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Applied Business Research Assignment

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Added on  2021-06-17

Applied Business Research Assignment

   Added on 2021-06-17

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Applied Business Research 1APPLIED BUSINESS RESEARCHBy (Student’s Name)Professor’s Name College Course DATE
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Applied Business Research 2IMPACT OF TECHNOLOGY ON ACCOUNTINGIntroduction The development of a proposal and a complete research project requires a literaturereview. It is developed so that there is the basis of argument. The literature can guide in provingthe research question or theory. It also helps understand the various approaches that have beenused. What impact does technology have on accounting in terms of profits? Technological advancement has improved accounting profitability and management.We, therefore, develop literature that seeks to answer our theory by shaping the focus intothe question (Belfo and Trigo 2013). From the literature review, we can further draw findingsand recommendations (Dandago and Rufai 2014). As for the question developed, ourrecommendations would encourage businesses to endorse technology as it improvesmanagement. Theory: Literature ReviewPepe, A. A., 6th January 2016. The impact of technology on the public accounting profession. MgiWorldwide, 1(Technology in Accounting), pp. 1-4. http://www.mgiworld.com/newsroom/2016/january/the-impact-of-technology-on-the-public-accounting-professionAgnes Ann Pepe, a professional accountant acknowledges that the impact that technologyhas on accounting is huge. Ranging from the use of a computer to the use of smart items.
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Applied Business Research 3Technology has therefore changed the aspect of accounting in terms of accurate analysis, theperformance of series of events and complete reports (Demski 2014). The journal furtheremphasizes that towards the end of the 20th-century accounting changed (Geerts et al 2014).With the introduction of computers programs and software’s that changed accounting. With theintroduction of excel software, it became easier to perform electronic worksheets. Theaccountant can make an analysis of huge figures, there could be also a great prediction of thefuture financial forecast with accuracy and credibility (Pepe 2016). The article further deals with the human resource of an accountant. The life of anaccountant is made even better by the use of technology. By the use of PC, an accountant hasmore time to concentrate on other issues other than the profession (Hollander, Denna andCherrington 2015). This is because the workload has been reduced. The journal emphasizes thatthe traditional paperwork that was done by the accountant has been reduced into fewermanageable chunks. In a case study from the journal. An accountant confesses to the widespreaduse of a PC. Her work becomes even easier, he had to deal with reduced paperwork than before.She further confesses to having reduced her work time (Pepe 2016). Previously she would takeup to 20 hours working on accounting profits per week. This has been reduced to a week, givingher more time to concentrate on other issues. She says that with the coming of technology shehas been able to create time to further her studies.Kalenskaya, N., Gafurov, I. and Novenkova, A., Procedia Economics and Finance.The journal article exploits the way technology has impacted in managing accountinginformation. With the coming of the information sharing entities such as the email and theinternet (Kalenskaya, Gafurov and Novenkova n.d). There has been an easy transfer ofinformation globally (Hunton 2015). An accountant can easily share information with other
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Applied Business Research 4company stakeholders that include managers, directors, and CEO. For client organization, thearticle informs that. It easier to share financial information to clients through their emails. Thismanagement of information also made it easy to share professional documents and experienceswith other accountants globally. The global web has made it easier to look at various challengingdecisions and find ways of working them out through the internet (Kerr 2014). The internet,therefore, creates an avenue for meeting fellow professional accountants.The article also further exploits the use of technology in retrieving important and keyinformation. Information on accounting is saved on the internet and other external savingmaterials. These materials help to retrieve the information even faster when the need arises to usethem. The internet reduces the information data to manageable units. The units can, therefore, beused when needed (Kalenskaya, Gafurov and Novenkova n.d). This is contrary to the fillingstorage that was done in the previous. Retrieving information from a list of files can be difficultbeing that the pieces of paper are not reduced to manageable units. The risk that is surrounded byusing the file can be so many in terms of risk analysis Lim, F.P.C., 2013. Impact of information technology on accounting systems.Asia-PasificJornal of Multimedia Services Convergent with Art, Humanities and Socialgy,3(2), pp.93-106.http://jse.or.kr/AJMAHS/papers/v3n2/6.pdfJournal of Asia Pacific Journal of multimedia service Vol 3 by Francis pol takes a quiteshocking view on the effects of technology on accounting. The Journal compares the effect it hashad on the rates of employment (Lim 2013). The use of bookkeeping has reduced in thecompanies and organizations. Companies prefer employing accountants that have managerialskills (Lim 2013). The companies feel that with the increase in technology the accountant areless engaged in their duties for the company. Employing one with managerial skills ensures that
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