The Advancement of Technology | Its Impact on Accounting

From clay tablets to manual ledgers, from punch cards to sophisticated software, accounting tools and processes have always been in constant evolution in order to maintain proper records and efficiently care for a variety of businesses. It is commonly repeated that accounting is the language of business, and this language has benefited from the advancement of technology that has allowed accountants to systemize many procedures, including the ability to analyze statistical values. Now the professional can interpret the language of business with an ease that benefits organizations in multiple ways.

With the advancement of technology also comes real threats that can impact a variety of organizations. The Healthcare industry is a major target for would be information thieves and their diverse attack mechanisms. But these are not the only fields at risk. In addition to being well informed of advantageous tools for the accounting processes, the financial professional should have a robust knowledge of protective elements for their benefit and that of their clients.

The Sarbanes-Oxley Act of 2002 added an additional demand on both organizations and accounting executives to completely alter the culture of many computing systems and the financial recording industry moving forward. The importance of reliable internal controls and preparing statements and audit reports that conform to accounting principles have contributed to restoring more ethical business practices, helping larger companies reestablish their public image.

As accounting professionals, we are continuing to improve our business linguistics for the benefit of future accounting professionals. These advancements have provided new levels of opportunities for everyone involved, professionals and organizations alike. When an enterprise takes hold of technology, the diverse options that open up for continued growth are endless. FPV & Galíndez is more than just an accounting firm; we are an essential business partner that goes beyond the basics. We understand numbers, information technology and the regulations that will not only keep your business protected and compliant, but will also contribute to continued productivity and growth. Learn more about our experts and what they can do for your organization.