Acc 340 Wk 1 Individual

Topics: Accountant, Application software, Certified Public Accountant Pages: 3 (823 words) Published: March 26, 2013
The Effects of Technology on the Accounting Profession
ACC 340

The Effects of Technology on the Accounting Profession
The adage, “Time is money” has never been more true at any point in history than it is today. For the certified public accountant (CPA), the adage holds even more significance as the more time a CPA has to spend in a project, the less valuable that project becomes. It also means less time to devote to the next project. Technology has aided the CPA in numerous ways in recent years. From accounting software to devices with accounting applications, CPAs have a variety of new technology to help save time and money. In this paper, I will explore some of the technologies available to CPAs. Accounting technology is not new, and has been a part of calculating and tracking numbers throughout time. From Leonardo da Vinci who designed a device he labeled the “Codex Madrid” number machine to Blaise Pascal who invented the first early calculator to William Burroughs who created the first adding machine, those who specialized in numbers have sought ways of making the tasks of their profession or hobby much simpler. As time passed, more creations emerged to help accountants perform their expertise more accurately and faster. The first computer was built midway through the twentieth century. For the nearly 50 years that followed, huge computers designed to perform the simple task of calculating mathematical equations were eventually scaled down to fit on top of desks in consumers’ homes and offices. The world of accounting went from manually inputting data into a ledger to using electronic spreadsheets that eliminated the need for ledgers, calculators, pencils, and adding machines. Out with the hardcopy and in with the software. Many years ago California-based Intuit launched a brand of accounting software called QuickBooks patterned after its popular personal accounting brand Quicken (Loter, 2009). From its launch the software has been very popular with...
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