Q. Career in information systems?
Have you yet heard the sayings knowledge is power or else information is money? When people talk about accounting what they are really talking about is information. The information utilized by businesses and the technology that supports that information represents some of the most valuable assets for organizations around the world. Very habitually the success of a business depends on effective management, creation and use of information.
As companies become yet more reliant on technology the require for well-educated Management Information Systems (MIS) auditors and control professionals' increases. Improved technology has the prospective to dramatically improve business organizations and practices reduce costs and exploit new business and investment opportunities. Simultaneously companies face constant challenges in selecting and implementing these new technologies. For the reason that of their high value and the development, support, inherent complexity and auditing of information systems has become one of the fastest growing specialties in accounting.
Graduates with special skills and interests in computing and technology have expansive opportunities. In addition to traditional auditing and accounting functions MIS professionals perform evaluations of technologies and communications protocols involving client servers, electronic data interchange, local and wide area networks, telecommunications, data communications and integrated voice/data/video systems. In public accounting technology has bowed the auditing profession by extending the knowledge required to draw conclusions and the skills required to audit advanced accounting and information systems.
Amid management consulting practices growing and information systems becoming a larger percentage of public accounting revenue MIS professionals are in high demand. If you are regarding as a degree in computer or information systems you should consider the advantages that an accounting major or minor can give you in working closely with businesses and consulting firms. A dual major in MIS and accounting is one of the most desirable undergraduate degree combinations in the workforce.
This section explains two new steps in the accounting cycle the preparation of the work sheet and closing entries. Additionally we briefly discuss the evolution of accounting systems and present a classified balance sheet. This balance sheet format additional closely resembles actual company balance sheets. After completing this section you will understand how accounting begins with source documents that are evidence of a business entity's transactions and ends with financial statements that show the solvency and profitability of the entity.