Information technology(IT) is “anything that renders data, information or perceived knowledge in any visual format via any multimedia distribution mechanism.” IT has now substituted for labor and changed the structure of audit teams. No doubt, it is a huge impact on accounting industry (Ghasemi et. al, 2011) Now, accounting software automates the traditional paper ledgers and accounting book, it increases the accuracy of the information and improved the efficiency to prepare financial information. In addition, the efficiency of processing a large amount of financial information using IT, especially in light of keeping up with changing tax laws, helps avoid high labor expenses. In my view, it is a win-win situation where companies are able to control expenses and it increases overall company efficiency. Ghasemi further addresses that computerized accounting systems can have a better external reporting that clearly shows the worth of investing to potential investors. It creates better growth opportunities to be a high-value company. Overall, Ghasemi et.al are clearly supportive of using information technology on accounting systems. On the other side, I am concerned that using IT exclusively will increase unemployment rate since software can replace a high amount of human labor. For workers’ sake, I believe that it is a contradiction of whether IT is a useful tool for high-quality work outcome or it is a forewarning of unemployment. However, I would like to update more blogs with reading more articles that include disadvantages of IT in the accounting industry and see this issues from multiple points of view to have a more unbiased judgment.

Ghasemi, Shafeiepour, Aslani, & Barvayeh. (2011). The impact of Information Technology (IT) on modern accounting systems. Procedia – Social and Behavioral Sciences, 28, 112-116