The Effects of Technology on the Accounting Profession In today's business society, accounting technology, whether software or hardware, is a vital part of nearly every major business. Many people overlook the important role of accounting technology in business and the accounting profession. The fact is that technology like accounting information systems can make or break a business. Using Information Technology in Retail Businesses (Wal-Mart) To succeed in the rapidly changing business environment we face today, companies rely heavily on accounting technology to track information about their customers and inventory (Lazerus , 2010). Wal-Mart and other companies around the world have also begun to rely on accounting technology to improve their operations and compete in challenging markets. Software technologies like Microsoft Access Databases allow Wal-Mart and other companies to search, retrieve and order additional inventory more quickly and efficiently both internally and externally. For example, Wal-Mart can communicate changes and updates with a single database entry and is immediately available to employees and managers with access to a computer. Accounting systems also help employees become more efficient without the hassle of checking and recounting inventory. Accounting systems are also used in Wal-Mart's human resources department and other companies to assist in tracking and paying employees. The systems automatically perform calculations such as the sum of an employee's available overtime and vacation time. This reduces the amount of time spent on compensation matters, thus increasing the time a company can dedicate to other important matters such as recruitment and retention. Acco...... middle of paper ...... counting tasks are still expected only of accounting professionals, the role of accounting professions has decreased due to the emergence of accounting technology. The integration of accounting technology into vital parts of businesses has produced positive impacts that would otherwise be impossible to achieve. Companies that do not take advantage of today's accounting information systems put themselves at a great disadvantage compared to their competitors. The point is that most businesses would be crippled and perhaps even forced to close their doors without today's accounting systems. References Lazerus, J. (2010). See retail. Retrieved from http://www.visioncritical.com/what-we-do/practices/retail/Rampur, S. (2011). Basic elements of computer science. Retrieved from http://www.buzzle.com/articles/impact-of-information-technology-on-business.html