Write informative introductions; On-coherent theses; well-developed, organized, and supported body paragraphs; and conclusions that are persuasive and supported by effective research
Accounting automation is the process of automating the various tasks associated with accounting, such as bookkeeping, invoice management, and financial reporting. Automation can make these tasks much easier and faster to complete, liberating accounting professionals to focus on more strategic tasks. There are many software programs available that can automate various accounting tasks. For example, bookkeeping software can help keep track of income and expenses automatically. Invoice management software can help save time by generating invoices and managing payments electronically. Financial reporting software can automate the generation of financial reports. There are different argument surrounding accounting automation. While some people argue that accounting automation is a good thing because it can speed up the process of creating financial reports and detecting fraudulent activity, others argue that accounting automation is a bad thing because it can lead to layoffs, increased errors, and decreased transparency. The purpose of this assignment is to support the importance of accounting automation and the benefits it can create to an organization.
Using accounting automation tools can save a lot of time and effort, freeing up accountants to provide more value-added services to their clients. Application of accounting automation tools can save businesses a lot of time and effort (Fernandez et al. 16). Automating accounting processes can help businesses keep track of their finances more accurately and efficiently. Additionally, automating accounting processes can help businesses comply with financial regulations more easily. Implementing an automated accounting system can ultimately help businesses save time and money and maximize on the revenues and profits in the course of operation. Accounting automation tools can enhance organization’s overall accounting and financial operations by automating the entry of transactions into the accounting system, reconciling account balances, and generating accurate financial reports. In addition, these tools can help improve the accuracy of your records by automating the posting of journal entries and other transactions.
Accounting automation is a great technological approach that can speed up the process of creating financial reports. Automated systems can quickly compile data from a variety of sources and create accurate reports in a fraction of the time it would take a human accountant. This can save businesses time and money, and allow them to stay on top of their finances more easily. Organizations that embrace accounting automation often reap the benefits of speedy financial reporting (Fernandez et al. 19). By automating various aspects of the accounting process, such as invoicing, payments, and collections, organizations can gain efficiencies in both time and cost. In addition, automating accounting processes can help to improve accuracy and certainty in financial reporting. As a result, organizations that implement accounting automation can realize significant improvements in their overall financial performance.
Detection of Fraudulent Activities
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Accounting automation can help to detect fraudulent activities and enhance efficiency in the overall operational processes. Fraudulent activities in accounting can have a major impact on accountants and the accounting profession. There are a number of potential consequences that can result from fraudulent activities, including criminal charges, loss of professional licenses, and damage to one’s reputation. In some cases, fraud can also lead to civil liability. Accountants who engage in fraudulent activities typically do so in order to hide information or to misrepresent financial data. This can make it difficult for investors and other interested parties to make informed decisions about businesses or organizations. Additionally, it can erode public trust in the accounting profession as a whole (Harrast 24). When it comes to fraudulent activities in the accounting process, automation can help to detect such activities in a number of ways. For starters, it can help to reduce the amount of manual entry that is required, which in turn can help to make it easier to spot errors and discrepancies. Additionally, automated accounting systems typically have built-in controls and auditing features that can help to flag suspicious activity. In short, by automating the accounting process, you can make it much easier to detect and prevent fraud.
Improvement in Accuracy and Efficiency
Accounting automation can improve accuracy and efficiency in the accounting processes. There are a number of ways that accounting automation can improve the accuracy and efficiency of accounting. By automating the entry and recording of financial transactions, for example, businesses can reduce the chances of making mistakes with their accounts. Automated systems can also help to speed up the process of creating accurate financial statements and other reports. This can save businesses time and money, as well as making it easier to keep track of their finances (Kokina et al. 17). Finally, automated systems can help to make sure that accountants have more time to focus on strategic tasks such as planning and analysis, rather than on grunt work like data entry. Accounting automation can improve planning and analysis by reducing the time it takes to compile information and preparing reports. Automated systems can also help track performance indicators and trends in the business. This information can enhance better decisions making processes on how to allocate resources and how to improve bottom line. The increased accuracy in accounting that can be achieved through the use of accounting automation is due to the removal of many potential human errors that can occur when data is manually entered into a system. In addition, by automating certain tasks related to bookkeeping and accounting, businesses can save time and money, which allows them to focus on their core business functions. Automated systems also provide businesses with detailed reports and analytics that can help them make better decisions about where they should allocate their resources in order to improve their bottom line.
Accounting automation can free up staff time to focus on other tasks that are more important to the company. There are many benefits to implementing accounting automation, one of which is the freeing up of staff time to focus on other tasks. Automated systems can handle many of the routine and time-consuming tasks related to bookkeeping and accounting, such as data entry, invoicing, and payments (Kokina et al. 21). This leaves employees free to devote their time and energy to more value-added tasks, such as strategic planning, client relations, and product development. Automated systems also help ensure precision and consistency in financial reporting. In addition, they can improve cash flow by allowing businesses to process payments more quickly and efficiently. Overall, accounting automation can save businesses both time and money while freeing up staff members to focus on more important tasks.
Data Security
There are many ways that accounting automation can improve data security in an organization. For example, by automating repetitive and time-consuming tasks, organizations can free up resources that can be devoted to more important cybersecurity initiatives. Additionally, automating accounting processes can help to ensure consistency and accuracy in data entry, minimize human error, and reduce the possibility of fraud or malicious activity (Kokina et al. 19). Furthermore, accounting automation can help to streamline communications between different departments within an organization, which can in turn improve information sharing and collaboration on cybersecurity efforts. By implementing an automated system, businesses can also take advantage of audit trails and other logging features to monitor activity and investigate potential incidents more effectively. Implementing proper security measures is vital for any organization serious about averting possible cyber threats.
The importance of accounting data security cannot be overstated. The financial stability of a company and its shareholders depends on the accuracy and security of the financial data that is stored in accounting systems. Any breach of this data can have disastrous consequences, including loss of revenue, fines, and even bankruptcy (Harrast 23). That is why it is so important for companies to take steps to protect their accounting data from theft or accidental loss. This can include using firewalls and encryption software to secure network traffic, implementing password policies to restrict access to sensitive files, and training employees in safe data handling practices. By taking these precautions, companies can help ensure that their financial data is kept safe and confidential.
Opposing Viewpoint
Arguments against accounting automation are based on the premise that robotics and artificial intelligence could lead to layoffs and decreased transparency in the accounting profession. Opponents of the accounting automation base their arguments on a few potential risks associated with accounting automation that businesses should be aware of before implementing any sort of automated system (Harrast 18). One risk is that accounting automation can lead to layoffs, as businesses will no longer need as many human employees to do the work. Another risk is that automated systems can produce more errors than humans, and these errors can be costly. Finally, automating accounting can decreased transparency into a business’s finances, making it more difficult for stakeholders to understand where the money is going and how it is being used. While there are some risks associated with accounting automation, businesses should weigh these risks against the potential benefits before making a decision. Ultimately, whether or not accounting automation is a good choice for a business depends on specific factors which are to be based on the conditions of business operation.
There are many reasons why the benefits of accounting automation outweigh the disadvantages. perhaps the most important reason is that automating accounting tasks can free up time for staff to focus on more strategic, revenue-generating activities. Automation can also improve accuracy and efficiency while reducing costs. When done correctly, accounting automation can filling in the shortcomings of manual processes and human error. For example, automating entry into a ledger can eliminate transcription errors, and software programs can check for mathematical mistakes that manually-entered calculations may create avoiding costly mistakes down the line. As another example, many small businesses don not have dedicated accountants or bookkeepers on staff, but with automated solutions in place, business owners can take undertake various accounting activities.
Conclusion
Automating accounting can save a business a lot of time and money. By automating the process, accountants can achieve accuracy and security of financial information. Additionally, they can free up staff to work on more important tasks. By automating various aspects of the accounting process, such as invoicing, payments, and collections, organizations can gain efficiencies in both time and cost. In addition, automating accounting processes can help to improve accuracy and certainty in financial reporting. As a result, organizations that implement accounting automation can realize significant improvements in their overall financial performance. While there are many benefits of automation, it’s important to remember that no machine is perfect. Automated systems can make mistakes, and when they do, the consequences can be serious. That is why it is important for organizations to have a solid backup plan in place in case of an automated accounting error. That means having a team of skilled accountants who can review transactions and correct any mistakes made by the automation system. Automation is a great way to save time and money, but it’s always important to remember that human beings are still needed to keep things running smoothly.
Works Cited
Fernandez, Dahlia, and Aini Aman. “Impacts of robotic process automation on global accounting services.” Asian Journal of Accounting and Governance 9.1 (2018): 127-140. https://www.researchgate.net/profile/Dahlia-Fernandez/publication/331920582_Impacts_of_Robotic_Process_Automation_on_Global_Accounting_Services/links/5c9336ba45851506d71f7b70/Impacts-of-Robotic-Process-Automation-on-Global-Accounting-Services.pdf
Harrast, Steven A. “Robotic process automation in accounting systems.” Journal of Corporate Accounting & Finance 31.4 (2020): 209-213. https://onlinelibrary.wiley.com/doi/abs/10.1002/jcaf.22457
Kokina, Julia, and Shay Blanchette. “Early evidence of digital labor in accounting: Innovation with Robotic Process Automation.” International Journal of Accounting Information Systems 35 (2019): 100431. https://doi.org/10.1016/j.accinf.2019.100431
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Course Outcomes
In this project, you will demonstrate your mastery of the following course outcomes:
(ACCOUNTING AUTOMATION)
• Write informative introductions; On-coherent theses; well-developed, organized, and supported body paragraphs; and conclusions that are persuasive and supported by effective research
• Utilize appropriate research for developing a well-informed position through written composition
Overview
Persuasion is a constant in each of our lives. No matter where we look, what we read, what we see, or whom we interact with, we inevitably encounter some form of persuasion. Advertisements want us to buy things. Media outlets sometimes want to convince us of how we should feel about events. We are put into positions where we must defend our thoughts and beliefs to others, and the process we apply is typically some form of persuasion.
Persuasive writing is a powerful form of writing—it can influence thoughts and has the ability to change minds about an issue. The persuasive essay is an ideal tool for supporting an opinion on an issue using researched facts and information. It also gives you, as the writer, the chance to recognize an opposing viewpoint and refute it, noting that at least part of the intended audience of the piece will be people who hold that opposing viewpoint.
Directions
For this essay, you will identify an issue in your area of study or the field you want to work in someday. You will then establish an argument and support that argument with research and relevant evidence. Specifically, you must address the following rubric criteria:
1. Introduction: The introduction is where readers will have a chance to get an idea of what your essay will be about and what you will prove throughout. Do not go into too much detail here but give readers a preview of what is to come. Remember to review your writing plan to ensure that you are briefly hitting the key points you planned to cover while also stating your claim.
. Provide an overview of the issue you have selected by briefly describing the main points and your argument.
A. Compose a thesis that states the argument that you will attempt to prove and support throughout your essay. This statement will give direction to your essay and should be well thought out.
2. Body: The body is your opportunity to describe and support your argument in depth. Make certain your thoughts and evidence are clear and organized in a way that is easy for readers to follow and understand.
. Ensure that you write multiple focused paragraphs, clearly state their main idea, and move logically from one to the next, building the thesis argument as the essay progresses.
A. Your body paragraphs should support your argument by purposefully combining ideas with evidence from sources. The key to a persuasive essay is how well it is supported with quality evidence.
B. Address and refute at least one opposing viewpoint to your argument, which is your chance to discredit a significant opposing view and strengthen your argument in the process.
3. Conclusion: Think of the conclusion as a review of your argument. Use this section to restate your argument and remind readers of your supporting evidence. This paragraph is your last chance to persuade readers to agree with you.
. Briefly summarize the main points of your essay. This section should consist of a brief review of your main ideas.
A. Draw conclusions based on your evidence.
. Use evidence that you have found to wrap up the essay in a meaningful way that makes a connection to your audience.
Guidelines for Submission
Your persuasive essay draft must be 5–7 pages (plus references) and must be written in MLA format. Use double spacing, 12-point Times New Roman font, and one-inch margins. Include at least three references in MLA format.
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| Module Five Assignment Rubric | ||||
| Criteria | Proficient (100%) | Needs Improvement (75%) | Not Evident (0%) | Value |
| Introduction: Overview | Briefly provides an overview of the issue being analyzed and briefly describes the main points of the argument | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include brief descriptions of each point | Does not attempt criterion | 10 |
| Introduction: Thesis | Composes a thesis that states the argument that will be supported and proven throughout the essay | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include more clarity and relevancy | Does not attempt criterion | 10 |
| Body: Main Idea | Writes multiple focused paragraphs, clearly states the main idea, builds the thesis, and moves logically from one to the next | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include building the thesis or argument or moving logically through each paragraph | Does not attempt criterion | 20 |
| Body: Argument Support | Communicates the argument through the body paragraphs by purposefully combining ideas with quality evidence from the sources | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing stronger evidence in purposeful combinations | Does not attempt criterion | 20 |
| Body: Opposing Viewpoint | Addresses and refutes at least one opposing viewpoint in a way that strengthens the argument | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include refuting in a way that strengthens the argument | Does not attempt criterion | 10 |
| Conclusion: Summarize | Briefly summarizes the main points of the essay | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include staying brief and relevant | Does not attempt criterion | 10 |
| Conclusion: Evidence | Draws conclusions based on the evidence to close the essay in a meaningful way that relates to the audience | Shows progress toward proficiency, but with errors or omissions; areas for improvement may include briefly closing the essay with evidence or by connecting to the audience | Does not attempt criterion | 10 |
| Articulation of Response | Clearly conveys meaning with grammatical choices, sentence structure, and spelling, demonstrating an understanding of audience and purpose | Shows progress toward proficiency, but with inconsistencies in grammatical conventions, sentence structure, and spelling, negatively impacting readability | The submission has critical inconsistencies in grammatical conventions, sentence structure, and spelling, preventing understanding of ideas | 5 |
| Citations and Attributions | Uses citations for ideas requiring attribution with consistent minor errors | Uses citations for ideas requiring attribution with major errors | Does not use citations for ideas requiring attribution | 5 |
| Total: | 100% | |||
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