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The Impact of Information Technology on Accounting - Accounting - 2021

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The biggest impact that information technology has on accounting is the ability of companies to develop and use computerized systems to track and record financial transactions.

All paper notebooks, manual spreadsheets, have been translated.

And handwritten financial statements into computer systems that can quickly present individual transactions in financial reports.

Most of the popular accounting systems can also be designed according to specific industries or companies.

This allows companies to quickly and easily create individual reports for managerial decision-making. Additionally, relatively easy changes can be made that reflect any economic changes in business operations.