. A monumental change is emerging in accounting: the movement away from the decades- old method of periodic financial statement reporting and its lengthy closing process, and toward issuing financial statements on a real-time, updated basis ... real-time financial reporting provides financial information on a daily basis. Current technology allows financial events to be identified, measured, recorded, and reported electronically, with no paper documentation (Source: Real-Time Accounting," The CPA Journal, April 2005). Discuss the above statement explaining: Would a shift toward real-time financial statements make the financial information a more useful or less useful? More or less relevant? More or less reliable? In this regard, what is the potential role of the accountant