Embracing the Digital Age: Accounting in the 21st Century - PowerPoint PPT Presentation
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Embracing the Digital Age: Accounting in the 21st Century
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"Embracing the Digital Age: Accounting in the 21st Century" is a discussion about the impact of technology on modern accounting. It explores how the use of technology has revolutionized accounting practices, and how accounting professionals can adapt to this new digital landscape to improve efficiency, accuracy, and decision-making. To know more about the scope for CPAs, visit: – PowerPoint PPT presentation
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Title: Embracing the Digital Age: Accounting in the 21st Century
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Embracing the Digital Age Accounting in the 21st
Century
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Traditional Accounting
- Manual record-keeping
- Manual calculations
- Typewriters for financial statements
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Introduction of Computers
- Electronic record-keeping
- Automation of routine tasks
- Spreadsheets for calculations
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Accounting Software
- Specialized software for automation
- Real-time financial reporting
- Integration with other applications
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Advanced Technology
- AI, machine learning, data analytics
- Automated tasks, fraud detection
- Machine learning for data analysis
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Future Trends
- Blockchain for financial reporting, auditing
- Robotic Process Automation (RPA)
- Big data and analytics for insights
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