The Evolution of Accounting Software

The Evolution of Accounting Software

Ashutosh Deshmukh (Penn State University - Erie, USA)
DOI: 10.4018/978-1-59140-738-6.ch002
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Abstract

In the late 1950s and early 1960s, mega corporations of the day began to handle data that rivaled government requirements. This data could not be handled manually, let alone cost-effectively. Accounting and financial information, due to its repetitive nature and heavy volume, became a prime candidate for automation. Initial accounting programs were written for mainframe computers, not surprisingly, since IBM and its Big Irons ruled the computer world. Early mainframe computers were large, due to the ferrite core memory, and cumbersome. The processing intelligence was centralized in the mainframe. Mainframes served a large number of users, and data was processed in a batch mode. Users submitted data using dumb terminals and jobs were processed based on the length of the queue and priority of the jobs. Mainframes provided a high level of security and reliability. Minicomputers, pioneered by the Digital Equipment Corporation, had similar capabilities but were smaller and less powerful. Currently, distinctions between mainframes and minis are very blurred, and for our purposes make very little practical difference.

Complete Chapter List

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Dedication
Table of Contents
Preface
Ashutosh Deshmukh
Acknowledgments
Chapter 1
Ashutosh Deshmukh
The term digital refers to digits or numbers; however, in the computer science lexicon this term refers to the representation of information in 0s... Sample PDF
A Framework for Digital Accounting
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Chapter 2
Ashutosh Deshmukh
In the late 1950s and early 1960s, mega corporations of the day began to handle data that rivaled government requirements. This data could not be... Sample PDF
The Evolution of Accounting Software
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Chapter 3
Ashutosh Deshmukh
The Internet spins a vast web of information across the globe. Data and information flow freely — available to anyone for learning, understanding... Sample PDF
The XML-Based Web Languages and Accounting
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Chapter 4
Ashutosh Deshmukh
Before the dawn of the computer age, intra- and inter-business activities, especially purchasing and selling of products and services, were... Sample PDF
Electronic Data Interchange
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Chapter 5
The Revenue Cycle  (pages 131-189)
Ashutosh Deshmukh
The revenue cycle deals with the delivery of products or services to customers and consequent collection of cash from customers. The standard... Sample PDF
The Revenue Cycle
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Chapter 6
The Expenditure Cycle  (pages 190-229)
Ashutosh Deshmukh
The expenditure cycle consists of the ordering of goods and services from suppliers and consequent payments to the suppliers. The generic... Sample PDF
The Expenditure Cycle
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Chapter 7
The Conversation Cycle  (pages 230-259)
Ashutosh Deshmukh
The conversion cycle spans a range of activities — product design, production planning and control, and cost accounting. Product design is a... Sample PDF
The Conversation Cycle
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Chapter 8
The Gender Ledger Cycle  (pages 260-292)
Ashutosh Deshmukh
The general ledger cycle consists of posting of entries from special journals, subsidiary ledgers, and general journal to general ledger; as well as... Sample PDF
The Gender Ledger Cycle
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Chapter 9
Ashutosh Deshmukh
A dominant trend in information technology is the convergence of different software functionalities. Even after the dot-com bust or, perhaps because... Sample PDF
Financial Management, Strategic Management and Digital Accounting
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Chapter 10
Ashutosh Deshmukh
Internal controls have existed since the dawn of business activities. Internal controls are basically systems of checks and balances. The purpose is... Sample PDF
Controls, Security, and Audit in Online Digital Accounting
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About the Author