The Impact and Innovation of Information Technology on Modern Accounting System and Finance

Running head: APPLIED BUSINESS RESEARCH
The impact and innovation of information technology on modern accounting system and
finance, a case study on the Australian context

APPLIED BUSINESS RESEARCH 2
Abstract
The aim of this research is to analyse the impact of information technology in modern
accounting practice and finances in the context of Australia. This research illustrated that IT
plays significant role in management control and accounting but, in an earlier investigation, it
has not been investigates effectively.
This research study helps to overcome this issue. This research proposal contains several
elements such as introduction, literature review as well as research methodology. In the
introduction part, this research has covered the topic of investigation, aim, and objectives, and
structure of the proposal. In the second chapter, this research discussed that innovation and
information technology has significantly impact on the management accounting.
In the research design and methodology chapter, it is illustrated that a mixed research approach
would be used for collecting the theoretical and practical information regarding research issues.
This research proposal takes into consideration data collection techniques such as both primary
and secondary data collection methods. Along with this, both survey and interview technique
will be used for collecting the data. Statistical data analysis would be used to analyze the pooled
data in an effective manner. Moreover, this research discussed that ethical consideration helps to
conduct the research in an ethical manner.

APPLIED BUSINESS RESEARCH 3
Table of Contents
Abstract..................................................................................................................... 2
Introduction to the research................................................................................................ 4
Introduce the topic of the research..................................................................................... 4
What real problem does the research seek to resolve and why is it important to research this topic
(project scope)............................................................................................................. 4
Outline the structure of this proposal.................................................................................. 5
Introduction............................................................................................................. 5
Literature review....................................................................................................... 5
Research methodology................................................................................................ 5
Research problem and research objectives...........................................................................6
Theoretical Background/Literature review..............................................................................6
Research Design and Methodology..................................................................................... 10
Type of research (exploratory, descriptive or causal)............................................................11
Research approach (quantitative, qualitative or mixed approach).............................................11
Type of data will be used (primary or secondary data)..........................................................12
Data collection........................................................................................................... 12
Sampling.................................................................................................................. 13
Data analysis............................................................................................................. 14
Ethical consideration................................................................................................... 14
References................................................................................................................... 16
Appendix..................................................................................................................... 20

APPLIED BUSINESS RESEARCH 4
Introduction to the research
Introduce the topic of the research
Accounting and reporting demonstrate the act for recording exchanges, assessing breaking down,
budgetary information, demonstration of several associations, having criticalness, specifically in
global companies. The exchanging structure related to several nations, specifically inferable
through occasions such as progression in terms of transformations in practices of administration
crosswise over several countries, the monetary as well as bookkeeping enlighting essential
practices for assuring high effectiveness (Al-Hila, et. al., 2017).
Accounting with money associated exercises, over the international has addressed the impressive
transformation regarding joining of creative enhancements in these sectors, specifically in the
spaces of trade as well as, exchange. In addition, innovation trend is considering into rehearses of
bookkeeping in portable bookkeeping, kinds of distributed computing, duty programming
projects, comparative marvels as well as, OCR advancements (Amin, and Mohamed, 2016).
What real problem does the research seek to resolve and why is it important to research
this topic (project scope)
As per the literature review related to previous and empirical investigation, it is addressed that
there is sufficient understanding regarding the effect of most current IT development in the
accounting sector. Although, IT significantly plays a vital role in management control as well as,
accounting, this association has not been investigated sufficient (Bell, Bryman, and Harley,
2018). The aim of this investigation is to emphasize particularly on the impact of IT associated
organizational transformation in management accounting activities. The researcher would seek to
develop the management accounting profession related to challenges of IT, and contribution of
body of understanding regarding to what extent IT influences the competency to solve several

APPLIED BUSINESS RESEARCH 5
accounting activities. Therefore, the researcher would try to assess the effect of IT application on
accountant activities (Breheny, and McQuaid, 2018).
Outline the structure of this proposal.
The organizational structure of the proposal would be beneficial for the researcher to develop a
feasible decision and understands the components that would be incorporated into this
investigation. These components are introduction, literature review as well as, research
methodology (Burrough, et. al., 2015). It is described as follow:
Introduction
Through the introduction chapter, an investigator would be competent for understanding some
components such as the aim and objectives of investigations, research problem, project scope,
and dissertation structure. It can lead to completing of investigation within specified time and
cost (Cleary, and Quinn, 2016).
Literature review
In this chapter, an investigator would be competent for gaining the theoretical knowledge
regarding investigation aspects. It can be significant to achieve the specified aim in minimum
time. The literature review contains several secondary sources such as journal articles, online as
well as, offline sources. It can be beneficial for gathering the theoretical information regarding
investigation concerns. These sources can be also advantageous for obtaining a positive outcome
in the context of existing issues (Dai, and Vasarhelyi, 2017).
Research methodology
In this research methodology chapter, different techniques, approaches, and strategies would be
used that helps in the completion of research issues. These techniques are research strategies,
data collection technique, sample, and research type, sampling, and data analysis techniques.

APPLIED BUSINESS RESEARCH 6
This can be significant for the accomplishment of investigating activities by choosing the
feasible technique to conduct the investigation (Divisekera, and Nguyen, 2018).
Research problem and research objectives
The key problem is face by an accountant is to maintain the consolidation as well as,
incorporation of advanced bookkeeping and monetary plans within companies over the global
business system. It could be highly significant for addressing the ramification related to such
fuses and incorporation in elements of bookkeeping rehearses. It is also significant in diverse
innovative aspects for implementing the bookkeeping rehearses of several business associations.
It is specifically considered under business spaces that are prominent and highly innovative in
financially dynamic nations, and the Australia (Ghaffarianhoseini, et. al., 2017).
Research Aim and Objectives:
This investigation addressed effect of information technology in modern accounting practices as
well as, finance. The high impact that it made is to develop as well as, practicing computerized
system record along with, tracking the financial transaction. This investigation is attempted to
research the way through which, obstacle initiate would be eliminated. This research is
predicting the future implication of innovative application in rehearses of accounting in the
business condition of Australia.
Theoretical Background/Literature review
According to Otleyand Emmanuel (2013), IT (information technology) has significant role in
each perspective of our lives. It has performed same with finance as well as, accounting. But, in
current times, accounting is just entailed as a mere procedure for recording as well as, assessing
the financial transactions together with, summarizing them.