Technology and CPAs: The increasingly digital accounting landscape

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Mobile devices and cloud computing dominate the discussion of the most important technologies for CPAs. The cloud and mobile devices (phones, tablets, ultrabooks, etc.) will continue to help further integrate technology into all aspects of a CPA’s daily duties.
With pervasive computing, CPAs increasingly will use mobile devices to access cloud-based applications, communications, and data. This connectivity will help CPAs work more efficiently and exchange information with clients more effectively. .

Devices and equipment
Computers have become the accountant’s best friend. Information technology (IT) has completely changed the accounting world—no more green paper sheets and pencils. And it gets even better; these machines are relatively affordable, which means that even small businesses can readily afford to purchase them.

Programs and software
Spreadsheet programs, developed by some of the world’s most sophisticated software companies, are highly efficient at helping accountants with calculations and reporting. Other types of software can also help these professionals in their daily tasks, such as paying bills, recording transactions, and organizing data in a centralized location.

The power of the Web
Internet’s role in accounting is massive—from document sharing and filling out forms to archiving important data and preparing taxes. A cost-effective way to process multi-digit figures, transacting over the Internet is generally convenient, fast, and efficient.

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Information technology is used extensively in accounting security. Identifications and passwords regulate access to confidential information. Instead of binders and papers lying around and being vulnerable to theft, certain computer programs enhance the security of information.

Lewis Daidone  is a Certified Public Accountant that has has effectively worked with Boards of Directors, venture capitalists, senior executives and partners to successfully enhance infrastructures, accelerate growth and improve fiscal results of financial services and technology companies. Learn more about his career on LinkedIn.