Development of Computer Technology Application in Financial Accounting

Abstract

With the rapid development of China's economy, network technologies are emerging in an endless stream. Various advanced network technologies have driven the progress of society and the growth of enterprises. The rise of computer technology plays a vital role in corporate management and development. With the advent of the Internet era, major changes have occurred in the business environment of enterprises, which have not only broken the regional boundaries but also formed a global business market. Given the unprecedented trade volume of enterprises, the traditional manual financial accounting work can no longer meet the present demand. The introduction of computer technology has dramatically improved the efficiency of financial accounting while bringing substantial problems and challenges to the internal financial accounting at the same time. Modern network and communication technology make information increasingly open and transparent, which has not only broken the territory concept and boundary but also formed a global competitive market. Driven by advanced technology, enterprises have quickly launched new products to the market with a significantly shortened product life cycle. Facing such a fiercely competitive environment, for survival or development, enterprises have to reconsider and plan their business approaches, management models, operation procedures, organizational structures, and internal control systems based on future IT development.