IT In My Life As a Corporate Accountant

In week 4, our discussion focused on how IT plays a role in our specific industry. For me, it’s a big part of my career right now, technology is everywhere and super important in what I do. As an corporate accountant, information technology is essential in my daily tasks. We rely on various software systems to manage financial data, perform calculations, generate reports, and even automate journal entries. Tools like Power BI, Power Automate, VBA scripts, SAS, and TM1 help streamline our work, making processes faster and more accurate. These systems enable us to analyze financial data, create real-time reports, reconcile, audit, and improve efficiency by automating repetitive tasks like invoice processing and data entry.


In an environment so dependent on technology, being computer literate is crucial. Understanding how financial data flows through different systems and how they generate reports or journal entries helps accountants spot errors and troubleshoot issues when they arise. This knowledge not only ensures accurate reports but also allows accountants to apply these new technologies to future projects, improving efficiency and accuracy. Understanding these systems is crucial because when new changes or updates arise from FASB and IASB standards, accountants play a key role in guiding IT teams to adjust the software, ensuring it remains compliant with the latest regulations. Therefore, computer literacy allows accountants to communicate better with the people managing these softwares.

AI is significantly changing the accounting industry, both positively and negatively. On the downside, traditional roles like bookkeeping are being replaced by AI systems that automatically create journal entries and categorize transactions. This reduces the need for manual bookkeeping but frees up accountants to focus on more analytical tasks. AI helps automate routine processes, allowing accountants to spend more time on tasks like financial analysis and strategic planning rather than basic data entry. In my case, I've created automation for generating journal entries using VBA scripts, with AI assistance to help write the code, since I'm not able to code independently. I've learned while sifting through code and adjusted the code to fit my needs through AI prompting, automating these tasks would haven't been possible without AI. While this shift may reduce some job roles, it also offers new opportunities for accountants to grow in more advanced, data-driven areas. As AI continues to evolve, it will shape the industry by handling routine tasks and enabling accountants to focus on providing higher-level insights.

Comments

Post a Comment

Popular posts from this blog

Programming Languages In The Role Of An Accountant

Image
 As someone who spends their days working with numbers, spreadsheets, and financial reports, I never thought I would develop such a deep interest in IT and programming languages. But the more I learned in this course, the easier the IT side of my career I understood. Especially when dealing with scripts for excel automation, and dealing with other systems to manage data flows. Programming languages are essential because they allow us to give computers clear instructions to perform specific tasks and produce the outcomes we need. In the early history of computing, programs were written using simple binary code just 1s and 0s which controlled hardware directly. One early example was software developed to calculate Bernoulli numbers, laying the groundwork for future advances. Since then, programming languages have evolved dramatically, supporting everything from business applications to complex algorithms used in modern AI systems. Programming languages at its core still relies on har...
Read more

First Scratch Experience

Image
  First Scratch Experience      In the first week of TEC101 at UAGC, we were tasked with creating a small game using Scratch. I believe starting with a simple game and decided to feature my favorite videogame character, Mario from Super Mario Bros. Given that I am fairly new to Scratch and programming in general, I opted to design a simple game similar to the popular Flappy Bird – style genre that were widely played on mobile phones in the 2010s. The objective of the game like Flappy bird is to avoid the obstacle to achieve the highest score.          Initially, my experience with creating this program involved familiarizing myself with the different categories and commands available in Scratch. After understanding the limitations of each category, I realized that making my simple game was doable. I think the hardest part as I went through the programming phase was getting started, as I wasn’t sure how I would tackle programming the game...
Read more

Fundamental Concepts of Operating Systems

Image
Section 1 This particular week I learned about the major functions of an operating system which can be broken down into several core areas that work together to manage system resources and support program execution:  Memory Management – This function determines how much memory to allocate to each process and keeps track of which parts of primary memory are currently in use. It assigns memory when a program requests it and releases it once the process has completed. Throughout the course, I’ve also learned how closely memory management is tied to the storage subsystem. For example, virtual memory often relies on secondary storage as a backing store, and many systems allow files to be mapped directly into a process’s virtual address space. Because of this, memory usage and file system operations must be carefully coordinated to ensure smooth performance and data consistency. Processor Management – This function allocates CPU time to processes as needed. It creates, schedules, and t...
Read more