Discuss the value of Information Technology and Management Information Research Paper

Discuss the value of Information Technology and Management Information Technology to you and your chosen profession (mine is Acc - Research Paper Example Nonetheless, management information systems are tools, which a manager uses to collect information about different aspects of the company, including sales and personnel, among others, and analyze it (Moghaddam, et al 2012). On the other hand, Accounting is an important aspect in all companies. Unlike IT and MIS, Accounting has been in existence for the longest time. This mainly addresses the financial state of a company. It involves bookkeeping, which involves bank statements, company ledgers, and the overall tracking of finances in the company, including money in, money out, and business assets. Today, there is a high level of interaction between different disciplines. Similarly, the fields of accounting, IT, and MIS show a high level of interaction, as the field of accounting adopts the skills and knowledge of IT and MIS in its processes. Nonetheless, the nature of IT and MIS make them to be applicable in diverse disciplines (Moghaddam, et al 2012). This paper therefore, will focus on the value of information technology and management information systems in the field of accounting. The field of accounting today has become dependent on information technology and management information systems, as it adopts various elements in these, to enhance the efficiency of its processes. In information technology, there are a myriad of new integration approaches, as well as effective methods of managing data. Therefore, use of information technology translates into increased efficiency in data retrieval and storage, and overall management of data in accounting. Therefore, this aspect of information technology is valuable in accounting, since it makes the different procedures and processes in accounting to be simple, and leads to an increased and focused use of computed information in the field. Therefore, with regard to efficiency in accounting, information technology has played the major role in achieving this. Nonetheless, with the advancements in information technology , it is expected that the field of accounting will as well adopt the new techniques in information technology, and therefore, increase its efficiency (Moghaddam et al 2012). Information technology has also led to the transformation of the field of accounting into a paperless phenomenon. Today, there is no more use of papers and pencil. Information technology highly adopts different equipment, which have also been adopted in accounting. For instance, there is the use of computers, faxes, and scanners, among other IT equipment in information technology. Most of these IT equipment are affordable, thus available in the accounting section of most companies. Nonetheless, these have resulted in increased efficiency in accounting procedures (Bahador, Haider & Saman, 2012). As observed, information technology utilizes various software. These software can also be adopted in most accounting processes. For instance, accountants use the program referred to as â€Å"spreadsheet† today to h elp in reporting and calculations in the field. Apart from the spreadsheet program, there are many more software, which are accustomed to accounting, and help in accounting procedures. Nonetheless, these are affordable and easy to use. These different software makes the work of accountants easier. Therefore, accountants use these to pay different types of bills in the company, recording all the transactions they have made, and use them in financial reporting, as well. Additionally, the use of these IT programs ensures