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Posted: August 19th, 2022
Accounting information systems
Accounting information in business plays a significant role in the controlling and planning of business. Before making decisions, account information is responsible for being the reference and guide. Information tends to flow constantly within the organization. Members of the organization such as creditors, customers, suppliers and other stakeholders externally require the accounting information in their various managerial levels. The bigger the business the more information is needed hence the need for technology. The top three emerging technologies that will have an impact on the future of AIS involve social media, the internet and the IT equipment’s. Technologies like social media will allow the accounting firms to find engaging clients online while marketing their businesses while also monitoring a competitive landscape. Leveraging the digital platforms and mobile devices will reduce the capital costs and promote digital mobility opportunities. Integrating technological equipment’s such as computers will ease the work of information retrieval hence efficient service.
One of the major challenges facing the AIS domain is the technology integration because the integration requires strategic investments that would enable smooth migration and integration of the new technologies. Another challenge is the integration of technology causing job losses to the various employees. The technologies will impact the AIS in automating the AIS process thus freeing the staff. The technological trend in the AIS domain is also creating unqualified accountants who begin accounting with no experience whatsoever. The accountants with no experience possess a narrow skill sets yet companies seek them for professional help and guidance. However, the emerging technologies in the AIS system is also creating employment and consulting opportunities.
With the integration of technology in the AIS system, employment and consulting opportunities are set to emerge. The AIS system will expand to accommodate IT technicians and operators. The face to face procedure will be replaced by technological advancements which will replace the workers. However, the advancement is a challenge but an opportunity to the accountants with technological knowledge.
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