Information technology has been adopted and implemented in various sectors especially in the current digital era where every transaction is conducted online. It is applied in business organizations, learning institutions, and many other sectors in the society. Considering the business sector, IT has been of great use to the accountants, as they can feed the figures into the accounting systems and the results generated without any challenge or difficulty ( Ranft et al., 2016 ). It is unlike in the previous times when the accountants had to deal with paperwork and manual calculations, which were tiresome and cumbersome to the accountants. Information technology has brought many changes in the current era and more changes are expected in future, which will improve and make the accountant’s work easier and efficient. Currently, some paperwork is still involved when performing some financial calculations but in future, data and information will be obtained, processed, and disseminated to the users through pure online methods without involving the paperwork and manual methods.
With frequent innovations made in the field of information technology, convenient and efficient accounting systems are likely to be developed. Such accounting systems can be installed in mobile devices, tablets, iPods, and any other portable device. Since most of the data and information in a business organization will be posted on the website of their website, the accountants will obtain such information using such devices. The data and information will be processed and disseminated to the users by posting on the company’s website ( Ranft et al., 2016 ). With the help of information technology and portable devices, users can access the results posted by the accountants on the company’s website. Most of the portable mobile devices are affordable and can be accessed by many users, which can be connected to the internet. Many people can access the financial information of the company without any challenge making the company be transparent.
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Ranft, J. T., Collins, S., Moriarty, K. A., & Baker IV, C. F. (2016). U.S. Patent Application No. 14/989,935 .