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THE IMPACT OF TECHNOLOGY AND GLOBALIZATION

ARTICLE WRITTEN BY  kate   gerasimova   “The Critical Role of Ethics and Culture in Business Globalization.”

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Management Accounting is always evolving due to changes in the business environment.

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Increase production Reduce cost Increase safety to attract attention

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Technological advances can directly affect managerial accounting reports, let’s take overhead costs as an example.  Automation is a method of using systems such as computers or robots to operate different processes and machinery to improve efficiencies and lower direct labour costs T he growth of the internet and the speed by which information is shared, businesses can now communicate with employees from around the world within seconds.

There are many areas of technology that businesses have  already used,  but in order to continue reaping those benefits, these companies need to adjust quickly with the ever-advancing business technology.

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Globalization the development of business through international influence or extending social and cultural aspects around the world.

It  has expanded our competitive borders, giving customers more alternatives. Customers can order an item from another country with the click of a button and have that item delivered in a few days or less . Globalization affects management accountants in several ways. Companies need real-time, accurate information to make good decisions, so  timelier and  accurate information is needed . As  business  expand globally, managers need to know the cost of operating internationally, as well as the laws, rules, and customs. Globalization also can expose companies to improvements in running  a business.

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Positive And Negative Consequences of Globalisation

Advantage: creating jobs, developing industries, differentiating and expanding their markets and etc. Disadvantage: causing global warming and climate change

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