Information Technology Stakeholders Research Paper

Information Technology Stakeholders - Research Paper Example Computer based software however exist that facilitate accurate recording of the subject data and computations in developing financial statements and in analysis of such statements for informed decision making by relevant stakeholders. The technology would be applied through integrating appropriate accounting based software into accounting computer devices. Once installed, data will be fed into the software application and managed in accordance with the software’s commands. This would however require personnel’s training on application of the selected software (Vijay, p. 394). Computerized accounting has a number of benefits as compared to manual accounting approach. It is for example fast because computations are automatic through in built software tools. This means that any required accounting information can be generated on demand to meet an immediate need. Application of computerized accounting also ensures a high level of accuracy in the generated accounting information to ensure reliability and validity of prepared and communicated accounting information. This further means that decisions that are made from computerized accounting systems are more accurate. Another advantage of the computerized accounting system is its high level of efficiency in handling large volume of data with respect to time and accuracy. It also makes automatic update of information in all relevant files upon a single entry, an application that eliminates accounting errors from multiple entries (Vijay, p. 394). The process has a number of stakeholders. The most significant is the college, the owner of information that will be accounted for by the applied technology. Another group of stakeholder to the process is the students, their parents, or their guardians who will be interacting with the accounting process in remitting payments of payment related documents. External auditors and professional