decade#:~:text=The%20Future%20of%20Accounting%3A%20Evolution%20in%20the%20Next,Accounting%20...%205%20Remote%20Work%20and%20Globalization%20

Higgins, M. (Apr. 14, 2022). The Future of Accounting: How Will Digital Transformation Impact Accountants? Forbes Retrieved by https://www.forbes.com/sites/forbestechcouncil/2021/05/19/the-future-of-accounting-how-will-digital-transformation-impact-accountants/?sh=35032f5853fb

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