Accounting Information Systems

Ch 1 HW-ACCT 261

P1.1) Information technology is continually changing the nature of accounting and the role of accountants. Write a two-page report describing what you think the nature of the accounting function and accounting information system in a large company will be like in the year 2020.

When thinking about the future of accounting and the accounting function and accounting information system, it is hard to imagine what it will be like in the future. We have come so far in such a little time it is baffling. The year 2020 isn't that far off into the future if you actually think about it and so much is bound to change! Though as a side note, if I started thinking about the Mayan calendar and how they believe the world will end on December 21, 2012. If this is true, will there even be the year 2020 to look forward to?

I can remember my cousin, who is an accountant, doing all her work on paper and in a book. She always stayed late to make sure she wouldn't get behind on her work. Now ten years later ninety percent of her work is all on the computer. Not only does this save her time but it can also make things easier when automated. In the next eight years, I believe that ninety-eight percent will all be done on the computer. The only things that will need to be hand done or on paper will be backup copies in case something happens to the computer database. I expect large companies will only need maybe two accountants once everything is almost automatic.

In the past years, most large companies needed multiple people to deal with their accounting information system. They needed multiple people to gather the data and input it into the system using the accounting information system. Then the users looked at the system to form a decision or look at the information and figure out what to do with it. Now these days very few people are needed. I believe that all data will be gather electronically with minimal human effort except to run the data machines. There will be no use to have data analyzers because the accounting information systems should be so well created that it creates reports and other analysis information.

Accountants will need to be even more computer illiterate then they are now, this may bother the older generations but with the times changing they will be retiring and the younger generations who have grown up with computers will be taking over making everything computer ran or even able to do their jobs from their smartphone will be able to be linked to their office computer. This in return will make accountant's job very easy and require less of a time commitment. I'd love to be able to do my job from home if given all the data to my tablet or smartphone.

In conclusion, I believe that large companies will be getting rid of data analysis because accountants will be morphing their job with the analysis' job as well. I think there will be very little need for data collectors such as counting items in stockrooms and on shelves. Things will be able to be done from the accountant's home via smartphone or tablet. Older generations will be retiring making room for younger tech savvy accountants.

P1.2)

a. It requires an emphasis on being clear and concise because there is no immediate feedback from the audience on what information they are getting.

The preparer must attempt to identify the users/audience of the report, and to determine their values, beliefs, and needs. Then the preparer can determine the language. They must also consider the organization of the entire presentation. Logical organization and how they present the information will make the best outcome.

b. The different users of annual reports have differing information abilities, needs, and backgrounds. The annual report