A Framework for Digital Accounting

A Framework for Digital Accounting

Ashutosh Deshmukh (Penn State University - Erie, USA)
DOI: 10.4018/978-1-59140-738-6.ch001
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Abstract

The term digital refers to digits or numbers; however, in the computer science lexicon this term refers to the representation of information in 0s and 1s, which can be read, written and stored using machines. The prefix “e” refers to electronic, meaning use of electricity in powering machines such as computers. Digital accounting, or e-accounting, as a corresponding analog, refers to the representation of accounting information in the digital format, which then can be electronically manipulated and transmitted. Digital accounting does not have a standard definition but merely refers to the changes in accounting due to computing and networking technologies. Accounting, the art and science of measuring business performance, has evolved with business, more so with information technology. Punch cards and mainframes, databases and data warehouses, personal computers and productivity software, specialized accounting software and Enterprise Resource Planning (ERP) systems, Local Area Networks (LANs) and Wide Area Networks (WANs), among other things, have left their mark on accounting theory and practice. For example, data-entry mechanisms, data storage and processing mechanisms, end reports, internal controls, audit trails and skill sets for accountants have been in continual flux for the past several decades.

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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