Briefly explain the various roles that future accounting professionals can play.

Discuss some of the challenges facing business today.
Chapter 1: Introduction
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Discussion Questions 1. Discuss some of the challenges facing business today. Does information
technology play a role in these challenges? Explain. 2. Giving examples, discuss how information technology is revolutionizing the
accounting function and what accountants do. Contrast accounting tasks before and after the “information technology revolution.”
What is the role of the accounting professional in the database approach to satisfying business information needs? Be specific.
Explain the purpose of accounting. Distinguish between the purpose of accounting and the traditional methodology used in accounting.
Who are the “information customers” served by accounting. Provide examples. 6. Describe the traditional view of accounting and the manual accounting process. 7. What are the problems associated with the traditional view of accounting? 8. Distinguish between “transactions orientation” and “events orientation.” 9. Accounting has been criticized for adopting a narrow view focusing only on the
financial aspects of transactions. Giving examples, explain how accounting can move beyond purely financial measurement of transactions.
Distinguish between periodic and real-time reporting. From an accounting standpoint, does real-time reporting present any problems? Explain.
Explain why the accessibility of data in a manual accounting system is limited. 12. Traditional manual accounting systems are often criticized because accounting
data are stored in too aggregate a form and because of the limited flexibility in answering cross functional queries. Are these criticisms valid? Explain why or why not.
The two unique aspects of the database approach to accounting are (1) events orientation and (2) enterprise-wide repository. Explain each of these two aspects of the database approach.
What are the advantages of the database approach to accounting in contrast with traditional manual accounting?
Briefly explain the various roles that future accounting professionals can play.