Question

Today many traditional bookkeeping functions are fully automated, The POS system downloads operational transactions directly into the accounting information system (AIS). Bank data and credit card data are also handled in an automated fashion. This reduces the need for much of the work entry level bookkeepers completed in the past. As a future accountant what steps will you take to insure the viability of your career as automation enhances reporting functions and reduces labor? Be specific and insightful in your answers.

Answer 1

Book keeping is an art of recording of business transactions in a set of books and it is basically a record keeping function. Not all transactions are recorded and transactions expressed in terms of money are recorded. Book keeping is a continous activity and it is being a routine and repetitive work.

It is also referred as set of primary books. These records form the basis for accounting. The record is to be kept in a manner that it will feclitate further processing and reporting of financial information which will,be useful to all stakeholders of the business.

It is taken over by the computer systems. Many accounting packages are available to suit different business organisations. There are various software tools like Tally, SAP, Oracle. So the best way to survive is to be updated with all the accounting tools and being a pro helps us to sustain.