How Accounting has been Changed Over Time with Technology

133 13 95 40 105.59 185 75 conv HOW 191 110.44 112.12 75 04 ACCOUNTING cuft 00 १4 5 6.58 18.98 5.9 2.84 HAS BEEN CHANGED OVER TIME WITH TECHNOLOGY 5.11 135.00 85.00 123.75 90 99.00 131.18 Accounting-Degree.org presented by: 108.00 LUCA PACIOLI 50. - 1494 - the first to describe the systems of debits, credits, journals and ledgers SUMMA DE ARITHMETICA, GEOMETRIA, PROPORTIONI ET PROPORTIONALITA 180 'Review of Arithmetic, Geometry, Ratio and Proportion' twenty-seven page treatise on double-entry accounting One of the first items to be published on the Gutenberg printing press Leonardo da Vinci was one of Pacioli's students in Milan. THE MODERN ACCOUNTANT Before accounting computer programs I After accounting computer programs Entries were done manually Eliminated calculators, paper ledgers, and pencils Stereotypical introverted/glasses-wearing/math nerd/pocket-protector image was perpetuated Lowered the margin for error Mistakes could mean hours of recalculation and "missing" money Made mistakes easy to find and correct Finding errors was tedious work Got the job done faster 1,216.900 EMPLOYED ACCOUNTANTS IN 2010 EXPECTED JOB GROWTH OF 16% $61.690 AVG ANNUAL WAGE 1 out of 5 work more than 40 hours a week COMPUTERS HAVE CHANGED THE NATURE OF ACCOUNTING denvato They turned it into a fast-paced and dynamic profession The beginning of the shift in accounting technology came in the form of simple spreadsheet programs: NO. UNT 414 VISICALC - 1978 9.75TOTAL "VisiCalc took 20 hours of work per week for some people and turned it out in 15 minutes and let them become much more creative." - Dan Bricklin, creator Upgraded companies from manually calculated spreadsheets. VisiCalc pioneered automatically updating cells QUICKBOOKS - 1998 Quickly dominated the market for day-to-day bookkeeping Over 80% of bookkeepers used Quickbooks The initial release raised a lot of security concerns that were remedied by the 2000 update: audit trails, double entries, better security features 4.5 MILLION COMPANIES USE QUICKBOOKS 5,700 accountants were surveyed about Quickbooks: say they've spent a significant 69% amount of time cleaning up client strongly agree that Quickbooks has given too errors within the program 46% The most popular accounting program in the US much control to client SAAS ACCOUNTING web-based "software as a service secure hosting locations for most companies, moving to the Cloud reduces IT expenses between 30% and 70% fizi çlients and accountants collaborate on the same information PEOPLE SKILLS have become just as important as keeping the numbers in check. Because of these automated programs, accountants have more time to: interpret data give good financial advice suggest smart business decisions be more involved in their client's business Now accountants are expected to recommend best-practices to management and suggest ways to reduce costs while improving profit. The stereotypical "task-oriented" accountant is as outdated as the TODAYS ACCOUNTANT HAS BECOME A BUSINESS "shoebox full of receipts" CONSULTANT RATHER THAN A MATHEMATICAL TOOL presented by: ACCOUNTING-DEGREE.ORG Sources: http://inventors.about.com/od/astartinventions/a/History-Of-Accounting.htm http://www.resgroup.com/how-computerized-accounting-systems-have-changed-world-numbers http://logica.ugent.be/albrecht/thesis/FOTFS2008-Heeffer.pdf http://community.accountantsworld.com/home/2011/7/8/did-quickbooks-break-client-accounting-the-poll-results-are.html http://www.articlesbase.com/education-articles/how-accounting-has-changed-with-computers-1740141.html http://accountantsone.com/jobseekers/CloudComputing.pdf http://www.ehow.com/about_5431873_computerized-changed-way-accounting-done.html http://www.journalofaccountancy.com/Issues/2011/Dec/20114555.htm http://inventors.about.com/library/weekly/aa010199.htm http://www.bls.gov/ooh/Business-and-Financial/Accountants-and-auditors.htm#tab-2 DEVELOPED BY N NOWSOURCING