computerized accounting

What Impact Does Technology Have On The Field Of Accounting?

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What Impact Does Technology Have On The Field Of Accounting? The biggest impact IT has made on accounting is the ability of companies to develop and use computerized systems to track and record financial transactions. IT networks and computer systems have shortened the time needed by accountants to prepare and present financial information to management.

What Are The Disadvantages Of Manual Bookkeeping?

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What Are The Disadvantages Of Manual Bookkeeping? Time consuming. Human error. No backup records in case of loss or damage. May require specialized knowledge to maintain. What are the disadvantages of manual record keeping? Takes Up a Lot of Space. The biggest downfall to manual document filing is the amount of space it can take