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How Computerization Helps Make Accounting Practices Efficient and Credible by Jamie Shellman
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How Computerization Helps Make Accounting Practices Efficient and Credible |
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Business
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In an era when corporate practices have gone under scrutiny by authorities, media people and the public, the need for better handling of a business’ financial information has become more pressing. Accounting practices must now become transparent, efficient and credible, especially when stakeholders demand for them. One mistake could lead to huge repercussions for a business and the individuals managing it. Human error plays a huge role in the potential problems that flawed accounting practices could bring. Doing things manually can actually cause a person to miss out on some important details. Such omitted or misstated pieces of financial information can have consequences such as authorities questioning the business and stakeholders losing faith on the organization and its managers. To minimize human error and increase efficiency in doing accounting practices, various means are utilized by businesses and organizations. While manual means of doing accounting still persists, a lot of entities are now making a switch towards the use of computers and software. Aside from being a more affordable option, there is lesser human intervention if majority of the business management systems is computerized. The era of computerization has led individuals developing a variety of software geared towards performing accounting and bookkeeping functions. Deltek accounting software and other specialized software have been gaining the interest of businesses and organizations. They have been instrumental in ensuring that efficiency and transparency of accounting and bookkeeping practices are maintained. Aside from Deltek accounting software and other specialized software, information technology (IT) experts and other computer professionals keep on producing computer systems that can perform accounting and bookkeeping functions efficiently. These computer systems are very stable, decreasing the risk for error that can compromise the books of a business or an organization. The Internet-based ones can be accessed from anywhere provided that the necessary security features are installed. Accounting and bookkeeping practices are now being scrutinized by a lot of parties, all wanting to see efficiency, transparency and credibility. Thanks to Deltek accounting software and other products of technology, the building, updating and maintenance of the books of a business or an organization can now be performed with ease and clarity. Amidst an aura of doubt, businesses and organizations can bank on technology to maintain a tough, credible, efficient, and transparent face.
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