Information and Communications Technologies Essay

Information and Communications Technologies - Essay Example The job also requires knowledge of financial and accounting software applications, government financial regulations, the ability to analyse financial data, and prepare financial reports, statements and projections (HR Village 2007). Information and communications technologies, ICT, play a vital role in supporting the activities of organisations. ICT encompasses hardware and software products; information system operations and management processes; human resources and skills required to use ICT for the production of information; and information system development, management and control. Accountants are expected to have the required level of competence to perform the work required. ICT is one of the core competences required of accountants, even as provided in the GAAP. ICT is affecting the way in which organisations are structured, managed and operated. It is changing the nature and economics of accounting activity (Skidmore 2002). This paper takes a look at the author's personal professional experiences with ICT in the role of a management accountant, how the author's ICT skills have improved personal performance, and how these improved personal performance through the use of ICT has improved the wider organisation's performance from the perspective of management accounting. Using information technology in my profession My role as management accountant involves applying the principles of accounting to analyse financial information and prepare financial reports by compiling information, preparing profit and loss statements, and utilising appropriate accounting control procedures (HR Village 2007). To accomplish my tasks, I use several ICT applications. Standard office applications for word processing, spreadsheets and presentation graphics such as those provided by Microsoft Office are some of the ICT software that I regularly use. MS Word allows me to create professional looking reports and other communication which I can format myself or use templates available within the software. I can highlight important text with different font and typestyle options. MS Excel is also an indispensable tool because it allows me to create spreadsheets with ease. The built-in functions also provide capabilities for calculations with a formula, summarising numeric data, as well as creating graphical charts for easier visual appreciation of trends and distributions. MS PowerPoint is another software I use, especially for easy to understand presentations to management or other non-accountant groups. I can incorporate text, numbers and even graphic images to drive home the points I am trying to make. I also use MS PowerPoint when I orient accounting staff on accounting policies and procedures. I use SAP accounting software for to help me deliver accurate financial reports fast, accelerate cash flows through shorter reporting cycles and receivables, and turn information into effective execution of business strategy so that as management accountant I can be a strategic partner to the business (SAP 2008). I also use Hyperion Essbase, an online analytical processing server, OLAP, to developing custom analytic and enterprise performance management applications useful to my functions as management