Unit 15 Reading Activities Plus Questions

Read the following text and then complete the activities that follow.

The Future of Accounting

Since man started conducting business almost 7000 years ago, there has been a need to record and track these transactions - from this need came accountancy. As business changes so, too, does accounting and prior methods are forced to change- so the question is: how will accounting change as we move into the future?

There are many predictions on this topic, but in this article we have selected our top 5 for you.

1. Web-based technology

Although there are already web-based accounting solutions, we expect to see the number and functionality of them improve greatly in the coming years. These solutions will include software which integrates with the various government taxation organs. The result of which will be a system where compliance work is automated.


Create a free account to continue or login

"We hope you have noticed that this site is not like the others. It is free from advertising, spyware, and annoying clickbait. Therefore, we rely 100% on our user base for financial support. In fact, this site would not exist without the support of our hundreds of loyal subscribers. Your support begins with a free registration. Thank you."

Not convinced? Read our About us or Clients pages for more info, including testimonials, case studies, and more.

Quiz: Reading Questions

1. Arising from the reduction of compliance, accounting firms will undertake new services and will be able to bill more hours to stay afloat.
2. It is estimated that most accounting firms have fewer than 5 staff in this cottage industry and that small firms are merging to extend their range of services.
3. In conjunction with duplication of red tape, reallocation of accounts is needed.
Please register and/or login to answer these questions.