Choose a job role (or career path) with which you are familiar. In what ways has this role 1) already changed in the digital economy, and 2) be likely to change further in the future?
Max 400 words
Accounting plays a significant role in the enterprise’s operation. Lucas Pachauri believed that it was not enough to only record financial transactions for commercial purposes. It was necessary to collect, classify and summarize recorded transactions, which was done through accounting. After the confirmation of financial items, through the basic accounting treatment, it will be correctly recorded in the system books. (Chatfield & Vangermeersch, 2014) I think it is a way to communicate the financial health of a business or an organization to any and all interested parties. It is a way of assessing the assets, liabilities and cash flow, or the future of an entity for all current and future investors. (EduPristine, 2018)
In recent years, with the continuous development of the digital economy, it may be surprising to discover that the traditional role of accountants gradually disappeared in our vision, replaced by the use of accounting computerization and the era of big data management accounting. However, it does not mean the businesses no longer need accountants, but the significance and role of accountants as a profession has changed under the digital economy.
Before the development of the digital economy, the responsibility of traditional accountant is mainly to rely on manual accounting by using paper, ink and brush, abacus and other calculation tools for manual sorting, calculation, classification, registration, verification, indicators, and other administrative accounting work.
Nowadays, the responsibility of accountants is to input accounting data into the computer, into the computer, through the accounting computerization for accounting, and then get the accounting report. It helps to reduce the cost of accounting work and simplifies the workflow of accountants.
Traditionally, the accounting work needs a large number of accountants from the basic classification calculation to the final preparation and audit. The application of computerized, to a certain extent, reduced the workload of accounting staff. It can cope with more complex financial and accounting computerization processing flow effectively and it seems more convenient for the accounting staff to handle processes. It used to be necessary to carry out manual audit and error correction for the project, but now it can be easily handled by the computer which can not only improve the work efficiency, but also reduces the cost of human resources accounting work.
In the future, with the large-scale computerization of accounting and the development of intelligent systems and the wide application of big data, accounting work and accounting profession will also develop towards the direction of accounting system integration, analysis and management.(Radu & Marius, 2012)
Reference:
Chatfield, M., & Vangermeersch, R. (2014). The history of accounting (RLE accounting): an international encylopedia. Routledge.
Radu, D., & Marius, D. (2012). Changes caused by computerization in accounting management. Annals of the University of Oradea, Economic Science Series, 21, 655-661.h
EduPristine(2018), Importance of Business Accounting for enterprises, https://www.edupristine.com/blog/importance-of-accounting-for-businesses
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