Accounting Software

ACCOUNTING SOFTWARE |
Accounting software in the new economy |
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In this report, the author has treated to give an explanation about what is an accounting software and furthermore how it has been applied by the companies in the nowadays. |
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CARLOS FERNÁNDEZ ASENSIO |
05/05/2011 |
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INDEX:
1. Introduction------------------------------------------------------------- Page 32. Accounting software--------------------------------------------------- Page 7
3. Evolution of informatics software for accounting----------------- Page 12
4. Adaptation of the accounting software in the business world--- Page 16
5. “The nowadays”-------------------------------------------------------- Page 20
6. Information processing inaccounting------------------------------- Page 21
7. Summary---------------------------------------------------------------- Page 24
8. Conclusion-------------------------------------------------------------- Page 26
9. References and Bibliography------------------------------------------Page 28…30

1. INTRODUCTION:

Fig 1: Source:http://www.chatswoodaccountant.com.au/wp-content/uploads/2010/06/accountingpic2.jpgThe World is changing every day and everything and everybody should take these changes and adapt to themselves with the aim of still “in the competition”, technology is becoming obsolete every day and with this there are a lot of business which disappear giving way to new business with modern technology which can meet market needs and therefore compete against other companies.
In this research, Iwould like to let you know how technology has been applied in business world, concretely, in accountancy. I will explain you why and how business people discovered that by creating accounting software they could improve this task within companies and saves time to spend on other tasks. Companies realized that those accounting software really worked and began to add them to their activities. Thesesoftware were a new era in “accounting technology” and made that the previous accounting system based on two books where the accountants made the annotation became obsolete. [14]
In this paper, also I will try to talk to you how this software has evolved from the beginning until nowadays from the part of informatics companies and also, on the other hand from the part of companies who use thissoftware.
Now, I will introduce you a little description of what accountancy is to help you out in understanding the whole research:
According to the definition that Wikipedia gives, “Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show inmoney terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is reliable. Accountancy is a branch of mathematical science that is useful in discovering the causes of success and failure in business. The principles of accountancy are applied to business entities in three divisions of practical art, named accounting,bookkeeping, and auditing”.[1]
Oxford English Dictionary (OED) defines accountancy as "the profession or duties of an accountant".
On the other hand the American Institute of Certified Public Accountants (AICPA) defines it as "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financialcharacter, and interpreting the results thereof."
Basing the introduction in which Wikipedia says, it would be good for you to know that today, accounting is because it drives the reporting financial information about a business entity to other groups of people. Accountancy, can be seen in two ways, the first one is that which concentrates on reporting to people inside the business entity, is...