The Future Of Accounting Software. Within the first decade of the 21st century computing will have a major impact on the accounting profession. Virtually all businesses will interact with suppliers, customers and bankers electronically, client data will be instantly accessible over a secured internet link, and some companies will be audited on a continuous basis.

The Internet will be the principal force that all accounting applications software suppliers will build their applications on and around.

Required

A. Discuss ways in which the Internet will impact on accounting applications software.

B. What is the best approach for multi-divisional companies: (1) allow each operating unit to select the accounting system and chart of accounts most suitable for its business or

(2) standardize on a single accounting system and chart of accounts worldwide? Explain your choice.

C. What is the best approach for international companies: (1) maintain a single central source code which can cope with all requirements around the world or (2) use local resellers to customize the original code, using their own in-depth knowledge of the local market to make the required changes?

Explain your choice.