Evaluation of Will the Web Kill Colleges Essay

Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.

Eamonn, R. 2012. The evolution of accounting software: past, present and future. [Online] Available from: http://www.gaaaccounting.com/author/gaablog/ [Accessed: 2015-04-19].

In addition to accountants providing many useful numbers that signal a company’s performance, they also prepare many useful documents and a code of ethics to make sure that all stakeholders have a clear picture on the business’s financial position. For instance, journaling is what accountants do after every transaction. These entries of what is exchanged in a business provide evidence that money deserves to be in a certain account. Especially since every journal entry needs a corresponding document that proves the record did happen, journals can be used by executives to see what really occurred in case a number in an account looks wrong (Schneider). It is also used when a government official suspects that the company is unfairly representing itself to either indict the business or prove its innocence. Journaling illustrates the importance of accounting since everything is documented and has proof for existence in the case of errors. One thing that journals go hand-in-hand with is the general ledger. This is the document that actually lists each individual account and the amount in it. It organizes the overall picture of every entity a business comes in contact with so that every important number can be put neatly into a financial statement.

In the modern business today, there is no more manual accounting. Instead a lot of companies and businesses all over the world are trying to use and adapt by having an accounting system that is computerised, less hassle and fast processing.

With the advancement of new technology, more students enroll in online courses (Spring), but this action alarms some who do not agree with online education. College Sophomore Alexander Spring’s editorial, “Online Learning: The Ruin Of Education,” argues “Online education turns a center into a diploma factory.” However, he experienced online education for only a brief period of time. Instead of providing statistics to support his proposition, he based his entire article on his own negative personal experience. Furthermore, Spring merely presents the harmful aspects of online learning, without acknowledging the benefits online education possesses. In his argument, he said this about his experience, “I had the horrific opportunity to experience online learning for a few weeks.” Contrary to Spring’s beliefs, online learning possesses many positive advantages.

Marshall, D.H., McManus, W.W. & Viele, D.F. (2004). Accounting: What the Numbers Mean (6th ed.). New York: McGraw-Hill.

Writer Bill Maxwell, in his essay “No Short Cuts in Long-distance Learning,” explains the pros and cons of online learning. Maxwell stands heavily on traditional classroom settings rather than the new technological way of earning a degree. As the demand for education in the work field, America has been pushing online classes, even though the dropout rate is extremely higher. In this article, Maxwell uses quite a few statistics in order to inform the reader why he is not a big fan of online classes. One of his argumentative statements was that research shows that many students taking online classes do not graduate, or further their education to a university as often as community college students. This essay was an easy read, but if he had used

Financial statements are generated easily from transferring information from the journal and ledger records to the trial balance, and then transferring these records into the financial statements. Given the purpose and importance of General Journal, General Ledger, Trial Balance, and Financial Statements, it very clear that these flows or work together in a successful accounting sector. The first step is recording the day-to-day or chronological transactions of a business (general journal) which is subsequently transferred to the general ledger that summarize all transactions occurring within a business to ensure that the total of all debit balances match the total of all credit balances. After the general ledger is being generated, the trial balance is prepared after all the transactions for the period have been journalized and posted to the General Ledger usually for a given period or month that list and total of all the debit and credit accounts for that period and usually a check and balance for the

This shows that the perception of online degrees has changed dramatically from what it was only six or seven years ago. In 2009, in the US, a Cleveland State University study found that HR managers, executives, and other

With unemployment rates at an all time high combined with the increasing costs associated with traditional brick and mortar schools, online education is by far one of the fastest growing and thriving industries. As younger students are attempting to pursue traditional higher education, they are realizing that the costs are not only increasing daily, but the programs are longer in duration and often not a better education than the online line programs. Those who have lost their jobs and need an edge over other unemployed candidates are finding that a B.A

While online college may be the future, it drops the ball in many important areas. When talking about online college, students will say things like “I always wanted to school from home.”, or “I can get the degree on my own time.”. Promises that “bait” gullible students into taking online classes. These classes are practically designed to make students fail, or drop out, and schools won’t change the system or close registration for online classes. Ultimately, students are losing money, time, and effort to a flawed program.

The addition of computer technology in accounting systems has not only changed the way information is accessed, stored, and controlled, but encouraged auditors to become familiar with accounting technology and software. Entities using technology for information management provided a different perspective to the role IT played in accounting. At an accelerated pace, auditors need to become educated on capturing and analyzing information technology. While training and professional performance of an auditor are addressed in the standards, the AICPA has not updated this standard since 1975 (Krahel and Titera, 2015). Auditing Standard 1010: Training and Proficiency of the Independent Auditor requires an audit "to be performed by a person or persons having adequate technical training and proficiency as an auditor" became a guideline for auditor knowledge and professional development (Public Company Accounting Oversight

In business, transactions that take place have to be very carefully recorded so that there is less ambiguity and the recorded transactions later on are utilized for various purposes - tax purposes,

Information systems changed forever the way accounting tasks are processed. The days of green paper pads are gone, and instead businesses have a centralized place where all accounting transactions are entered and saved. No more looking for paper

Therefore, accounting software enhance the capabilities of small businesses to function efficiently, increase productivity and competitiveness despite the size of the business. Various accounting software such as QuickBooks, Freshbooks, Xero, and Zoho Books are great for small businesses and include payment processing, payroll capabilities, general ledger management, and invoicing. QuickBooks application are great for small businesses freelancers, and consultants and as a user-friendly interface. QuickBooks user’s basically complete forms and the software preform the