Many big changes have taken place in the accounting profession for times past years. Since 1494 when Luca Pacioli was crowned first man to describe a system that is comprised of debit, credits, ledgers, and journals, plenty of changes have taken place because of technological, economic, and numerous other advancements.

History has ensure thatAccounting startedin the times of Assyria, Babylon, Sumeria, and Mesopotamia. Its popularity grew really fast, and today, its all over the world. Every business today should need to use accounting to record its financial transactions and provide detailed financial reports as well as the stakeholders by using financial statements.

One of the main areas which have undergone plenty of evolution which happens to be the record-keeping part of accounting. Computers together with other technology gadgets have changed the character of accounting, it alsos for this reason that accounting has turned out to be a dynamic and quick-paced profession. One of the most important, and the most marked step along this evolution is when computer-based application packages started being used. It brought loads of changes by doing so created it much better to get financial reports similar tofinancial managementreports, debtors, and creditors reports among others.

Previous to computerized accounting

Until the start of computerized accounting, everything was finished the manual way, knowing that made it almost impossible to avoid mistakes. In an offer to correct those mistakes, work hours would be required for recalculation and presented big risks for fraud. Also, the image that an accountant had was that of a nerd, and not somebody who may also help an organization make crucial decisions. Finding out about for errors was also a hard and cumbersome process.

After computerized accounting

The usage of pencils, paper ledgers, and calculators was eliminated.

The margin of error was brought all the way down to an acceptable level.

The process of locating mistakes, in addition to correcting them became easier.

The speed that accounting jobs were done increased significantly.

Using computers has changed the role that accountants play from just being number crunchers. In the meanwhile, its the role and duty of accountants to recommend the best practices to the company management of businesses, suggest ideas for reducing costs and boosting profitability.

This growth managed to get it vital for those in accounting professions to formulate their interpersonal skills as opposed to just ensuring the numbers are correct.

Benefits used by todays computerized accounting environment

With computerized accounting, the total number of benefits that were achieved is enormous. Also, with technological advancements, other roles associated with an accountant came up, that role changes may be on account of some major shifts that have happened.

The main focus has shifted from record-keeping and generating reports as well as the interpretation of monetary figures.

Todays accountants are getting more consultants.

Accounting professionals are actually being employed in positions of decision-making in key organizations.

Conclusion

With the short pace for when technology is advancing, the accounting profession can also be adapting fast, and the longer term seems promising. Adaptability has become a vital quality that accountants be needing to have for his or her survival, and also remaining competitive in a sophisticated and dynamic environment.