UK Why has accounting not evolved as fast as banking


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Why has banking evolved into the current status where individuals can have instant updated status of their account balance, considering the numbers of transactions that goes on in the banking world.

Yet a companies Finance Head can not get an instant current status of a division within his company (less volume of transactions).
 
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kirby

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For a given bank using a banking system, all transactions are recorded in one system and the info is typically immediately available, as you say.
For acctg info, there are multiple sources of info that have to be gathered, reviewed, and presented in a financial statement, where some judgment may need to be applied. All this takes time.
So very much an apple and orange situation.
 

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