--%>

Reaping the benefits of IT

What do you mean by the term reaping the benefits of IT? Explain n brief?

E

Expert

Verified

The impact of information technology or IT on the development of management accounting is difficult to overstate. The capability of computers to process big amounts of information signifies that routine reports can be generated rapidly and accurately.

In reality, certain reports might be generated on a daily or even real-time basis. This can be imperative to businesses operating in a highly competitive atmosphere that risk the loss of competitive benefit from making decisions mainly based on imprecise or out-of-date reports. IT has as well enabled information to be more broadly spread all through the business. Rousingly, via their personal computers, staff at all levels is capable to gain access to relevant reports and information to guide their actions and decisions.

   Related Questions in Managerial Accounting

  • Q : Define Responsibility Center

    Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa

  • Q : Fundamentals of Accounting Assignment

    Assignment 1: A adjusted Trial balance table given below: Southwest Business School

    Q : Conditions in which fixed capital of

    Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:

  • Q : When does a partnership exist A) A

    A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a

  • Q : Duties of Partner The duties of each

    The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.

  • Q : Features of partnership Write some main

    Write some main features of partnership? Answer: Essential elements or major features of Partnership are as follows: A) Two or m

  • Q : Why you want to be an accountant Why

    Why you want to be an accountant? Normal 0 false

  • Q : Effect of illegal obligations on cost

    Normal 0 false false

  • Q : Define Traceability Traceability : The

    Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.

  • Q : Define Opportunity Cost Opportunity

    Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.