Submit Infographics

Home  »  Employment Graphs • Graphs • Static • Technology Graphs   »   Transformation of Accounting in Recent Years

Transformation of Accounting in Recent Years

Transformation of Accounting in Recent Years

In 1494, Luca Pacioli was the first person to describe the system of debits, credits, journals and ledgers. Since then, accounting has gone through major changes and with advent of technology, accounting has reached new heights. Before computer era, entries were done manually and mistakes could mean hours of recalculation and missing of money.

In that era, finding errors was a tedious job. Later, when accounting computer programs were introduced, they reduced the margin for error, got the job done quicker, eliminated calculators, papers etc. computers have changed the nature of accounting and is now considered as a dynamic profession.

Technology available has made accounting fast-paced and there are about 12,16,900 employed accountants working currently. This number is expected to grow by 16% with $61,1690 annual wage in the coming years. Every 1 out of 5 work more than 40 hours a week which goes to show that this profession is always in demand.

People skills have become just as important to keep the numbers in check. Because of the automated programs, accountants have more time to interpret the data, suggest smart financial decisions and give good financial advice. Today’s accountant is more of a business consultant rather than a mathematical tool.

Categories : Employment Graphs, Graphs, Technology Graphs | Published by : dailygraphs | Date : Aug 17, 2013
Tags: accounting, accounting in computer era, accounting skills, statistics on accounting, usage of technology in accounting

Credits

Source : http://www.accounting-degree.org/technology/
Add missing credits


Related Posts

Current State of Rental Market
All Aboard the Broadband Wagon Infographic




Copyright 2020 Graphs.net
i i i
  • Contact
  • Terms of Use
  • Privacy Policy
Scroll Up