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How has the process of maintaining financial records been effected by the technology?
Hmmm. Excellent Question. It Seams like technology should be improving the way that we maintain any record. truth be told now financial institutions have to maintain the "digital" copy and a hard copy. while you think your information is secure, anyone with a d- in computer science can Google how to "hack" a network and recover any information that they deem necessary ...or helpful to them. at least with only paper copy's you know that you could truly safeguard, or at the very least destroy (for sure) any evidence. If you delete anything stored via technology on PCs it can easily be re-accessed in a matter of seconds. The end result of technology is people think they are much more secure and can access their information faster and easier... news flash, If you can get to it easier so can a thief. This leads people to believe that they are safe and thus they become much more careless than before. Plus with the insecurity of technology and the still much needed maintenance of the hard copies it is costing the tech costs plus the cost of the old ways. technology ... good for quick easy access... to ALL, even the ones you don't want to have it.
darklove_420@charter.net Rick
What else can I help you with?
What is the purpose of the closing process?
The purpose of the closing process is to finalize the financial records of a business at the end of an accounting period. This involves transferring temporary account balances, such as revenues and expenses, to permanent accounts like retained earnings. This process ensures that the financial statements reflect the company's performance accurately and prepares the accounts for the next period. Ultimately, it aids in maintaining clear and organized financial records for reporting and analysis.
What does tax efficient mean?
A financial process is said to be tax efficient if it is taxed at a lower rate than an alternative financial process that achieves the same end.
What role and impact of technology have on the accounting process?
well technology ave impacted the accounting process in a tremendous way by making the lives of relevant persons easier
What is the name of the process of recording business financial data?
accounting
What to disclose in a financial sales process?
Type your answer here... insurance
What is the definition of information technology?
Information technology involves developing, maintaining, and using computer systems. The development and use of software and networking are also encompassed in information technology. Information technology is often used to process and distribute data.
What are the advantages of using information technology in a small business?
With the information technology a small company can process more information (financial for example) by the less amount of people
What are the four major of accounts?
The basic function of Accounting includes the creation, maintaining, managing financial records ranging from business transactions and maintaining the process of creating wealth. Accounting facilitates in order to assess the financial position of a certain business at any particular time.
What is the purpose of the closing process?
The purpose of the closing process is to finalize the financial records of a business at the end of an accounting period. This involves transferring temporary account balances, such as revenues and expenses, to permanent accounts like retained earnings. This process ensures that the financial statements reflect the company's performance accurately and prepares the accounts for the next period. Ultimately, it aids in maintaining clear and organized financial records for reporting and analysis.
Is the brain effected by alchol?
Yes, Alcohol can slow your thought process.
What is the first step in the financial planning process?
The first step in the financial planning process is to determine your current financial situation.
What is the process when the nervous system makes you feel hungry or thirsty?
Maintaining homeostasis.
What is information technology spillover?
The process by which other sectors receive benefits from the increase in technology. Because of the increase use of the internet, studies have shown that ther have been higher growth rates in the areas of retail and financial institutions. This can be determined using growth accounting.
What is convention of constistency?
The convention of consistency refers to the principle that similar transactions should be accounted for in the same way throughout the financial reporting process. This ensures comparability across financial statements over time, allowing stakeholders to make informed decisions based on reliable data. Consistency aids in maintaining transparency and trust in financial reporting, as it reduces the potential for manipulation or misinterpretation of financial results.
How do you establish credit score with Dun and Bradstreet?
D&B scores can be established through the DUNSRight process, by adding trade experiences, purchasing a product, submitting your financial statements and updating and maintaining your business information.
Why is goal setting such an important part of the financial planning process?
The goal setting is an important part of the financial planning process because it will minimize the wastage and misuse of financial resources.
What We do to help our customers in Financial era?
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