Computer Based Method For Tracking Accounting Information...

In a global world where society is driven by technology it is almost impossible for any form of business or organization to succeed without the proper technological advances. Businesses have heavy reliance on their information systems for accuracy which helps management with making decisions. According to author Ulric J. Gelinas in his book â€Å"Accounting Information Systems 10th edition â€Å"Accounting Information Systems can be defined as â€Å"the collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.† (Accounting Information Systems, 2014) There†¦show more content†¦Accounting Professionals are more depended on to take the lead in regards of making sure that enterprise risk are identified and litigated as well as enhancing organizational governance. Professionals must have a strong understanding of very key informational technologies that drive information systems, key information qualities, and the important business processes which helps with ensuring that the organization is running efficiently. When dealing or working in a business in corporate America it is very easy for employees or management to allow greed and envy lead themselves down the road of self-destruction. Financial fraud is a huge problem worldwide and although there has been many different types of improvements that have been made in the last decade such as the Sarbanes Oxley Act there is still a great amount of work that needs to be down to continue to limit these types of horrible acts from occurring. Well-known cases that are known to help with a push of change in the crackdown of financial fraud consists of the Enron, Worldcom, and Bernard Madoff’s Ponzi scheme. (CNBC, 2014) Bernard Madoff is known to be one of the biggest individual masterminds in financial fraud. By himself Madoff was able to defraud over 50 billion dollars in investor funds. The Madoff outrage changed the SEC. Not just arrived monstrous faculty changes, the whole office was rebuilt in a way it had not been in its initial