Information Technology

Computer processing power will double every 18 months

Moore’s Law

The Information Revolution since World War II, dominated by the computer, is integrated with the latest accounting technologies. Moore’s Law is operating effectively, all part of a broader evolution including mass communications, global business, and access by virtually anyone.

A basic characteristic of accounting is repetitive entries: thousands of sales and receivables, inventory, and payroll transactions. Large paper accounting worksheets and No. 2 pencils, special journals, and subsidiary ledgers were early answers. The 20th century saw the mechanization of repetitive transactions using tabulating machines and, mid-century, the computer. ...

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