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Discuss the nature of the changes that IT has brought about during the last five years within the accounting environment and identify the necessary skills (not exclusively IT related) required by graduates.

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Introduction

'Information Technology has had considerable impact upon the working environment of accountants'. Discuss the nature of the changes that IT has brought about during the last five years within the accounting environment and identify the necessary skills (not exclusively IT related) required by graduates to prepare them to become members of the profession. During the last five years, Information Technology has brought many negative and positive changes within the accounting environment. I points I will discuss is the sharing of information and intelligence, Accounting Information Systems (AIS), the size of the accounting firm and resources, which show both negative and positive points to Information Technology changing the accounting environment. Graduates need skills to prepare for the outside world to become members of the profession. The skills required for this are good communication skills, good A level and degree results, to be a team player, interest in financial and business affairs and numerate. ...read more.

Middle

A large firm has more complex information flows than a small firm. Therefore, if it is to compete successfully, it must have a more complex information system. Therefore, for small firms this will all up to huge costs for computer equipment and software. Large firms on the other hand can afford to put forward huge costs and supply financial information through the computer system. Resources can be shared in different departments of the accounts firm, which makes work more efficient and time saving. One of the main skills required by graduates would be to educational skills. A good academic track record would allow employers to see a clear correlation between past academic achievement and success in the professional examinations. Graduates are expected to complete a three-year training contract, whereas a non-graduate is expected to complete a four-year training contract. ...read more.

Conclusion

Due to the financial and career pressure of passing examinations, it is difficult for the graduate to receive his or her full potential. The graduate needs to have interest in financial and business affairs. They need to know what is going on in the world with financial matters, like the world trade centre incident, which brought down market share prices. The overall objective of computers is to improve the standards of the accounting environment. The introduction of computing into the accounting syllabus has created many problems for lecturers. Lecturers are to emphasise on the introduction to computers in terms of computer science including programming. The computer has not caused any changes to accounting concepts but it has changed the environment of accounting in practice that there must be a fundamental change in the way accounting is taught. As the professional environment of chartered accountancy is constantly updating their knowledge and skills in order to maintain their professional competence. 1 Nilpa Shah Group C ...read more.

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