Future Accounting Trends

The development of information and communication technology in transactions and taxes will have an impact on future accounting developments, that accounting is no longer producing financial reports but accounting as a financial information system in resource management or what is called ERP (Enterprise Resource Planning).

In ERP (Enterprise Resource Planning) Accounting will be connected with various transactions, data and information both in the field of human resources and payroll, raw material resources for relationships with suppliers, market resources related to CRM (Customer Relationship Management) and with financial information itself. .

In management, it will develop into ERP (Enterprise Resource Planning), and in IoT (Internet Of Things) it will be connected to sensors, especially with product sensors or product code codes both in purchases and sales that are integrated with cashiers or point of sale and general ledger.

In terms of taxes, it will also be directly connected to taxes, so that each transaction will be reported tax both in sales and purchase transactions. Thus the function of accountants is no longer recording or general ledger, but rather analyzing and providing financial recommendations to companies. (Biizschool).

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