Accounting and technology system | Assignment

ACCOUNTING
AND
TECHNOLOGY SYSTEM
PART B

2
Table of Contents
DATA ANALYSIS AND INTERPRETATION.............................................................................3
PRIMARY ANALYSIS..............................................................................................................3
CONCLUSION AND RECOMMENDATION.............................................................................25
Conclusion.................................................................................................................................25
Recommendation.......................................................................................................................26
APPENDIX....................................................................................................................................28

3
DATA ANALYSIS AND INTERPRETATION
PRIMARY ANALYSIS
Theme 1: Most of the respondents are Male.
PARTICULARS ACCOUNTANTS
Male 45
Female 30
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 45
participants are male and actively participate in survey to give clear set of guidelines to
effectively analyse and review the benefits and factors of accounting & technology system in the
business world. Other remaining 30 respondents were female who actively participated in survey
to give clear guidelines and set principles effectively and efficiently for in- depth knowledge on
the particular subject matter. The conducted survey helps in efficiently guiding the principles and
explore more to achieve reliable and effective data.
Male Female
0
5
10
15
20
25
30
35
40
45
ACCOUNTANTS

4
Theme 2: Most of the respondents are aged between 30 to 45 years.
PARTICULARS ACCOUNTANTS
Below 15 years 2
Between 15 years to 30 years 13
Between 30 years and 45 years 35
45 years and above 25
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 35
respondents were aged between 30 to 45 years who actively participated and give effective
knowledge on the particular subject matter. Other 25 accountants who aged 45 years and above
participate to give their viewpoints on effectively evaluating the significance of the accounting &
technology system to gain higher knowledge and get descriptive analysis on the particular
subject matter. Other remaining 15 respondents who aged between 1 to 30 years participate but
they do not have significant and sufficient knowledge on the particular subject matter.
Below 15 years
Between 15 years to 30 years
Between 30 years and 45
years
45 years and above

5
Theme 3: Maximum number of respondents are aware of innovation in technology in
accounting process.
PARTICULARS ACCOUNTANTS
Yes 36
No 14
Not Sure 25
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 36
respondents sought to agree and said that they are aware of innovation in technology in
accounting process, which leads to higher productivity and efficiency in the organization. Other
25 respondents were not sure enough and did not give any confident answer regarding this
particular theme. Remaining 14 accountants were not aware of increasing innovation in
technology in accounting process. Theses people were old and were using traditional technology
who did not have much knowledge regarding the innovation and increase use of technology.
Yes No Not Sure
0
5
10
15
20
25
30
35
40
ACCOUNTANTS

6
Theme 4: Maximum number of accountants strongly agreed on the fact that technology is
beneficial in accounting.
PARTICULARS ACCOUNTANTS
Agree 20
Strongly agree 35
Disagree 10
Strongly disagree 5
Neutral 5
Interpretation: From the above survey conducted from 75 different accountants
of UK based companies in accounting and technology in business world and it is identified that,
55 (20 + 30) accountants strongly agreed on the fact that technology is beneficial in accounting
process and leads to higher operational efficiency and productivity. They also said that
implementation of innovative and advanced technology leads to achieve economies of scale
witch lower cost and higher profitability. 15 (10+5) respondents disagreed and said that
Agree
Strongly agree
Disagree
Strongly disagree
Neutral

7
technology does not add any value to the business. On the other hand, it increase cost on
implementation, training and development to use that technology. Remaining 5 respondents were
neutral and were not sure about their answer regarding this theme.
Theme 5: Reduce cost of doing business, is the major role of technology in accounting in the
business world.
PARTICULARS ACCOUNTANTS
Reduce wastage 13
Track process and activities 25
Reduce cost of doing business 37
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 37
accountants said that the major role of technology in accounting in the business world is that it
helps in effectively reinducing the cost of doing business and help attain economies of scale
effectively. Other 25 respondents said that technology implementation helps in tracking activities
and accounting process for smooth functioning of the business. Remaining 13 respondents said
Reduce wastage
Track process and activities
Reduce cost of doing business
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
ACCOUNTANTS

8
that the core function of technology is that it helps in reducing wastage and achieve goals of the
company for higher productivity and efficiency .
Theme 6: Most of the respondents think that technology helps in saving and controlling debt
of the business.
PARTICULARS ACCOUNTANTS
It helps in saving and controlling debt. 30
It helps in attaining goals and objectives of the
business.
20
It helps in maintaining profitability 10
It helps in financial planning. 15
Interpretation: From the above survey conducted from 75 different accountants of UK
based organisations in accounting and technology and it was identified that maximum
respondents thinks that technology helps in saving and controlling debt of the business as
supported by respondents. They said that because of proper financial statements by using
technology, organisation can control over their debts and liabilities which results in reducing the
cost of production. In addition to this, there were 20 respondents who think that technology in
It helps in saving and
controlling debt.
It helps in attaining goals and
objectives of the business.
It helps in maintaining
profitability
It helps in financial planning.

9
accounting helps in attaining the goals and objectives of the business. As per their opinion, if the
system were not proper than it will definitely leads affect the organisation profitability. On the
other hand, there were 10 accountants who thinks that the profit margin of the organisation
maintained till staring of financial year to its ending. In addition to this, 15 were supporting to
last option as they said technology in accounting has helps in financial planning as organisation
can maintain the records of many years and take them for valuation.
Theme 7: Maximum number of respondents are aware that technology becomes obsolete
quickly.
PARTICULARS ACCOUNTANTS
Yes 40
No 22
Not Sure 13
Interpretation: From the above survey conducted from 75 different accountants of UK
based organisations in accounting and technology and it was identified that maximum number of
respondents are aware that technology becomes obsolete quickly as supported by 40 out of 75.
They said that up gradation in technology has becomes very fast now a day. Competition is also
Yes No Not Sure
0
5
10
15
20
25
30
35
40
ACCOUNTANTS

10
increasing because of rapid changing technology in the envelopment. Apart from this, there were
22 respondents who said that technology does not become obsolete quickly, as they can use
software by updating them on regular basis as companies used to remind for updates,
organisation does not have to change the technology on regular basis. Rest of 13 were not sure
about there answer as they were confused.
Theme 8: Security issues is the major factors associated with accounting & technology system
in the business world.
PARTICULARS ACCOUNTANTS
Security issues 35
Automation limitation 17
Changing technology 13
All of the above 10
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that,
Security issues is the major factor that associated with the accounting and technology system in
the business world. It might be happen that any employees can do misconduct and steal the data
that cause serious impact on the business very dangerously. Further, there were, 17 accountants
Security issues
Automation limitation
Changing technology
All of the above
0
5
10
15
20
25
30
35
ACCOUNTANTS

11
said that technology allows for automation by accounting by transferring the data to multiple
reports and system. But if any information is inserted wrongly in invoice than it creates big
issues. Another 13 accounts were supporting to changing technology option as they said that
drastic change in technology creates threat for the company as it sometimes raises the cost of
operation of the organisation. Rest of 10 were agreed on all the above option, as per there
perceptive, all the above options are associated with the accounting and technology.
Theme 9: Artificial intelligence is the future prospects of technology.
PARTICULARS ACCOUNTANTS
Cloud computing 15
Artificial intelligence 39
Robotics 11
Machine learning 10
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 39
Cloud computing
Artificial intelligence
Robotics
Machine learning
0
5
10
15
20
25
30
35
40
ACCOUNTANTS

12
accountants said that incorporation of artificial intelligence helps in effectively reducing the
repetitive task which eventually helps accountants to focus on more productive task. Other 15
respondents said that cloud computing is the future prospect of technology which helps in
delivering financial report from any location and helps to effectively engage with clients.
Remaining 11 respondents said that robotics are the prospective future of technology which leads
to reduce in human error. Remaining 10 respondents said that machine learning leads to higher
operational efficiency and standards.
Theme 10: Real time accounting information is the main advantages of Cloud computing in
accounting.
PARTICULARS ACCOUNTANTS
Easy access to the system 12
Increase the efficiency, reliability and validity
of data.
13
Reduction in overhead and operating cost 17
Real time accounting information 33
Easy access to the system
Increase the efficiency,
reliability and validity of data.
Reduction in overhead and
operating cost
Real time accounting
information

13
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 33
respondents said that real time accounting information is the main advantages of Cloud
computing in accounting which helps in delivering information on time and get access to
financial information from anytime across the world. Other 17 participants sought to agree on the
fact that, Cloud computing helps in reducing operational and overhead cost which leads to higher
profitability for the business. Remaining 25 participants (12+13) respondents said that Cloud
computing helps in increasing authenticity and reliability of data with quick and easy access of
the system.
Theme 11:Higher accuracy of data is the main benefit of Artificial intelligence in accounting.
PARTICULARS ACCOUNTANTS
Higher accuracy of data 33
Improved cost and management 13
Improves human efforts 17
Automate and streamline task 12

14
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 33
participants said that artificial intelligence in accounting leads to higher accuracy of data and
gives true and reliable information without hampering any law and standards. Other 13
participants said that, improved cost and management helps in smooth functioning of the
business. Other 17 participants said that, artificial intelligence improves human efforts so that
they can focus on more productive task. Remaining 12 participants said that AI helps in
automating and streamline the task so that work is carried out ijn a synchronized manner without
any chaos and hampering.
Theme 12: Reduction in human errors is the main advantages of Robotics in accounting.
PARTICULARS ACCOUNTANTS
Improved quality assurance by eliminating
unnecessary human efforts
40
Lower operational risk 25
Improved accounting and internal process 10
Higher accuracy of data
Improved cost and
management
Improves human efforts
Automate and streamline task

15
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 40
accountants said that robotics technology is beneficial to improvise quality assurance by
eliminating unnecessary human efforts and focus on more productive task and activities. It also
focus on eliminating human errors which helps in increasing operational efficiency. Other 35
participants (25+10) said that, robotics technology is beneficial in lowering operational risk and
improving accounting and internal process which leads to higher performance with reduced risk
and error by optimally increasing standards and accuracy of the task.
Theme 13: Machine learning in accounting is time saving activity.
PARTICULARS ACCOUNTANTS
Time saving 34
Cost efficient 26
Higher accuracy and productivity 15
0
10
20
30
40
ACCOUNTANTS

16
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 34
accountants said that machine learning is an effective technology in accounting which helps in
saving time by effectively reducing error and completing task in a coordinated and synchronized
manner. Other 26 participant sought to agree that, machine learning is a cost efficient task which
helps in completing task in a productive and efficient manner. Remaining 15 participants agreed
and said that machine learning helps in increasing productivity and accuracy of data.
Theme 14 : Strongly agreed, accuracy is improved using innovation tax software .
PARTICULARS ACCOUNTANTS
Agree 20
Strongly agree 35
Disagree 10
Strongly disagree 4
Time saving
Cost efficient
Higher accuracy and
productivity

17
Neutral 6
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 55
participants strongly agree that accuracy is improved using innovation tax software is an
effective process which helps in effectively saving time, high precision and reducing errors for
higher accuracy and efficiency of data. Innovation tax software helps in reducing margin errors
and avoid tax penalties. They also said that, it also helps in effectively conduct audit and prevent
issues regarding stakeholders. Other 14 respondents did not agree and said that innovation tax
software is not an effective process as it is highly expensive and complex. Remaining 6
participants were neutral as they didn't have enough knowledge regarding innovation tax
software.
Theme 15: Yes, technology advancement in accounting improves recruitment and hiring
process in the company.
PARTICULARS ACCOUNTANTS
Yes 55
Not aware 20
Agree Strongly agree DisagreeStrongly disagree Neutral
0
5
10
15
20
25
30
35
ACCOUNTANTS

18
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 55
accountants said that technology advancement in accounting improves recruitment and hiring
process in the company which helps in short-listing and hiring skilled and productive candidates
according to specific job role. This leads to higher performance and leads to less time consuming
process. Remaining 20 participants were not aware about the increased technology and focus
more on traditional technology without adapting to change. They tend to focus ion tedious task
which is a very long process.
Theme 16 : Do you think, technology adds value in accounting process.
PARTICULARS ACCOUNTANTS
It gives more accurate and reliable data 22
It eliminates time consuming process. 38
It makes work easier. 10
Effective security and support 3
It gives more accurate and reliable data 2
Yes Not aware
0
10
20
30
40
50
60
ACCOUNTANTS

19
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 60 (22+
38) respondents agreed with the fact that, technology adds immense value to the accounting
process by automating and streamlining task according to the set standards and principles.
Accounting process becomes much easier and gives bore true, fair and reliable data. Other 13
(10+ 3) respondents did not agree and expressed that implementation of new technology in
accounting process leads to increase in cost and higher complexity to operate and implement
technology in integration with accounting in business world. Remaining 2 participants were
neutral and were not sure about their answer regarding this particular theme.
Theme: 17: Infrastructure and human resources are main components of accounting &
technology system.
PARTICULARS ACCOUNTANTS
Information technology 5
Software 10
It gives more accurate and
reliable data
It eliminates time consuming
process.
It makes work easier.
Effective security and support
It gives more accurate and
reliable data

20
Human resource 33
Infrastructure 27
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 60
respondents said and agreed that infrastructure and human resources are the key components of
accounting & technology system which leads to reduction in human errors and efforts and also
leads to higher operational efficiency and productivity of work with improved infrastructure and
systematic organizational structure. Remaining 15 participants said that, software and
information technology are the key components of accounting & technology system for
improved and advanced integrated technology in the most cost efficient manner for higher
quality work.
Theme 18: Yes, information technology impact modern accounting.
PARTICULARS ACCOUNTANTS
Agree 20
Information technology
Software
Human resource
Infrastructure
0 5 10 15 20 25 30 35
ACCOUNTANTS

21
Strongly agree 35
Disagree 10
Strongly disagree 5
Neutral 5
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 55 (20+
35) respondents said and agreed on the fact that information technology impact modern
accounting and leads to higher operational efficiency and productivity. Other 15 respondents did
not agree that information technology does not impact modern accounting and remaining 5
participants were neutral as they were not confident and sure about their viewpoints regarding
this theme.
Theme 19: Yes, mobile accounting adds value and increase productivity of the accounting
process.
Agree Strongly agree Disagree Strongly disagree Neutral
0
5
10
15
20
25
30
35
40
ACCOUNTANTS

22
PARTICULARS ACCOUNTANTS
Satisfied 22
Extremely satisfied 38
Disagree 7
Highly dissatisfied 3
Neutral 5
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 60
respondents are highly satisfied on the fact that mobile accounting adds value and increase
productivity of the accounting process and gives flexibility to get update regarding any financial
information on just a click. It is a very easy and flexible process. Other 10 respondents, do not
agree and said that mobile accounting adds value and increase productivity of the accounting
process as it is not safe and does not have enough security and hackers can easily track data
Satisfied
Extremely satisfied
Disagree
Highly dissatisfied
Neutral

23
using this application. Remaining 5 candidates are neutral and were not sure about their answer
regarding this theme.
Theme 20: Yes, social media is an effective tool to add benefit in the accounting process.
PARTICULARS ACCOUNTANTS
Agree 20
Strongly agree 35
Disagree 11
Strongly disagree 4
Neutral 5
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 55
Agree Strongly agree DisagreeStrongly disagree Neutral
0
5
10
15
20
25
30
35
ACCOUNTANTS

24
respondents highly agree on the fact that social media is an effective tool to add benefit in the
accounting process. It helps in promoting their brands and services which leads to higher market
share, competitive advantage and customer base. The accountants further said that, it adds value
fir the sustainable growth and development of the business. Other 15 participants strongly
disagreed and said that social media is not an effective tool to add benefit in the accounting
process as it is costly and time consuming process. Remaining 5 candidates are neutral and were
not sure about their answer regarding this theme.
Theme 21: Gap in training is the challenges faced by the business to implement technology in
accounting.
PARTICULARS ACCOUNTANTS
Gap in training 30
Lack of education 11
Lack of integration 12
External and internal environmental factors 12
Higher competence 10

25
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 30
respondents sought to agree on fact that gap in training is the major challenge faced by the
business to implement technology in accounting. Implementation of new technology is a costly
process. Other 11 respondents said that, lack of education is also a major challenge for the
company. Other 24 participants (12+ 12) said lack of integration and external and internal
environmental factors are a major challenge while implementing technology in accounting
which leads to lower operational efficiency, performance and productivity. Remaining 10
accountants examined and said increase in rivalry competence is also a major challenge while
implementing technology in accounting.
Theme 22:Improved training and development programme is the main suggestion to improve
accounting process in business world.
PARTICULARS ACCOUNTANTS
Improved training and development
programme.
36
Integrated advanced technology and software 14
Gap in training
Lack of education
Lack of integration
External and internal
environmental factors
Higher competence

26
High professional accountants and employees 15
Promote education and skills 10
Interpretation: From the above survey conducted from 75 different accountants of UK
based companies in accounting and technology in business world and it is identified that, 36
respondents sought to agree on fact that improved training and development programme is an
effective recommendation to improve accounting process in business world. It helps in building
skills and knowledge to use a particular technology for higher performance and productivity of
business. Other 14 respondents said that integrated advanced technology and software helps in
smooth functioning of the business by effectively streamlining all activities. Other 15
participants said that high professional accountants and employees helps in effectively
maintaining all financial statements and report and who has effective skills and knowledge to
operate advanced technology like machine learning, mobile accounting, information technology,
cloud computing to increase the performance, accuracy and productivity of the business.
Remaining 10 respondents said that improved education and skills helps in maintaining higher
professional standards and quality for effective results and outcomes and also perform all the
functions with accuracy and give authenticity.
Improved training and
development programme.
Integrated advanced
technology and software
High professional accountants
and employees
Promote education and skills

27
CONCLUSION AND RECOMMENDATION
Conclusion
This present dissertation comes to the conclusion that role played by technology is to
amend the performance along with the whole effectiveness of the systems and services that
allows the businesses to spread out efficiently. The impact technology on accounting is very high
as it aids in raising the capability of the companies to use digital systems to maintain track and
record financial transactions. Growth and development in the field of accounting as well as
technology have been immense and have resulted in the digital alteration in social, cultural and
economic fields. Because of the high competition and advancement, it is not possible to achieve
competitive advantages in the market. Accounting process has developed to the greatest extent
by using technologies such as computers financial software's, applications, digital calculators and
many others. Technology has had an enduring impact on the manner in which practices of
accounting along with the transactions, are carried out worldwide. Further report also covered
the advantages of technology that can be traced in developing as well as amending the
accounting performance in the Business world and research is separated into circumstance,
importance and attack towards the research. In addition to this, the literature reviews section has
concluded some important information that if organisation avoid or ignore using the technologies
during accounting process than it result in waste of resources and high probability of errors and
mistakes.
The fact identified by conducting this study is that by using the advance software of tax
the level of accuracy has improved to the greatest level. Further, it is also true that organisation
could not able to maintain the level of accuracy by ignoring the advance technology. Technology
has made very easier in carrying out the transaction. This research has effectively presented the
sterling affects of technology has made on accounting by heighten the capableness of the
companies to use digital systems to maintain track and record financial transactions. By
conducting the primary research, it was clearly identified that a ample part of responders knows
about present day accounting innovation and they utilized that innovation in their everyday
accounting exercises as well as they were extremely satisfied with the innovation done in
accounting process. It is because earlier it as very difficult for them to maintain the accuracy as
an when trial balance or any other financial statement do not match, the process of cross

28
checking was very difficult and it is very much time consuming. With the technological
advancement and innovation in accounting process, errors and mistake are sort out within in
seconds. Eventually, scholars reason out that an automatic accounting system could be helpful
in formulating bookkeeping as a procedure more cost-efficient as well as gain the whole pace
with which the accounting processes in the organization are carried out. Researcher has also
founded some challenges in the absolute execution of such systems is the scarcity of education
about such systems and the gap in training them with the usage of information systems, in the
company. Thus, research has clearly makes understood that it is not possible to reach the desire
aims and objectives without having technology either it is accounting or any other department.
Technology is playing crucial role in the development and growth of the company.
Recommendation
The above dissertation is very advantageous and fruitful for the organisations in
improving the current accounting system as well as implementing the advance accounting
process are as follows-
Researcher has suggested from the above analysis that organisation should focus on
training and development programmes to there employees so that they can employees could have
knowledge and skills about the advance technologies and software used in the process of
accounting. Furthermore, training also improves the performance of the employees as well as
motivate the workers to the greatest extent. On the other hand, development programs bring all
the employees to a higher level so that all have same skills and knowledge. Improved training
and development programmes helps accountants and employees gain knowledge and increase
professional skills to use advanced technology and also leads to higher operational efficiency
performance and productivity for the business. This makes it easier for employees to focus on
more productive task which eventually helps in attaining goals and objectives of the company.
Training and development programmes make it easier for employees to adapt new technology
and carry out task with higher efficiency and productivity.
Further, researcher also suggested that organisation must posse the integrates software
and machines so that they could adopt and accept the high tech software's. It is because
integrated software reduces the cost, increases the efficiency and streamline the processes.
Integrated software helps business to reach economies of scale and also helps in smooth

29
functioning and working of the business. Implementation of high technology and integrated
software helps in standardizing the procedure and structured functioning of the business. It helps
in reducing wastage and complexity. It also helps in accelerating growth and improve viability
and authenticity of data. Integrated software and technology helps in efficient processing and
performance in the organization ion the real time basis.
In addition to this, researcher has also recommended that organisation should hire
accountant professionals so that they could have enough information about the usage, benefits
and drawbacks of particular technology or software used. They also provide instructions and
monitor the activities. Hiring of professional staffs helps in effectively managing the work with
higher operational efficiency and performance. They effectively maintain all financial statements
and reports analysing whether company has achieved organizational goals and objectives. Hiring
of professional staff who have immense knowledge and skills to operate advanced technology
like machine learning, mobile accounting, information technology, cloud computing to increase
the performance, accuracy and productivity of the business.
In addition to this, researcher has also recommended that increase in education and skills
helps in managing and using advanced technology which helps in maintaining higher
professional standards and quality for effective results and outcomes. Increase in education and
skills leads to high productive employees who can smoothly perform all the functions with
accuracy and give authentic accounting and financial information of the business.
Thus, by following these above recommendation, organisation can successfully
implement the technologies in the accounting process.

30
APPENDIX
QUESTIONNAIRE
Name:
Age:
Gender:
Number of Respondents: 75
1. What is your gender?
 Male
 Female
2. What is your age group?
 Below 15 years
 Between 15 years to 30 years
 Between 30 years and 45 years
 45 years and above
3. Are you aware of innovation in technology in accounting process?
 Yes
 No
 Not sure

31
4. Do you think technology is beneficial in accounting?
 Agree
 Strongly agree
 Disagree
 Strongly disagree
 Not sure
5. According to you what role does the technology play in accounting in the business world?
 Reduce wastage
 Track process and activities
 Reduce cost of doing business
6. What according to you does technology use in accounting to gain importance?
 It helps in saving and controlling debt.
 It helps in attaining goals and objectives of the business.
 It helps in maintaining profitability
 It helps in financial planning.
7. Do you think technology becomes obsolete quickly?
 Yes
 No
 Not sure

32
8. What according to you are the factors associated with accounting & technology system in the
business world?
 Security issues
 Automation limitation
 Changing technology
 All of the above
9. What according to are the future prospects of technology?
 Cloud computing
 Artificial intelligence
 Robotics
 Machine learning
10. What are the advantages of Cloud computing in accounting?
 Easy access to the system
 Increase the efficiency, reliability and validity of data.
 Reduction in overhead and operating cost
 Real time accounting information
11. What are the advantages of Artificial intelligence in accounting?
 Higher accuracy of data
 Improved cost and management

33
 Improves human efforts
 Automate and streamline task
12. What are the advantages of Robotics in accounting?
 Reduction in human errors
 Lower operational risk
 Improved accounting and internal process
 Improved quality assurance by eliminating unnecessary human efforts.
13. What are the advantages of Machine learning in accounting?
 Time saving
 Cost efficient
 Reduce in human error
 Higher accuracy and productivity
14. Do you agree that accuracy is improved using innovation tax software?
 Agree
 Strongly agree
 Disagree
 Strongly disagree
 Not sure
15. Are you aware that technology advancement in accounting improves recruitment and hiring

34
process in the company?
 Yes
 Not aware
16. Do you think technology adds value in accounting process?
 It gives more accurate and reliable data
 It eliminates time consuming process.
 It makes work easier.
 Effective security and support.
17. What according to you are the components of accounting & technology system.
 Information technology
 Software
 Human resource
 Infrastructure
18. Do you think information technology impact modern accounting?
 Agree
 Strongly agree
 Disagree
 Strongly disagree
 Not sure