The Main Function of an Accountant
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Added on 2020-04-01
The Main Function of an Accountant
Added on 2020-04-01
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EXECUTIVE SUMMARYIn conditions where technological advancements progress at a rapidity quicker, it is indispensable to inspect how this expertise effects the accounting vocation, in a manner which is similar to how it has had an impact on the other aspects of human life. Due to technology, the profession as an accountant has changed into much more than just book-keeping. It has now become far-fetched intopracticality which extends across all the departments of an entity which comprises of delegated functions, processing methodologies, controls and expected outputs which is known as “the systems”. It factors in all the scopes of how a business operates, which takes into account the flow ofeconomic statistics across the business and beyond. The paper also details about various problems such as how awareness and familiarity about information technology deal with the accounting professionals and how these professionals works upon enhancement of their IT skills with the help of vigorous training. Last but not the least, the report will also highlight the importance of gaining IT knowledge for an accountant. The paper is summarised by producing an overview basis the data collected and analysed. 2
Table of Contents1. INTRODUCTION41.1 RESEARCH AIM AND RESEARCH QUESTION42. OVERVIEW OF LITERATURE REVIEW53. INFORMATION TECHNOLOGY FOR ACCOUNTING PROFESSION64. METHODOLOGY85. ANALYSIS OF DATA86. DISCUSSION...................................................................................................................................................117. CONCLUSION.................................................................................................................................................123
1.INTRODUCTIONThe main function of an accountant has not altered over the years i.e. the main purpose or job of n accountant remains the same “stipulation of information on the financial recital of a company” and the said aim is attained by identification, recording, processing, storing, summarising and reporting various occurrences within an entity. The “system” which defines the extent, to which the accounting professionals’ job has extended from mere recording of the financial events to analysing the data, is in fact the framework of accounting which covers almost all the operational areas of the business (Mohamed & Lashine, 2003). The complication of these companies and computerisation have done that in many trades must be acquaintance regarding information technology and one of these is the accounting profession. The knowledge that an accountant gains about IT during the course of accountancy is general in nature and thereby they are required to get in depth knowledge about the subject by taking further training courses so as to add value to their general knowledge about the subject (Bassellier et.al. 2003). At present, accounting as a profession is closely related to the development of information technologies. The financial reporting formats have become so complicated that there has been seen a need for co-operation between the accounting professionals and the informatics (Ghasemi et.al. 2011). 1.1RESEARCH AIM AND RESEARCH QUESTIONThe main aim behind the said research is to give an overview to the fact that a professional accountant must have a theoretical knowledge about the subject, post which with the help of a field survey the said target will be noted as to how the accountants gain knowledge. Further to this, recommendation which would mention the steps, should be undertaken so as to increment their level of knowledge. The main problems being discussed in the said paper are as under:4
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