1997 AICPA technology rankings - tax.

• Author: Maida, Joseph C.

Each year the AICPA Information Technology Division ranks technologies considered to be the most important for CPAs in the coming year. (The overall ranking of the top 10 technologies is published for internal and external use.) As part of this evaluation, the Information Technology Section publishes what it believes to be the most important technologies affecting the tax community. For 1997, the top technologies for tax practitioners are:

Image Processing

Image processing converts paper documents into electronic documents or digital images through scanning. The ability to store and transmit images in digital format can significantly streamline this workflow. Tax document imaging systems must comply with various state and Federal regulations; generally, these regulations require that documents be reproducible without using the original source software or hardware designed to create them. This means that the images must be stored in an industry-standard format that meets Treasury regulations.

Training and Technology

In today's age of continuously changing information, training and technology competency are the key to the success of any business. Tax practitioners have difficulty keeping up with the pace at which computer applications are modified. In addition, software vendors are consistently updating their products. The onslaught of advanced technology makes continuous training vital for users to make the most effective use of technology.

Telecommuting

Many tax practices rely on seasonal or part-time staff to perform routine functions. Telecommuting allows staff members to dial into the host system using portable equipment, and thereby work off-site. The equipment can be located at a client's office or from a home-based operation. By using such a virtual firm, many tax practitioners can expand and diversify their workload without increasing the physical size of their offices or staff.

Internet and Public On-Line

Services

The Internet has already been accessed by over 15 million people worldwide. This network of thousands of computer networks offers news groups, mailing lists, Internet chats and the ability to access computer networks from remote locations, file transfer protocols and the World Wide Web. Public on-line services (e.g., Prodigy, MSN, CompuServe, AT&T Worldnet and America Online) provide access to the information superhighway and feature electronic mail, people connections, timely news, magazine newsstands, personal finance...