StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Value of Information Technology and Management Information System - Research Paper Example

Cite this document
Summary
This paper 'Value of Information Technology and Management Information System' tells us that IT refers to the utilization of computers and networking in the process of data storage, processing, retrieval, protection, and transmission. Additionally, IT also employs different computer programs, including software programming…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Value of Information Technology and Management Information System
Read Text Preview

Extract of sample "Value of Information Technology and Management Information System"

On the other hand, Accounting is an important aspect of all companies. Unlike IT and MIS, Accounting has been in existence for the longest time. This mainly addresses the financial state of a company. It involves bookkeeping, which involves bank statements, company ledgers, and the overall tracking of finances in the company, including money in, money out, and business assets.

Today, there is a high level of interaction between different disciplines. Similarly, the fields of accounting, IT, and MIS show a high level of interaction, as the field of accounting adopts the skills and knowledge of IT and MIS in its processes. Nonetheless, the nature of IT and MIS make them applicable in diverse disciplines. This paper, therefore, will focus on the value of information technology and management information systems in the field of accounting.

The field of accounting today has become dependent on information technology and management information systems, as it adopts various elements in these, to enhance the efficiency of its processes. In information technology, there is a myriad of new integration approaches, as well as effective methods of managing data. Therefore, the use of information technology translates into increased efficiency in data retrieval and storage, and overall management of data in accounting. Therefore, this aspect of information technology is valuable in accounting, since it makes the different procedures and processes in accounting to be simple and leads to increased and focused use of computed information in the field. Therefore, about efficiency in accounting, information technology has played a major role in achieving this. Nonetheless, with the advancements in information technology, it is expected that the field of accounting will as well adopt the new techniques in information technology, and therefore, increase its efficiency.

Information technology has also led to the transformation of the field of accounting into a paperless phenomenon. Today, there is no more use for paper and pencils. Information technology highly adopts different equipment, which has also been adopted in accounting. For instance, there is the use of computers, faxes, and scanners, among other IT equipment in information technology. Most of this IT equipment is as affordable, thus available in the accounting section of most companies. Nonetheless, these have resulted in increased efficiency in accounting procedures. 

As observed, information technology utilizes various software. This software can also be adopted in most accounting processes. For instance, accountants use the program referred to as “spreadsheet” today to help in reporting and calculations in the field. Apart from the spreadsheet program, there is much more software, which is accustomed to accounting, and help in accounting procedures. Nonetheless, these are affordable and easy to use. This different software makes the work of accountants easier. Therefore, accountants use these to pay different types of bills in the company, recording all the transactions they have made, and use them in financial reporting, as well. Nonetheless, the use of these IT programs ensures that all accounting data is well organized and stored in a central area for easy access.

Security of data is paramount in accounting. Accounting deals with highly sensitive company data and information, which must be well kept and protected from unauthorized access. In the past era, when technology had not evolved as it is today, accountants used papers to record information, which was then stored in large files. This way, the security of the data could be easily compromised, since it is easier for a person to access files and folders and read the data therein. However, the adoption of information technology has changed all this. Today, with the adoption of IT in accounting, the security of company accounting information is guaranteed.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Discuss the value of Information Technology and Management Information Research Paper - 1”, n.d.)
Discuss the value of Information Technology and Management Information Research Paper - 1. Retrieved from https://studentshare.org/information-technology/1621492-discuss-the-value-of-information-technology-and-management-information-technology-to-you-and-your-chosen-profession-mine-is-accounting
(Discuss the Value of Information Technology and Management Information Research Paper - 1)
Discuss the Value of Information Technology and Management Information Research Paper - 1. https://studentshare.org/information-technology/1621492-discuss-the-value-of-information-technology-and-management-information-technology-to-you-and-your-chosen-profession-mine-is-accounting.
“Discuss the Value of Information Technology and Management Information Research Paper - 1”, n.d. https://studentshare.org/information-technology/1621492-discuss-the-value-of-information-technology-and-management-information-technology-to-you-and-your-chosen-profession-mine-is-accounting.
  • Cited: 0 times

CHECK THESE SAMPLES OF Value of Information Technology and Management Information System

Strategic Management of Information System

This paper gives detailed information about contemporary information system management instruments and patterns of its use.... The author of this essay aims to analyse risks and benefits of modern information system management strategies and people who implement them.... “IT service management is the implementation and management of quality IT service that meets the needs of the business”.... IT service management or ITSM theory is the framework for managing information technology systems....
4 Pages (1000 words) Essay

Value of Information Technology and Management Information System to Accounting

This paper ''Value of Information Technology and Management Information System to Accounting'' tells us that IT refers to the utilization of computers and networking in the process of data storage, protection, and overall management.... This paper, therefore, will focus on the value of information technology and management information systems in the field of accounting.... he field of accounting today has become dependent on information technology and management information systems, as it adopts various elements in these, to enhance the efficiency of its processes....
5 Pages (1250 words) Research Paper

The Management of Tesco by Incorporating Information and Information Systems

This case study "The Management of Tesco by Incorporating information and information Systems" is about through Tesco information and information systems, suppliers are interconnected through electronic data interphase to develop strategic, administrative, and operational planning.... In the present state of events, information and information systems are increasingly being used by many corporations as a competitive and strategic weapon....
10 Pages (2500 words) Case Study

Information System of Fine Food Company

This new technology based structure will standardise the overall business operations and management handling.... This research is about the detailed analysis of the new information technology based structures implementation at the business of the Fine Food Company (FFC).... Here I will present the detailed analytical and technological analysis of the new business and information technology based systems implementation at Fine Food Company.... This report will be composed of the different analysis regarding assessment of the feasibility of the new information technology implementation....
9 Pages (2250 words) Essay

The Value and Impact of Information Technology Investments

There are several reasons which are present in the thesis for which organization wants to improve the overall operations or few departments with the help of information technology investment.... Every organization whether big or small needs to be updated and want to invest more in the field of information technology.... The third part of this research discusses about managing investment in information technology.... It has been concluded after performing this research that the technological resources are allocated by investing in the field of the information technology....
19 Pages (4750 words) Thesis

Strategic Information Systems

Through adoption and formulation of ERP programs, a company will be able to produce more and management its work force more effectively.... Managing the organization in terms of the internal and external aspects becomes easier with an ideal ERP system.... is a company that employed the ERP system to eliminate the unnecessary formalities that came in the way of ideal production and delivery.... In the paper 'Strategic information Systems' the author analyzes the enterprise resource planning as a part of the information Systems born out of modern technology to enable companies to conduct its activities in an organized and a more effective manner....
15 Pages (3750 words) Essay

Introduction to Information System

This report "Introduction to information system" presents enterprise resource planning systems that involve business management software that permits some organizations to utilize a system of integrated applications to administer the business.... The detail of information that is made available through the system of ERP helps in the provision of visibility for the crucial performance indicators that the organizations require for meeting their objectives.... he other value of ERP unto Solaricot manufacturing firm is the fact that it will provide some foundation to investigate the alignment of whether and how the system will iron out the problems....
8 Pages (2000 words) Report

Information Technology and Information System Security

This coursework "information technology and Information System Security" presents Information Technology that is changing at a high pace.... It is a methodology implemented on the basis of different types of threats, vulnerabilities, and methods of system attack in relation to security threats.... This clearly indicates that modifications such as developing a more generic methodology should be considered to minimize the exposure of my computing system and data to huge threats and vulnerabilities....
8 Pages (2000 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us