Writing assignment #3

As we know, technology has changed the way users rely on accounting information systems for processing accounting and financial data. Some of the technology changes includes, but is not limited to the following:

· Using XBRL to streamline the sharing of financial statements

· Implementation of digital signatures to sign electronic documents online

· Designing automated workflow to move electronic documents throughout an organization

· Electronic payment processing, such as direct deposit (ACH payments), EFT, and FEDI payments

For each of these advances, please address the following questions:

· What are some of the benefits in using the above-mentioned advances?

· What are some of the challenges in using the above-mentioned advances?

· Which of the advances should be considered as mandatory options for firms? Why?

· What additional technology advances and best practices should be considered as options for firms?

Your response must be at least eight complete pages long (excluding cover page, reference page, and appendix, if provided), using the APA writing style. You also must include at least two external reference (excludes textbooks / resources used in this class) and include at least two in-text citations (from your external references).