Accounts SBA
ACKNOWLEDGEMENTS
I would firstly like to thank Mr. Ifill, my accounting teacher for his assistance and guidance for the duration of this project.
I would also like to thank my classmates as well as my family for their encouragement and patience while I was preparing this study.
Finally, I would like to thank those employees who took the time to answer the questionnaires necessary to complete this assessment.
TITLE
The Impact of Technology on Accounting Systems
AIMS AND OBJECTIVES
The aims and objectives of this study are:
To discover how technology has affected the accounting aspect of business in Barbados;
To find out the positive and negative impact technology has had on accounting for business in Barbados;
To fully understand the extent to which technology can be used in accounting;
To satisfy my interests in this topic.
INTRODUCTION
This internal assessment focuses on the impact of technology on accounting. Accounting is the systematic process of collecting, recording, classifying, analysing and communicating financial information. Traditionally, accounts were prepared manually using ledgers, cashbooks etc. However in recent years, technology has played an increasingly important role in accounting and has changed the accounting systems. This has brought with it solutions to previous problems associated with the manual accounting system and it has also brought new challenges such sabotage of the accounting software.
Accounting methods have been around for many years, but double entry book-keeping only came into existence around the fifteenth century, when an Italian allegedly used it to “indicate mistakes in the Ledger”. Accounting technology has come a long way from the simple version of calculators to computers, point-of-sale systems and payroll programmes to name a few. This rapid influx of technology in recent years has had an impact not only on accounting but also on accountants as well as the way business transactions are
I would firstly like to thank Mr. Ifill, my accounting teacher for his assistance and guidance for the duration of this project.
I would also like to thank my classmates as well as my family for their encouragement and patience while I was preparing this study.
Finally, I would like to thank those employees who took the time to answer the questionnaires necessary to complete this assessment.
TITLE
The Impact of Technology on Accounting Systems
AIMS AND OBJECTIVES
The aims and objectives of this study are:
To discover how technology has affected the accounting aspect of business in Barbados;
To find out the positive and negative impact technology has had on accounting for business in Barbados;
To fully understand the extent to which technology can be used in accounting;
To satisfy my interests in this topic.
INTRODUCTION
This internal assessment focuses on the impact of technology on accounting. Accounting is the systematic process of collecting, recording, classifying, analysing and communicating financial information. Traditionally, accounts were prepared manually using ledgers, cashbooks etc. However in recent years, technology has played an increasingly important role in accounting and has changed the accounting systems. This has brought with it solutions to previous problems associated with the manual accounting system and it has also brought new challenges such sabotage of the accounting software.
Accounting methods have been around for many years, but double entry book-keeping only came into existence around the fifteenth century, when an Italian allegedly used it to “indicate mistakes in the Ledger”. Accounting technology has come a long way from the simple version of calculators to computers, point-of-sale systems and payroll programmes to name a few. This rapid influx of technology in recent years has had an impact not only on accounting but also on accountants as well as the way business transactions are
Bibliography: Teck, T., Wee, A., Eng, S., Chan, O. And Sinanan, R. 2008. CAPE Accounting. Caribbean Educational Publishers (NDA) Randall, H., Stephens-James, L., Lamorell, C., Francis, L