Research Topics: Effectiveness Of Accounting Software

Effectiveness of Accounting Software in Project Management

Effectiveness of Accounting Software in Project Management               The advancement of technology has brought countless blessings in   everyday life. Life became more convenient and easy in a lot of ways, from   household setting to academic researches. Workplace has also been touched by   the new discoveries adapting the latest technologies and software in   accomplishing more specific type of job. Today’s generation is immeasurably   blessed by the discovery of new technologies and they have their life ahead of   them waiting with bigger and better discoveries.               Indeed, scientists and experts seem to have endless researches   dissecting the best possible discoveries that will help mankind in life. And one   assistance technology can give to people is helping easily achieve a common   goal.               Every organization and enterprise has a goal. It is either to influence other   people with ideologies or to sell products to the larger market. Whatever it would   be, they need a systematic method for more integrated way of attaining the aims   of the group. Project management is the discipline of planning, organizing and   managing resources to accomplish specific goals and objectives. It is usually   temporary in a sense of one project at a time, constructing a building or creating   a new major computer system. Unlike in ordinary business operations which are   repetitive and permanent like produce a product or service, the goals under this   system is time-bounded in nature. Project management develops the necessary   plan which includes defining the goals and objective, identifying the possible   ways in attaining the goals, distributing tasks for each member, gathering   resources needed and determining the allotted budget and time for the whole   project.               The modern project management has marked its beginning in the 1950s,   but it’s important to note that informal project management has been around   since the early civilization. As a discipline, it developed from various fields such   as construction, engineering, telecommunications and defense. Project   management has enabled leaders to clearly plan massive projects managing   efficiently the funds, materials, labor and time frame designated. However,   project management could still be improved using the latest advancements in   technology.               Accounting software has been seen as a useful tool in helping the   integration of project management. Accounting software is a computer software   that records and processes transactions such as maintaining account balances,   payroll, inventory, fixed assets and trial balances. Shortly saying, it prepares   financial statements and reports. The software usually contains numerous   modules like spreadsheet and word processor. Even some high-end systems   have sales analysis and time billing. It is definitely ingenious digitalizing the once   manual and tedious process of accounting.               Accounting software’s effectiveness and efficiency has been highly   regarded by firms and businesses over the past decades. Aside from its   convenience, installation and maintenance costs are not steep and even small   enterprises could afford it.               Collaborative system between project management and accounting   software has been developed over the years for better utilization of both   methods. The combined integrated system is designed in supporting multiple   users of different sections of the projected plan. It covers scheduling, budget   management, resource allocation, communication and documentation. This   system is efficient in dealing with the complexity of large projects.               With the wide spectrum of usage the project management and accounting   offers, there would be likely high success rate in accomplishing projects goals   with outstanding results aligned with the budget and time. With the software   tools, the managers can track actual expenses on materials, labors and   miscellaneous expenses. On that note, constantly aware of the costs would get   the attention of the management on not going into the marginal costs. Thus, the   allocated budget would be estimated and not having additional expenses.               Moreover, tracking the project would notify the administration how the   project develops and be able to identify issues within the goal. Changes would be   quickly implemented if needed. Immediacy is important to keep the project   workflows and not waste any opportunities.  It is all about adjusting to the   situation. With the assistance of accounting software to the project management,   employees, managers, contractors, partners and clients will be constantly in line   with the project goals and objectives. Utilizing the software completely will lead to   better outcome and success.               The specialization in the terms of technology has created a massive   hysteria, invading every aspect of our lives. Even in managing human resources   and the job projects, technology has found its way. Developments and   discoveries will not stop until there would still be something to know about. But, if   it would be for better living, there is no harm in trying.                                             References:   Vitez, Osmond, What is the definition of accounting software?   Reh, John, Project Management 101 Haughey, Duncan, Project Management Methodology Explained www.allbusiness.com   Credit:ivythesis.typepad.com

Effectiveness of Accounting Software in Project Management

Effectiveness of Accounting Software in Project Management The advancement of technology has brought countless ble...