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Technology is increasingly used to process accounting data. Why then must we study and understand accounting?

Technology is increasingly used to process accounting data. Why then must we study and understand accounting?

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Technology is just a tool used to process the system but without proper understanding, technology will be unable to solve our purpose. Technology prevents human eerors and provides accurate records but for better understanding of transactions from the beginning we need accounting. In addition to this accounting technology can be tailor made and customized according to the need but to analyze the need we need detailed information on accounting

Accounting is something that everyone should have at least a basic understanding of the fundamentals. The fact that most of it is done automatically by computers does not negate the need to understand essential elements of budgeting and costing — these are tools everyone should be able to use in their household. Likewise, an understanding of basic banking is relevant to having sufficient life skills to navigate an evermore advanced world.

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