MA619 Accounting Research Assignment
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Accounting Research (MA619)
Added on 2020-04-21
MA619 Accounting Research Assignment
Accounting Research (MA619)
Added on 2020-04-21
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Running head: ACCOUNTING RESEARCHAccounting ResearchStudent’s Name:University Name:Author Note
1Accounting ResearchResearch MethodologySmall and medium-sized enterprises contribute to the rate of employment in OECDcountries by 60 to 70 percent . The small and medium sized enterprises worldwide continue themove towards Cloud Computing thus Cloud computing has opened another dimension in thefield of accounting software. The major advantage that the cloud computing can provide is thatthe same strata of information is available to all the employees at the same time along with freeaccessibility and applicability of the major applications by utilizing the platform provided by thecloud. The research that has to be conducted specifically targets the newly developed or start-upbusiness houses and small scale firms consisting of the Board of directors that constitute of youthin majority. This is a significant fact in case of the research because it reveals that the younggeneration of the world economy depends on technology more than just manual labor.Technology has literally become the means by which a modern man perceives his environmentalsurroundings. Thus the need for accounting software solution arises. In the past ages accountingsoftware that had been developed mainly focused upon components like Accounts Receivable,Accounts Payable, Payroll and General Ledger. But with time the concept of accountingsoftware for small scale firms have changed. In the modern day accounting software dependupon Customer Relationship Management, Human Resource Management, Dashboards, SupplyChain Management and other applications. The major focus of the modern accounting softwaremakers is to simplify the data or information provided by the organization, customization of therequired data or information in accordance to the specific requirement of the firm, integration ofthe entire accounting operation with the facility of cloud computation. The problem with thesmall and medium-sized enterprises is that they often look for accounting software that has a
2Accounting Researchlarge number of features but come with an affordable price ("Cite a Website - Cite This For Me",2017). Certain examples of the accounting software that is utilized in Australia and has becomepopular in Australia are MYOB Live Accounts which specifically provides s cloud enabledsoftware that manages the functionality of a cashbook to be precise; MoneyWorks Express isanother software that is required by small and medium-sized enterprises for solving theiraccounting needs; QuickBooks Online plus Web Payroll is utilized by small business houses likecoffee shops in Australia. It should be noted that the features provided by most of the accountingsoftware in Australia provide more or less the similar features because of a highly competitivemarket ("Cite a Website - Cite This For Me", 2017).However in India the evolution of the accounting system has not been such widespread.However the current condition of the Indian market is different. This means that enterprises inIndia have been using simple accounting software such as Tally, QuickBooks, Marg AccountingSoftware, Busy Accounting Software and Profitbooks ("5 best accounting software for smallbusinesses in India - Your Finance Book", 2017) .This research aims to measure the effectiveness of the accounting software that isimplemented in Australia. In order to find out the effective implementation of accountingsoftware in small and medium-sized enterprises a qualitative research method has been adopted.The effect and result of the adoption and implementation of the accounting software in the smalland medium business enterprises in different nations especially India and Australia has beenanalyzed for the purpose of research of this particular study. The resources used for gatheringinformation or secondary data have been derived from journals that provide a description of the
3Accounting Researchcurrent condition prevailing after the implementation of the respective accounting software. Theprimary aim of this research is to chalk out the winning points and failures regarding theimplementation of the business accounting software in the small or medium sized enterprises inAustralia and for a better understanding of the issue a comparison with the implementation ofsmall business accounting software in India has been executed (Tijani & Mohammed, 2013).The accounting software revolution that took place in India started in the later part of theeighteenth century. Due to the reason that the accounting rules and regulations are governed bycertain laid down or established principles the accounting software packages in India gave rise toa highly competitive market because of the fact that they were able to provide the same range offeatures and facilities. The implementation of the Enterprise Resource Planning software hasspecifically revolutionized the accounting framework in India. The power of ERP has beenfurther influenced by the facility of cloud computing.Most of the small or medium sized businesses in India do not utilize any kind of ERPsoftware either due to the fact that they do not get the apt or suitable software solutions thatmatch with their requirements or they are not aware of the values and features provided by theERP software. The major demand now in the Indian small or medium sized enterprises is theimplementation of the ERP software technology. This is due to the availability of continuous andstrong internet connectivity in most of these firms. The small business accounting software thatalso have certain limitations like restriction on the number of accounting transactions or thenumber of users. Another limitation that is faced by the small or medium sized enterprises inIndia is that the sellers of the ERP software provide a vast range of facilities and features whichare never or rarely utilized by these small scale enterprises therefore they are indirectly payingfor the development costs that are unnecessary from their perspective. The large scale ERP
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