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Word Count: 355
Today more and more companies are moving from the manual accounting systems to computerized accounting information systems By using different technology we can increases the speed and accuracy of processing accounting information reduce the time spent on low- to non-value-added activities across the organization as well as enhance the organizations ability to make profit-enhancing decisions As information technology becomes more ubiquitous in business activities it has changed the way we process accounting information and prepare financial statements Lets use financial planning as an example In many organizations the planning cycle has become an exercise in futility The budget window can span eight-plus months and is plagued by sandbagging and stretch target setting Forecasts become a manual nightmare that may consume a big percent of the finance organizations capacity each month yet dont provide valid predictability to future earnings per share or other finance metrics By setting up new accounting software or accounting process redesign a lot of paperwork can be reduced in budgeting planning and forecasting activities across the enterprise The multiple process streams involving manual spreadsheets reconciliation re-keying and e-mails can be substantially reduced and create the opportunity to collapse the entire planning cycle My company had purchased new accounting software three years ago Our MIS Dept had spent over two years to revised it and connected it to our internal website Applewood All the employees now can log in the web and perform various type kinds of accounting and business functions For example we can perform functions such as account status inquiry funds availability inquiry check request inquiry invoice inquiry purchase order inquiry and vendor inquiry etc We can also download different kind reports and access all prior years data Information Technology is about combining the best technology available to process and manage information so that it can be used efficiently effectively within an organization Computers are capable of using programs to process data and performing arithmetic or logical operations to supply results
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