CAS, which is periodic, is inconsistent with the need for real-time accounting. Real-time accounting is practiced in many situations. RTA can be found in customers' account processing and in purchasing, selling, and inventory updating. New enterprise oriented virtual accounting will make accounting more translucent and will eventually support organizational process re-engineering efforts. Object Oriented Computing, where programs are small code chunks called objects, is what accounting systems will adopt instead of building the current vastly complex accounting system to complete the intertwined accounting cycles.
Accounting systems can benefit from information technology enabled work-group computing.
An example of work group computing is shown in Table II below. It is noteworthy that, in this example, accounting is included within work group computing scheme and does not function as an isolated entity. An example of workgroup computing for a wholesale distributor Sales person initiates the sales by taking orders, checking inventory, preparing the price quotes through a networked or modem based workstation or laptop. Uses cooperate database. Client reviews the order, confirms by signing on a digitized pad, updates order level, accounts payable, accounts receivable, sales commission, and copies documents electronically to sales person, accounting, finance, inventory, shipping, and the manager.