Any Topic (writer's Choice) – Coursework Example
Electronic commerce al affiliation E commerce means conducting business transactions electronically. It is not entirely a new conceptbut its use was developed with the increased use of the internet. There are a number of important uses of e commerce, which makes it an option for many businesses.
E commerce is used in retail and wholesale to sell goods through electronic stores. Marketing data such as consumer needs, preferences, and buying patterns can be obtained through e commerce. Finance institutions such as banks use e commerce to allow their clients to access their bank accounts electronically. It also enables electronic stock trading. Supply chain operations can also be streamlined by e commerce using electronic exchange. It can also facilitate consumer-to-consumer business transactions such as electronic auctions. The use of e commerce methods such as the point of sale system improves transactions and provides efficiency (Kogan, Sudit, Varsarhelyi, & 2009).
E commerce is important to accountants, those working for organizations as well as internal and external auditors. E commerce supports the proliferation of online accounting knowledge. This knowledge is important in the evolution of accounting procedures. The use of database accounting systems as oppose to paper based ledger accounts makes accounting information easily available. This concept enhances and changes public disclosure through electronic publishing. Because the accounting information published electronically is continuously, updated broader and deeper disclosure is possible. E commerce also enables remote computer based account ting such as remote bookkeeping, tax accounting, and auditing. The concept is effective in auditing because it is possible to conduct interactive distance auditing. E commerce also increases the reliance on tax authorities for tax audits (Kogan, Sudit, Varsarhelyi, & 2009).
Kogan, A., Sudit, F., Varsarhelyi, M. (2009). The future of accounting and electronic commerce on the internet. Texas CPA.