Impact of Information Technology and Information Systems on the Development of the Accountancy Profession - A Case Study

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Acknowledgement

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Abstract

In this research we try to explore the notion of information technology in a holistic context. The main focus of the research is on the profession of accounting and its linkage to technology in the contemporary world. This research also analyzes many aspects of the information technology & tries to gauge its effect on the profession of accounting and information systems.

Chapter 2: Literature Review

Management Accounting

These days, the world of business is altering faster than ever before and every now and then, new innovations are popping up. The rationalities for this is globalization, high levels of investments in IT and the fast-paced technological change in amalgamation with intensifying monetary value of exploration and development is primarily because of the role of information technology (IT) (Ashbaugh & Mayhew 2008, 11-39) which has changed over the last decades to turn into a significant component of the manner in which companies deal with and ascertain their resources. Establishments are reacting in special ways and at varying rates to the wide scope of IT-based chances and pressures. (Frankel 2008, 71-105)

The process of decision making in terms of the construction of technical IT architecture ought to be closely related to the design of the organization itself. Consequently, IT brings a decisive role in modernistic business, particularly considering the function of accounting. IT has fundamentally transubstantiated the nature of business as well as the practice of accounting. (Banker 2006, 209-222)

The initial concern in the relationships among information and technology accounting was step by step presumed; accounting was merely not possible to execute effectively without the incorporation of information technology, and the supposition comes out to be that IT is the design for information and it appropriates advanced inquiries to be executed. (Bedard 2007, 131-160).

Bank Staff Attitude and Technology Adoption

Bank staff perceptions and expectations of banking technologies are an important element in developing successful projects for electronic banking transactions. If the bank's employees are considered primarily as a self-service banking channel that costs should be reduced and, if the adoption does not affect their position, they will take. (Abbott, Parker & Rama 2009, 1-21)

However, if they perceive electronic banking as a threat to their job prospects and a way to lose customers, then it is likely to resist its adoption for customers in branches and jobs. Resistance Bank staff to take the ...