Technology in Managerial Accounting

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Introduction
Over the recent past, changes have occurred in management accounting due to the advancement in technology which comes with new methods of accounting. The changes in management are aimed at providing management models that are able to evaluate the performance of the business for a competitive advantage. According to Garrison, Noreen, Brewer, and McGowan (2010) advancements in accounting systems create a business environment that is conducive to the future development of the organization. The accounting systems and technique change fast to cope up with the dynamic change in technology for accurate accounting of finances.
Technology in managerial accounting
With the change in technology the strategy and structure of the organization change for the improvement of practices in the business. The quality progress of the accounting systems provides proper accountability of funds in the organization as the resources are properly allocated by the managers for future progress of the business (Ashbaugh-Skaife, Collins, Kinney Jr, & LaFond 2008). The accounts information systems depend on technology for the achievement of the intended goals of the systems where the accounting activities are properly stated in the electronic accounting systems. The financial information is measured by the systems, analyzed and data stored in the electronic systems for comparison of past performance and present performance of the business considering the finances. Zimmerman and Yahya-Zadeh (2011) states that, the accounting systems which are technologically advanced provide information which is dependable by the management, shareholders and stakeholders in decision making. Technology provides equipment which makes accounting easier such as computer, the accounting software make accounting more accurate and advancement in technology provides security of the information that is confidential for the organization. Technology ensures that managerial accounting functions that are performed in a centralized area to make it easy and accurate for the calculating and reporting of the finances.
Managerial accounting models
Managerial accounting provides the needed information to stakeholders who are the external users of the information to make decisions that are standard. According to Hermalin and Weisbach (2012) reporting of the financial information requires to be summari...