Technology Implementation in Accounting and Finance - Assignment

Business Research

Table of Contents
Research Topic.................................................................................................................................3
Background .....................................................................................................................................3
Significance.....................................................................................................................................3
Rationale .........................................................................................................................................3
Aims ................................................................................................................................................3
Objectives .......................................................................................................................................4
Research Questions..........................................................................................................................4
Keywords as used in literature review.............................................................................................4
Publication details............................................................................................................................5
Ethical Consideration.......................................................................................................................5
REFERENCES.....................................................................................................................................6

Research Topic
Topic: Technology implementation in accounting and finance. A study on Pitcher Partners
Background
Accounting and financial services rendered by company is required to be authentic and appropriate
from the perspective of decision making process. With the help of technological advancements and
development, it has enable many business firms in storing, maintaining and recording of their
financial information in respect of both the accounting as well as financial transaction taken place in
the accounting period (Mio, 2016). The present report is on Pitcher Partners which is engaged in
business of providing specialised services to family controlled, small public business and public
sector organisation as well. It is having 45 partners with more than 600 number of professional as
well as support staff.
Significance
With the help of this research study, many scholars, researchers will be able to get deep insight
about the relevant topic and subject matter. Also, by considering this project, researcher will be able
to save cost expenses and time resources which will be incurred on conducting of fresh research
project. It will further provide better understanding to all other end users in their decision making
process.
Rationale
The reason for choosing this topic is to evaluate all the issues and challenges which comes in
implementation of technology related to accounting and financial business processes. Also, it will
help researcher in identifying all the manner in which technological faults can be converted into
benefits by the company for providing correct, authentic as well as accurate information about
financial transaction of the accounting year (Trigo, Belfo and Estébanez, 2016). For providing
reliable and accurate data and information about both the accounting and financial transaction,
company has to prepare financial report for a specific accounting period. This helps stakeholders as
well as other end users of the company in getting full information about company's present financial
positions, its accounting transaction taken place in a year.
Research Questions and Objectives
Aims
To assess impact of implementation of technology in accounting and finance department in relation
with Pitcher Partners.

Objectives
 To identify impact of implementing technology in functioning of accounting and finance
services.
 To develop better understanding about benefits as associated with using of technology in
respect of accounting and finance services.
 To evaluate importance of technology in accounting and finance part of business firms.
 To recommend factors which can brings improvement in technological benefits to Pitcher
Partners.
Research Questions
Question 1. What are the technological factors which can provides negative impact on working of
accounting and financial services of Pitcher Partners ?
Question 2. How understanding of technological advancement in context of accounting and finance
services can help Pitcher in gaining competitive advantages ?
Question 3. What is importance of technology implementation in department of account and
finance ?
Question 4. What are the relevant factors which can makes improvement in technological aspects ?
Keywords as used in literature review
It includes -
 Technology – It is defined as collection of different techniques, methods, concepts, skills,
processes etc. which can be used by every business organisation in their production as well
as manufacturing functions of goods and services so as to capture large market share and
customer base (Micu and Micu, 2016). By using better improved technologies and
techniques in business processes, Pitcher can gain competitive advantage in the marketplace.
 Accounting – A systematic process including identifying, recording, classifying, measuring
and summarizing of all the financial as well as accounting information so that it can be
interpreted in better manner. Data interpreted is communicated to its end user for assisting
their decision making process.
 Finance – A process which is related to procurement and allocation of funds and other
monetary items to business activities as per their requirements. Financial plan made can help
Pitcher in better allocation process thereby assisting in making estimates about future
business expenses and revenue.

Publication details
As per the view point of Sajady, Dastgir and Nejad, (2012) using different technological
advancement and software as used in respect of accounting and finance departmental functions can
help Pitcher in making record of accounting and financial transaction much easier and simple. Also,
it has assisted company in reducing errors such as incorrect transaction recording, omission etc. On
the other hand Kloviene and Gimzauskiene, (2014) argued by stating that huge amount of cost has
to be incurred for implementing best accounting techniques and software. Also, for making use of
software related to financial services company is required to recruit skilled, experienced and
knowledgeable employees having deep and perfect information about using such technologies and
software.
According to thoughts of He, Wong and Young, (2012), by implementing better improved
technologies and software related to accounting and financial transaction in business processes, it
helps company in increasing its management and accounting efficiency. Also, it results in
delivering of more accurate, correct as well as reliable information about Pitcher financial and
accounting data which can helps its end users in making effective decision related to investment
and other business matters. On the contradictory part Trigo, Belfo and Estébanez, (2016), disagreed
by defining that though implementation of technology can help company in getting more accurate
and reliable data, but it comes up with huge cost expenditure for company as well. Expenses in
form of installation, up-gradation and training related has to be incurred by company for making its
effective uses, which is much higher than paper based accounting and financing work.
Ethical Consideration
From the perspective of ethical norms and standards, all the applicable laws, concepts and
regulation has been complied with for making of quality research project. Data relevant to the topic
as well as subject matter has been used from different sources and websites. Proper rephrasing has
been done of all the data and information collected before using it in research file. No copy and
paste has been done of data collected as it is (Swann, 2018). For better understanding and
interpretation references has been assigned so as to ascertain sources from where data and
information has been gathered. Also, all the respondents participating in the questionnaire round has
taken willing participation by filling the consent form.

REFERENCES
Books and Journals
He, X., Wong, T. J. and Young, D., 2012. Challenges for implementation of fair value accounting in
emerging markets: Evidence from China. Contemporary Accounting Research. 29(2). pp.538-
562.
Kloviene, L. and Gimzauskiene, E., 2014. Development of accounting system according to an
information technology. Review of economic studies and research Virgil Madgearu. 7(2). p.59.
Loughran, T. and McDonald, B., 2016. Textual analysis in accounting and finance: A
survey. Journal of Accounting Research. 54(4). pp.1187-1230.
Madon, S. and Krishna, S., 2018. The Digital Challenge: Information Technology in the
Development Context: Information Technology in the Development Context. Routledge.
Micu, I. and Micu, A., 2016. Financial technology (Fintech) and its implementation on the
Romanian non-banking capital market. Practical Application of Science, IV (2 (11)). pp.379-
384.
Mio, C. ed., 2016. Integrated reporting: A new accounting disclosure. Springer.
Sajady, H., Dastgir, M. and Nejad, H. H., 2012. Evaluation of the effectiveness of accounting
information systems. International Journal of Information Science and Management (IJISM).
6(2). pp.49-59.
Scott, B., 2016. How can cryptocurrency and blockchain technology Play a role in building social
and solidarity finance? (No. 2016-1). UNRISD Working Paper.
Suryanto, T., 2016. Dividend policy, information technology, accounting reporting to investor
reaction and fraud prevention. Journal of Economic & Management Perspectives. 10(1). p.138.
Swann, P. ed., 2018. New technologies and the firm: Innovation and competition (Vol. 48).
Routledge.
Trigo, A., Belfo, F. and Estébanez, R. P., 2016. Accounting Information Systems: evolving towards
a business process oriented accounting. Procedia Computer Science. 100. pp.987-994.
Online
Accounting technology benefits and drawbacks. 2017. [Online]. Available through:
<https://bizfluent.com/info-10069475-advantages-disadvantages-accounting-technology.html>.