E-Commerce to Sell Goods in Retail and Wholesale - Coursework Example

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 an 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 opposed 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 continuous, updated broader and deeper disclosure is possible.