Technology in Managerial Accounting (Other (Not Listed) Sample)
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ACC501 MOD02 Discussion
Modern Managerial Accounting Techniques
Managerial accounting is changing rapidly as a result of technology and new types of enterprises. Below is an article that states the opposite (Talha et al, 2010).
How can we reconcile the two statements? What is a managerial accounting model? Read the article and comment on some aspect of the discussion in an attempt to shed some light on this topic. What are your thoughts at this juncture?
Talha, et al. (2010). A New Look at Management Accounting. The Journal of Applied Business Research. Volume 26, Number 4, July/August 2012.
It is not necessary to discuss every question or comment mentioned above. Choose one or two relevant aspects for further investigation and share your knowledge with the class. Try to add information not previously discussed by others. Please, provide factual information (not merely opinions) backed up by details or examples. Your comments should be in your own words and Include references in APA format.source..
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.
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