Today's Global Market

In today's global market the need for efficient and reliable tools is of great importance. One such tool that has helped man is that of the computer. With advances in technology occurring everyday, the computer is still at the forefront of today's economic world. With the versatility to perform many different needs for different users, the computers future looks pretty bright. As an accounting major student, the accounting industry is one that is heavily immersed in computers. The technological advances of the computer have made what used to be long-drawn tasks into quick, simple calculations. Long gone are the days of complicated handwritten calculations. One such example of the computers impact on the accounting industry is that of the "Accounting Information Systems" or AIS area. AIS is an area of accounting in which some type of framework or program is used to process financial and non-financial transactions. The AIS area consists of three subsystems: the transaction processing system, general/ledger reporting system, and the management reporting system. In the second subsystem of financial reporting, is where traditional financial statements, such as the income statement, balance sheet, and statement of cash flows are generated. This subsystem is where this process has become automated with the use of computers. Rather than traditionally calculating these financial statements by hand the personal computer has taken over these responsibilities with a high percentage of accuracy. Long gone are the days of long drawn out calculations and interpretations. Tasks that use to take accountants hours to fulfill would now only take mere minutes. With the elimination of human error a more accurate assessment of a client's financial status may be interpreted. With less time calculating financial reports a more productive and efficient business environment is created for