Explain the Three Fundamental Benefits of Information Technology to Accounting

question 15

Essay

Explain the three fundamental benefits of information technology to accounting information systems.

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Definitions:

Millions

A numerical unit equal to 1,000,000 or 10^6, often used in accounting and financial reporting to denote large values.

Cash Flow

The net amount of cash being transferred into and out of a business, reflecting the company's liquidity and overall financial health.

Stockholders

Individuals or entities that own shares in a corporation, thereby holding ownership interest in the company.