Information Technology Today Business World Is Changing Research Paper

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Information Technology

Today business world is changing rapidly. The cause of this is globalization, high IT investment and technological change in relationship with high cost of research and development (Frishamar, 2004). The function of information technology has become important part of how companies manage and control their resources, different companies and organizations respond to technology in different ways (Johnson, 2007). IT plays a significant role in modern business especially in looking at accounting function; it has transformed the nature of business and accounting practices where computers are used in recording data this results to time saving and enhances accuracy.

As we look into the technology of the future in accounting functions and accounting information systems our views collects what is near us that is, increase adoption of collaborative technology and the interchangeability of collaborative tools. Use of computing leads to the edge of what we can currently hold.

Many tasks in accounting have been automated, with advance in hardware, software technology.

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Accounting software has increasingly become sophisticated and customized for specific company needs. Accounting software used to be basic whereby bookkeeping transactions was simply processed for businesses but today because of technology accounting enterprise-wide software are incredibly powerful, complex and are able to collect a wide variety of data to support business decisions for large companies. They are also able to accommodate specific company information needs driven by some unique business processes.

FORCASTING 2020

Due to advancement in technology, the view of accounting function and accounting information system in the year 2020 is based on the adoption of technology and the contributions that come with it, that override the traditional ways of doing things. For instance in the year 2020 the business solutions will become a part of integrated enterprise accounting software programs called Enterprise Resource Planning (ERP)systems which include; financial functions integrated with sales, and distribution, human resource application in manufacturing. This will aid in processing all types of.....

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"Information Technology Today Business World Is Changing" (2012, July 10) Retrieved June 27, 2025, from
https://www.aceyourpaper.com/essays/information-technology-today-business-world-69540

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"Information Technology Today Business World Is Changing" 10 July 2012. Web.27 June. 2025. <
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"Information Technology Today Business World Is Changing", 10 July 2012, Accessed.27 June. 2025,
https://www.aceyourpaper.com/essays/information-technology-today-business-world-69540
   

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