The evolution of accounting and technology is the ongoing process of incorporating technological advancements into the accounting profession. From manual record-keeping to modern accounting software and artificial intelligence, technology has revolutionized the way accountants collect, process, and analyze financial data. This has increased efficiency, accuracy, and speed, allowing for more informed decision-making and improved financial management. To know more about the scope for CPAs, visit: https://rb.gy/0irwg

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The Evolution
of Accounting
& Technology

2. Traditional Accounting
● Manual record-keeping
● Manual calculations
● Typewriters for financial statements
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3. Introduction of Computers
● Electronic record-keeping
● Automation of routine tasks
● Spreadsheets for calculations
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4. Accounting Software
● Specialized software for automation
● Real-time financial reporting
● Integration with other applications
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5. Advanced Technology
● AI, machine learning, data analytics
● Automated tasks, fraud detection
● Machine learning for data analysis
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6. Future Trends
● Blockchain for financial reporting,
auditing
● Robotic Process Automation (RPA)
● Big data and analytics for insights
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