Abstract:

With today’s changing technology, many accountants Ware finding themselves faced with deciding whether or not to implement a new accounting system. Many will find a change necessary due to continuing problems, such as software and hardware failures. Others will become weary of slow systems or complicated processes due to out-of-date systems. No matter what the reason, this decision should not be made without a great deal of research and a commitment to finding a system that truly meets accountant specific needs. As technology moves forward, digital accounting or e-accounting, as a corresponding analog, refers to the representation of accounting information in the digital format, which can be then be electronically manipulated and transmitted. Digital accounting does not have a standard definition, but merely refers to the changes in accounting due to computing and networking technologies. All business areas, accounting and finance included, came under intense scrutiny as dot com businesses mushroomed. The rise and fall of the e-revolution had been spectacular and breathtaking. The accounting profession has been one of the last to adopt digital content management systems, and clients are starting to voice opinions about how firms can improve their service offerings and security. The purpose of this discussion paper is to explore the undermining threats of digital accounting and suggestion of mitigation plans. This study will identify these mitigation plans and how they may affect the future of the accounting.