Technology Forever Changed the Accounting Profession [Infographic]

The accounting profession dates back to 1494 when Luca Pacioli was the first to describe the system of debits, credits, journals and ledgers. The famous Leonardo da Vinci was one of Pacioli’s students. In 2010, 1,216,900 accountants were employed. The profession, which boasts a median annual salary of $61,690, is expected to grow 16 percent over the coming years.

Computer programs such as VisiCalc (1978), Quickbooks (1998) and SaaS (software as a service) have forever changed the profession. Before these types of programs, entries were done manually and small mistakes could mean hours of recalculation and lost money. These programs have lowered the margin for error, made mistakes easy to find and correct, and simply got the job done faster.

Today’s accountant has become a business consultant rather than a mathematical tool. They are expected to recommend best-practices to management and suggest ways to reduce costs while improving profit. To learn more about how the profession has changed due to technology, check out the infographic below.

How Accounting Has Been Changed Over Time With Technology

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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