How do Accounting Information Systems affect accountants job scope
Speed and efficiency
Computerized financial information systems are faster and more efficient in processing data. Data is
entered once and can then be used and reused in compiling reports by clicking a button. The systems
enable accountants to access necessary information promptly by the click of a mouse. Unlike manual, the
accountants do not have to go through a pile of paper work in order to locate the information needed. If
a transaction needs correction, it can be easily done, with reports generated afterward at speeds. This is
never possible with manual accounting systems. Accountants are now able to perform their activities
more effectively and efficiently than before. For example, accountants can use software tools such as
word processing software to prepare reports, billings, memos, and financial statements. Software
automation takes the hard work out of some of accountants’ menial tasks.
Time saving and value added
When data is entered in an accounting system, manual or computerized, an accountant needs to classify
it in a detailed fashion. For example, a transaction could be a sales revenue or an interest revenue. Using
information systems, this classification process is easily accomplished with a drop-down menu from
which you choose the proper category. Accountants can also quickly generate reports involving
classifications. With a manual system, this process takes much more time. Apart from that, Cloud
solutions bring the power of automation to accountants’ practice. Automation streamlines their
processes, saving time for them. There is no more time-consuming data entry, no messing around with
complicated spreadsheets and no hunting through piles of paperwork to find documentation. Saved time
can be put into deeper client relationships and value-added business advice.
New responsibility
The role of accountant has expanded due to the development of the accounting information (AIS). AIS
has increased the volume and the complexity of the information. Accountants in AIS summarize the
results of a firm’s transactions and issue reports to help managers make informed decisions. The
accountants play an important role in developing and evaluating the standards of control and security of
the accounting system since they work closely with the designers of the system. Now, the responsibility
for accounting information systems design is divided between accountants and IT professionals. The
accounting function is responsible for the conceptual system, and the IT function is responsible for the
physical system. Hence, systems design is a collaborative effort.