Discuss the value of Information Technology and Management Information Research Paper - 1

Discuss the value of Information Technology and Management Information Technology to you and your chosen profession (mine is Accounting) - Research Paper Example On the other hand, Accounting is an important aspect of all companies. Unlike IT and MIS, Accounting has been in existence for the longest time. This mainly addresses the financial state of a company. It involves bookkeeping, which involves bank statements, company ledgers, and the overall tracking of finances in the company, including money in, money out, and business assets. Today, there is a high level of interaction between different disciplines. Similarly, the fields of accounting, IT, and MIS show a high level of interaction, as the field of accounting adopts the skills and knowledge of IT and MIS in its processes. Nonetheless, the nature of IT and MIS make them to be applicable in diverse disciplines. This paper therefore, will focus on the value of information technology and management information systems in the field of accounting. The field of accounting today has become dependent on information technology and management information systems, as it adopts various elements in these, to enhance the efficiency of its processes. In information technology, there are a myriad of new integration approaches, as well as effective methods of managing data. Therefore, use of information technology translates into increased efficiency in data retrieval and storage, and overall management of data in accounting. Therefore, this aspect of information technology is valuable in accounting, since it makes the different procedures and processes in accounting to be simple, and leads to an increased and focused use of computed information in the field. Therefore, with regard to efficiency in accounting, information technology has played the major role in achieving this. Nonetheless, with the advancements in information technology, it is expected that the field of accounting will as well adopt the new techniques in information tech nology, and therefore, increase its