Challenges of Accounting in Global Organizations

HI6008
Business Research
Assignment 2
Challenges of Accounting in Global Organizations
Name: RoshanBajracharya
Student ID: TIA 8158

Table of Contents
1. Introduction............................................................................................................................3
2. Project Objective....................................................................................................................3
3. Project Scope..........................................................................................................................3
4. Literature Review...................................................................................................................3
5. Research Questions/Hypothesis.............................................................................................6
RESEARCH QUESTIONS....................................................................................................6
Research Hypothesis..............................................................................................................6
6. Research Design and Methodology.......................................................................................6
Qualitative research................................................................................................................7
7. Research Limitations..............................................................................................................8
8. Time Schedule (Research plan).............................................................................................8
9. Conclusion..............................................................................................................................8
10. Reference List......................................................................................................................9
Appendix: gantt chart...............................................................................................................10

1. INTRODUCTION
Accounting is one of the most influencing aspects related to the development of an
origination and in order to facilitate this, availability of effective accounting system is largely
important (Weygandt, Kimmel, KIESO & Elias, 2010; Anandarajan, Anandarajan &
Srinivasan, 2012; Schaltegger & Burritt, 2010). It helps an organization to classify different
aspects that are related to making its accounts perspective efficient in overall management
and operational context. These accounting systems are perfectly designed for organizational
functions and thus provide a safe and effective approach to its assessment (Hall, 2012; Hall,
2010; Maskell, Baggaley & Grasso, 2016). Areas like decision making, competitive analysis
and progressive developments related to an organization is largely associated with a
consecutive enhancement in accounting system and its relative operations. An efficient
accounting system also boosts the economic possibilities related to an organization by
mitigating key challenges and developing relevant approaches for further development. This
proposal is largely related to the development of a major concept that reflects the importance
of accounting system in the present day organizational management. It reflects the role as
well as limitations that are related to the application of accounting system in the
organizational structure.
2. PROJECT OBJECTIVE
Some of the major objectives related to this project are:
 To research and analyse the concepts and use of accounting in the business by the
global organizations,
 To research the key challenges faced by the global organizations by the use of
accounting systems
3. PROJECT SCOPE
This project will be dealing with some of the major possibilities that are related to application
of accounting systems in an organizational context. It will be assessing the implementation of
accounting systems in business scenarios of an organization and identification of relative
issues that are related to its development. It will also provide major perspectives that are
related to the future of organizations in terms of applicable accounting systems.

4. LITERATURE REVIEW
Accounting is one of the most important aspect constituent of the present day organizational
structure. The American Accounting Association describes accounting as a major fragment
that is related to the development of decision making process under an organisation by
identifying, measuring and communicating financial data related to an organisation(Daske,
2008). All of the major organizations depend on some or other accounting systems in order to
facilitate the overall development of its business actions. The accounting systems that are
related to provide a stable and internationally accepted standard are agreed by various bodies.
After this, a change in policies and legislation are also made that contribute to proper
application of the recommended changes. These involve legal as well as financial bodies
which play a major role and are impacted by the development of these modifications. In spite
of the various advantages aspects, there are several challenges like affectivity, technicality,
and safety, lack of speed and requirement of enhanced skills related to the development of
accounting system in an organisation. The literature reflects inclusion of internationally
accepted accounting systems that play a major role in developing sustainable perspective in
accordance with the widely accepted aspects. In addition to this, a review will also be
provided that can relate with the various issue which are faced in order to implement these
accounting systems.
Systematic recording of financial statements and helping the organisations to analyse their
respective market positions are some of the major roles of the accounting systems (Horngren
et al., 2012; Chen, Tang, Jiang & Lin, 2010). Accounting has played a major role in context
of Australian business structure as it has helped organisations to achieve financial stability
and development for a major part of times (Jeanjean, 2008). Human resource management,
customer relationship management and business operations are some of the most influential
aspects that are related to application of accounting system (Tollington & El-Tawy, 2010).
The implementation aspects related to a communication system are largely related to factors
such as availability of suppliers and security concerns related to the new systems. In addition
to this, the accounting systems also require a significantly enhanced workforce in order to
operate it effectively(Horton, 2013). In addition to this, some of the accounting systems
require ability to share information with a third party that makes its usage much more
complex and less secure. These aspects reflect some of the major challenges that are related