Can An Accounting Information System Substitute An Accountant?

The development of modern technologies in accounting models has got a great foundation for growth. Defining accounting as a system, it is obvious that the data of such a system will be based on quite familiar to us principles - mathematics. The earliest reference to the fact that the basis of accounting is just a mathematical component contained the work of an Italian monk L.Pacioli in "Treatise on the accounts and records" and till this day all the manual and computerized accounting systems in their logical construction are based on the principles and processes, that Pacioli described. However, if we try to trace the development of accounting from that time, we will see that the majority of the authors treated the mathematical component of accounting as granted. At the same time mathematical approach was often offset against the backdrop of the development of different accounting forms and techniques dictated by procedural accountants thinking. As far as any accounting operation can be represented by matrix equations this adds to the understanding of alternative processes of recording transactions and the mathematical generation of essential accounting reports