Digitalization Transforming in Accounting - PDF
Added on 2021-06-17
21 Pages5370 Words124 Views
Data Science and Big DataPhilosophy
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Ruining head: APPLIED BUSINESS RESEARCH APPLIED BUSINESS RESEARCH
2APPLIED BUSINESS RESEARCHAbstractThe main objective of this research is to address digitalization transforming in accounting sector and their impact on business. In this research, many important aspects are discussed like an introduction, literature review, research methodology, and ethical consideration. Furthermore, introduction chapter discusses many components like research problem, research background, and ethical consideration. Moreover, the literature review could supportresearch scholar to critically analysis the digitalization transforming in accounting sector and their impact on business. In last, it presents the research methodology section that could support to analyze many research techniques with respect to the current research concern.These research techniques are research approach, strategies, philosophy, data collection method, data analysis method, and sampling method.
3APPLIED BUSINESS RESEARCHTable of ContentsIntroduction................................................................................................................................4Research problem...................................................................................................................4Research background..............................................................................................................4Ethical consideration..............................................................................................................4Summary of Literature review...................................................................................................5Aims and objectives of research.............................................................................................8Research questions.................................................................................................................8Research methodology...............................................................................................................8Introduction............................................................................................................................8Research Philosophy..............................................................................................................8Research Approach.................................................................................................................9Research Design...................................................................................................................10Research Strategy.................................................................................................................11Data Collection Method.......................................................................................................12Sampling Method.................................................................................................................13Data Analysis Method..........................................................................................................13Limitations of the Study.......................................................................................................14References................................................................................................................................15Appendix..................................................................................................................................18Ethical consideration............................................................................................................18
4APPLIED BUSINESS RESEARCHIntroductionResearch problem The digitalization transaction could be imperative to decline manual process of organization and support to attain the organizational goal in the least time and cost. In the current business scenario, it is required for an organization to gain their understanding towards the digitalization transaction as it could support to get the higher competitive benefit (Daru, 2015). There are many causes that inspired to select this topic for investigation like higher availability of information, interested topic, and lack of study on this particular dilemma.Moreover, the main cause of selecting this research topic is that researcher is interested to gain their understanding towards organizations that are embracing to practice digitalization transaction in their accounting sector. Research background Digitalization supports an organization to reshape their business process for completing their business functions. It declines the manual process of the transaction and makes the easier process of accounting sector (Dodgson, et al., 2015). Furthermore, the financial technique plays an innovative role in the whole business process. Additionally, the financial data management enables the company to analyze accounting information for controlling the process of financial sectors. Thus, the organization has needed to gain their understanding towards digitalization techniques for making a positive image in the market. Ethical consideration In the research, ethics consist of performing suitable behaviour at the time of performing research activity. It permits the research scholar to perform their behavior in a methodological manner (Joshi and Parihar, 2017). In this, research scholar face many issues related to different factors like violation of copyright act, data manipulation, and plagiarism in order to gather the information. This concern could be eliminated by research scholar by
5APPLIED BUSINESS RESEARCHoffering credit to actual authors with respect to the suitable references and citation in each section. Moreover, it is also analyzed that research scholar will be used simple language to describe the collected data (Nayak, et al., 2017). From the implementation of ethical norms, researcher will be capable to reach at realistic conclusion with respect to current research concern. The research scholar will also provide the instruction towards the confidentiality among the research participants. As per the ethical norms, research scholar could not disclosethe personal information of research contributors (Nayak, et al., 2017) Summary of Literature review It can be summarised that digitalization is a platform to share the understanding in a time-bound manner. It also helps the investigator to simply access different kinds of data in an authentic way. Today, digitalization has been increasing and it embraces the organization for making accounting transaction. It takes more hours as it could influence modern business with respect to new lease of life (Gigov, and Poposka, 2017).It can be also evaluated that significant aspect of digitalization has been used to make changes in the accounting sector. It is assessed that the wave of digital medium has increased in the day to day working of the company. There are number of benefits for accountants. Oneof the significant benefits of digitalization transaction is that it could facilitate the account manager for maintaining financial records at the international level (Shukla and Bose, 2017).It can be also summarised that the digitalization transaction in the accounting sector could enhance the probabilities of cybersecurity in the organziation. As usage of internet and implication has gained, the safety against cyber-attacks becomes required. Accountants of thedifferent leading business organization should cooperate with cyber experts to eliminate the cyber threats (Özdoğan, 2017). There are several mobility benefits offered by the company toaccountants. Several accountants are investigating the technologies of mobile in order to offerthe quality services, gains for business and productivity. It is analyzed that digitalization is
6APPLIED BUSINESS RESEARCHused to handle the different financial activities of the organization. It also enables the organization to sustain their position in the marketplace (Rahman and Sloan, 2015). It can be also evaluated that the common theme of cloud computing has been repeatedly evaluated across all the different academic publications. In today era, accountants are exploring cloud in practices of business. Since, cloud-based infrastructure facilitates the unlimited storage services (Kishnani, 2017).It can be also summarised that different CFOs have reportedly demonstrated facts that they are not adequately ready to take on the latest advancement in technology. The changes in technology have caused of creating a big issue for CFO. About 39% of CFOs of different global level corporations have generally regarded technological modification as one of the most distressful factors in the today business era. It can be also evaluated that accounting practices have influenced the business. Digitalisation in accounting business has an impact on accounting and finance. A large amount of information of different sizes can incorporate into the business organization in every day. It isthe job of accounting with finance experts of making adequate sense of it (Bhatnagar, 2017). The internet economy has increased by leaps and bounds that was discussed in the Ketterer‘s 2017 study on Digital Finance, New Times, and New Challenges. The financial service industry is one of the leading growth industries in this digital era and this industry relies on the internet economy for its existence. Furthermore, the digital currency has been highly implemented in the today’s business world. It can be also summarised that one of significant theme that the internet era and digital platform has provided a transformation in the current social order. It is discussed by the Gulati and Soni’s report Digitization: A strategic key to business, Journal of Advances in Business Management. It is also stated that the modern finance job is being led by the CFOs in the modern hyperactive world that is dominated by the large effect of digitalization. This
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