Impact of Technological Advancements in Modern Day Accounting

This research proposal explores the impact of technological advancements on the accounting system of the modern age. It discusses the research questions, hypotheses, aims, and objectives, as well as the background, literature review, and research methodology. The study aims to evaluate the effectiveness of technological advancements in shaping modern accounting and identify potential challenges and future possibilities.

IMPACT OF TECHNOLOGICAL ADVANCEMENTS IN
MODERN DAY ACCOUNTING

Abstract
Purpose of this research proposal is to provide clear outline of research method. The topic of this
research is about impact of technological advancement on accounting system of modern age. The
introduction part of this article has mentioned research question, hypotheses, aim, and objectives of
this project. Background of research has been briefly discussed. In the literature review section,
review of four selected articles relevant to research topic have been presented. The methodology
section has mentioned paradigm of research, technique of data collection, process of data analysis and
ethical consideration those will be considered in research. In case of this research, secondary data is
being collected and processed. Research is going to follow positivism philosophy, deductive approach
and descriptive design of research. At the end of this proposal, a brief outline of selected research
method has been included. It is expected that following selected methodology will help researcher to
generate reliable outcome at the end of research.

Table of Contents
1. Introduction............................................................................................................................4
1.1 Introduction......................................................................................................................4
1.2 Research background........................................................................................................4
1.3 Research problem/questions.............................................................................................5
1.4 Research aims and objectives...........................................................................................6
1.5 Summary...........................................................................................................................6
2. Literature review....................................................................................................................6
2.1 Critical evaluation of progression and theories in accounting field.................................6
2.2 Evaluation of common themes mentioned in four chosen articles...................................7
2.3 Discussion on different themes/findings of selected papers.............................................8
2.4 Assessment of managerial implication.............................................................................9
2.5 Research limitation and proposed direction for future research.....................................10
3. Research methodology.........................................................................................................10
3.1 Introduction....................................................................................................................10
3.2 Research paradigm.........................................................................................................10
3.3 Data collection methods.................................................................................................12
3.4 Sample size.....................................................................................................................13
3.5 Data analysis methods....................................................................................................13
3.6 Ethical considerations.....................................................................................................13
3.7 Conceptual framework...................................................................................................14
3.8 Summary.........................................................................................................................15
Research outline.......................................................................................................................15
Reference list............................................................................................................................16

1. Introduction
1.1 Introduction
Technological advancement has helped to simplify the process of accounting in present era.
In this part of study, background of this subject area has been discussed that has helped to
form proper research questions. Moreover, hypothesis of the research and aims and objectives
has been framed in this part.
1.2 Research background
Advancement of technology can be seen in over past few decades and has taken a central in
the process of accounting in this age of information. Different tools like specialized
accounting software, cloud-based systems, and mobile accounting have increased efficiency
of the tasks related to accounting (Taiwo, 2016). Innovation in technology has increased
efficiency of accounting by reducing number of errors that have impacted business
organization performance. Growth in information technology has proved to become an
essential driver of economic growth. This technology has become an inevitable part of
business operations. As opined by Nguyen (2016), modern-day accounting also incorporates
information technology that helps in the process of decision making. This technology
provides essential information for managers and helps in day to day operations of a firm.
Cloud-based systems have increased storage capacity of accountants that can be referred for
future accounting operations. Moreover, Chouhan et al. (2018) contradicted that different
specialized accounting software has been incorporated into many organizations that help in
tracking financial records easily. Moreover, calculations can be done without any errors,
which impacts on performance of a company.
In present competitive market, organizations need to make the best use of resources to
position themselves at global market. Incorporation of technology can help them to achieve
this goal and helps to save operational costs at a greater rate. Traditional pen, journals, and
ledgers are replaced almost by information system in the process of accounting. As stated by
Ghasemi et al. (2011), every business company today rely on data management software like
excel for making entries and checking essential updates. For staying in market competition it
is essential for every firm to adopt technology in the process of accounting. Manual data
entry and calculation increase risk of human error that causes loss of essential resources and

decreases competitiveness of a firm. Digitizing of data and other accounting operations helps
in the process of client transactions that helps in gaining customer satisfaction (Venegas &
Mosqueda, 2017). Hence, in this technologically advanced world, it is important for business
organizations to adopt information technology for operating accounting in an error-free way.
This, in turn, can help to gain competitive advantage and can help in growth of a business in
future.
1.3 Research problem/questions
This research is focusing on evaluation of effectiveness of technological advancement in
shaping accounting of modern age. Research questions are mentioned below,
● What is the impact of technology on potential accounting challenges since the
beginning of its time?
● Can technological advancement be considered as the reason behind disruption of
practices of traditional accounting?
● What are the facilities introduced by modern technology for management of
information in accounting information system?
● What are the potential challenges that have been emerged for IT issues in current
system of accounting and what is the impact of these challenges on organizational
performance?
● How can technology help in improving performance of accounting field and what
future possibility can be assumed?
1. 3.1 Hypothesis of the research
H1: There is significant impact of technological advancement on accounting system of
modern age.
H0: There is no significant impact of technological advancement on accounting system of
modern age.
1.3.2 Limitations and delimitations of the research
Certain limitation may be faced during conduction of this research regarding limited time and
budget. As this research will be completed within predetermined time and expense, it will be
hard to get maximum level of accuracy in result.
On another hand, this research will focus on collection as well as evaluation of secondary
data. It means that it will be easier to gather evidence based on research papers regarding this

topic. It will be easier to avoid biases during data collection and data analysis. Due to this
reason, outcome of this research will be evidence-based and reliable.
1.4 Research aims and objectives
Aim of this research project to develop understanding on impact of technological
advancement on accounting system of modern age and assessing the future possibilities of
technological advancement in accounting field.
Objectives of this research are mentioned below,
● To critically evaluate the role of technology in making accounting accurate as well as
proficient.
● To review the role of technological advancement in making accounting system time
and cost-effective.
● To study impact of technological advancement in the process of decision making.
● To identify potential technological challenges that is being faced by modern
accountants and find out possible solutions to minimize those challenges.
1.5 Summary
This part of research proposal has introduced the topic and have mentioned purpose of this
research. The following discussion is shedding light on outline of this research along with its
limitations as well as limitations.
2. Literature review
2.1 Critical evaluation of progression and theories in accounting field
In this study, theory of technology has been elaborated that is relevant to accounting.
According to this theory, technology has made significant impact on the process of
accounting. The articles that are selected for review supports this theory however, field of
accounting varies in different articles. However, the impact of technology has been discussed
in every article. As stated by (Geerts et al., 2013), communication and information
technology have been integrated with modern day accounting. In this article, significance of
communication and information technologies in accounting are discussed in a detailed. This
proves the relevance of theory of technology in this sector of study. Moreover, in the article
of Hsihui Chang et al., (2011), role of information technology in industry of accounting is

stated. Theory of technology clearly describes different factors that shape technological
innovation. In this article, IT artifacts have researched that supports and improve the process
of accounting.
According to theory of technology, it is a self-correcting system that constantly upgrades and
improves process of accounting. For example, evolution of e-business has impacted the
process of auditing. Different practices of auditing have become easy and the number of
errors has decreased. In this field theory of technology is relevant as information and
communication technology has helped in collection of information and processing of those
information to generate correct audit reports. In another research article by Kotb & Roberts
(2011), it can be seen that integrated web-based business has adopted different way of
business operations and that impacted their economy. E-business audits are different from
traditional audits and it has more control over internal system and accounting process. Hence,
theory of technology is also applied in this article as it proves that incorporation of
technology has the capability to change mode of business operations. Integration of
innovative technologies in business helps an organization to gain better development
opportunities. This theory also explains that incorporation of technology with operation
process like accounting helps in growth of productivity. Integration of technology with
human capital is also essential that helps to achieve future growth opportunities.
2.2 Evaluation of common themes mentioned in four chosen articles
All of the chosen research papers have common findings regarding the impact of
technological advancement on the field of accounting of modern age. The first chosen article
have mentioned about role of integrated technology in research and practices of accounting
field (Geerts et al., 2013). In this article, it has been mentioned that a framework of
information technology has been applied in accounting systems. Authors have been stated
that implementation of integrated technology is helpful in making existing research practice
easier. In this case, it has been mentioned that integrated information technology is potent
enough to contribute to improvement of both research and accounting practice. Authors of
this paper have mentioned potential recommendations for ensuring integrated technology.
Findings of this paper are indicating that advanced information technology helps in
improvement of accounting system and helps in generation of trustworthy outcome of
research.

The second chosen article has stated similar findings as it is indicating importance of
technology in accounting field. As opined by Hsihui et al. (2011), growth of business
performance of accounting industry firms depends on information technology. Approach of
authors of this article is slightly different from the first article as they have not mentioned
about advancement of technology. Instead, they have mentioned role of information
technology in the field of modern accounting. This paper has evaluated role of human capital
as well in business performance. Findings of this paper have mentioned that information
technology along with with human capital contributes to growth of organizational
performance.
The third chosen journal is about understanding of e-business on the process of audit (Kotb
& Roberts, 2011). E-business is a result of technological advancement and it can be stated
that evaluation of impact of e-business may help to understand impact of technological
advancement on auditing process. Hence, it can be considered that findings of this article are
common with the previous articles. In case of the fourth selected journal, authors have
focused on evaluating effect of digital revolution on national field of accounting. In addition,
this paper has concentrated on the potential challenges caused by technological revolution in
accounting field (Grömling, 2016). Digital revolution has caused technological advancement
and it can be seen that findings of this research paper are sharing the common concept like
other selected articles.
2.3 Discussion on different themes/findings of selected papers
Findings of selected articles are different, however, they have presented same themes.in the
first article, it can be seen that benefits of integrating accounting have been discussed in
details. This article also states that research and practice are important for gaining proper
result along with integration of technology. It was also found in this article that understanding
of iterative research is essential along with current practices. This can help to integrate
policies with business operations and proper control in business can be exerted.
Efficiency and accuracy are results of good accounting, which can be achieved by integrating
information technology with this process (Hsihui et al., 2011). According to this article,
efficient human capital and proper investment in information technology help to improve
quality of accounting. This, in turn, helps to increase productivity of a firm. In this article,
investment in IT has been identified as a key driver that can help in improving productivity.
In addition, it is also mentioned in this article that high-quality human capital must be

appointed in a public organization. These findings also depict the same theme of
technological incorporation. On another article by Kotb & Roberts (2011), different impacts
of using technology on accounting are discussed. Use of information technology in
accounting helps to gather useful information quickly that helps to increase efficiency of the
process. Emergence of web-based business has helped to increase the quality of day to day
operations and impact in the nature of work done. This helps a public sector organization to
build a competitive position in market. This article is focused on impact of e-business on
financial accounting. The fourth article talks about different challenges that arise with
implementation of information technology. The first two articles are focused on establishing
relationship between technology and accounting. However, they do not see technology as a
challenge as noticed in fourth article (Grömling, 2016). Moreover, al the four articles selected
for review purpose and focused on technology and accounting but with different findings.
2.4 Assessment of managerial implication
Selected articles have different kinds of managerial implications as findings of these journals
are different. The first article has mentioned that integrated information technology has
positive impact on accounting practice and research. Recommendations have been made for
managers to ensure technological advancement for improving accounting system and
research. Researchers have applied framework of technology for integrating different kinds of
research method and different accounting system. Managerial implication of this research
paper to challenge managers of firms in accounting field for integrating technology within
accounting practice and research.
The second chosen article has discussed positive outcome after application of technology in
accounting field. According to Hsihui et al. (2011), information technology and human
capital help in ensuring growth of company. Hence, it can be understood that information
technology is an essential part of accounting field and it influences financial performance of
the company. It can be seen that managerial implication is positive as it has been clearly
mentioned that implementation of information technology is beneficial. Managers can rely on
findings of this research paper and they must implement information technology for
improving business performance.
Managerial implication of the third journal is neutral as it consists of investigation of factors
that lead to change. Effect of e-business on auditing has been discussed and managers can get
no proper direction from the conclusion of this study. This paper is providing opportunity for

managers to make decision of their own. On another hand, the fourth journal has mentioned
challenges for accounting field due to digital revolution. Due to this reason, it can be
understood that this research paper is indicating negative managerial implication. Hence,
managers are responsible to make decision of their own after assessing potential challenges
of using information technology in accounting field of modern age.
2.5 Research limitation and proposed direction for future research
Chosen articles have not specified in particular information technology and this aspect can be
considered as a limitation of this study. The first article has not mentioned about specific
techniques that can improve performance of accounting practice and research. On another
hand, the second chosen article has the same limitation as it has failed to focus on a particular
information technology that affects accounting forms. It can be seen that third article has
presented slightly broader context as they have discussed impact of e-business on audit
process. However, future researchers can investigate different kinds of e-business that impact
auditing process. The fourth article has mentioned various challenges of information
technology. Hence, there is opportunity for future researchers to focus on particular
challenges of technological advancement.
3. Research methodology
3.1 Introduction
This section of this research proposal is mentioning the appropriate method that can be
considered as appropriate for this research. Selection of appropriate methodology is going to
help in generating trustworthy outcome from this research. In this case, secondary data will
be collected and evaluated by considering appropriate methods.
3.2 Research paradigm
Philosophy of research
Different kinds of philosophy of research are there and all of these philosophies are
concerned with development of different types of research outcome. It is the liability of
researcher to select the appropriate philosophy to complete the research to get effective result.
In this project, positivism philosophy will be considered to generate accurate result. This
philosophy has well-defined structure and it helps to gather objective information regarding

subject of research. As mentioned by Walliman (2017), positivism philosophy itself is
subjective by nature and this aspect is supportive to generation of trustworthy outcome.
Researcher will be allowed to follow predetermined rules and it will help to avoid error in the
result. It will be easier to gather information as evidence to develop understanding on impact
of technological advancement on accounting system of modern age. On another hand,
consideration of this philosophy will help in understanding future progress of technological
advancement in accounting field.
Approach of research
Different approaches lead to generation of different kinds of outcome through following
different processes. For example, inductive approach prevents to review past as well as
present theories. On another hand, Clarke & Cossette (2016) have mentioned that researcher
gets opportunity to study existing theories related to topic of the research. In case of this
research, deductive approach of research will be followed. This decision regarding research
approach is potent enough to help in dealing with testing of hypotheses. Evaluating this
aspect of deductive approach it can be assumed that it will be easier to understand whether
there is significant impact of technological advancement on accounting system of modern age
or not. At first, existing theories require studying by researcher and after that, hypotheses are
developed. Testing of hypotheses provides opportunity to generate authentic and error-free
result.
Figure 1: Approaches to research
(Source: Influenced by Clarke & Cossette, 2016)
Design of research
Research design selection is one of the crucial parts of research as it is influencer of outcome
generation. As stated by Johnston (2017), descriptive design is helpful to understand concept
of variables of research. On another hand, explanatory design of research relies on

longitudinal concept, which is no relevant to this study. Aspects of exploratory design are
unable to help to evaluate impact of independent variable on dependent variable. After
analyzing this fact, it can be stated that descriptive research design will be followed in this
case as it is the most relevant one for assessing impact of technological advancement on
accounting system of modern age. Selection of this design has the potential to help in
understanding all aspects related to technological advancement in accounting field.
Figure 2: Design of research
(Source: Influenced by Johnston, 2017)
3.3 Data collection methods
There are two types of data collection methods that include primary and secondary methods.
In primary data collection process, fresh data is collected from respondents that are selected
from a particular population. Surveys, interviews and focus group discussion are some
popular tools of this method that helps in primary data collection. On another hand,
secondary data collection helps in in-depth research of a particular subject area. Articles,
ebooks, and research reports are some essential source of data collection in this method
(Silverman, 2016). Different journals, articles, and books are collected from relevant sources
and data are retrieved. However, it is essential for researchers to collect recent articles related
to topic that contains updated information. In this study, secondary data collection method
has been adopted for collecting data and information.
This method has been adopted because different sources consist of information that was
collected by other researchers, which can help in proper understanding of the topic.
Moreover, secondary data can be proved useful when there are limitations regarding
resources such as time and money. Hence, in this study, secondary information will be
collected from different sources like journals on accounting, published research reports and
books. These resources will be included in reference list of the study later.

3.4 Sample size
In this research, primary data will not be collected and secondary research method will be
applied. Hence, no such sample size can be mentioned as data will be collected from journals
and articles. However, data will be collected from 10 journal articles, 3 eBooks on accounting
and 5 research reports.
3.5 Data analysis methods
Qualitative secondary analysis will be done in this study that can help in achieving desired
objectives of the study. Quantitative and qualitative analysis can be done while analyzing
obtained data. Charts and graphs are used for analyzing quantitative data that contains
statistics from reports and articles (Adams et al., 2007). Different articles are searched and
relevant data and statistics are recorded through charts and graphs. Moreover, thematic
discussion and article review is done in qualitative data analysis process. Different themes
regarding the topic are set and discussion is done regarding information retrieved from
articles and papers.
In this study, thematic data analysis will be done because this can help researchers to conduct
in-depth analysis of the study. Discussion of findings of different articles and information
from books will be done under different themes. Themes must be designed according to the
subject area and gathered data but not be predetermined by the researchers. Researchers use
thematic analysis for gaining proper knowledge and insight from gathered data. This process
of data analysis helps researchers in deeper appreciation for the subject area that has been
studied.
3.6 Ethical considerations
Ethical guidelines must be followed while conducting research on any subject area. This can
help in minimizing risk and can help to increase benefits of the project. Different ethical
principles will also be applied in this study. The data that will be collected must not be
modified or misused for other purposes. Safety and security of data need to be maintained
that can help to gain desired objectives in a proper way. Results need to be presented in a
comprehensive that can help all related parties in understanding. In this research, secondary
data will be collected. Hence, appropriate sources need to be mentioned and acknowledged
that can help to maintain authenticity of the study.

THEORY OF
TECHNOLOGY
KNOWLEDGE OF
HUMAN CAPITAL
REGARDING
TECHNOLOGY
INFORMATION
TECHNOLOGY
COMMUNICATION
TECHNOLOGY
MODERN DAY ACCOUNTING CHALLENGES OF
INFORMATION
TECHNOLOGY THAT
AFFECT ACCOUNTING
SYSTEM
PERFORMANCE OF
ORGANIZATIONS
3.7 Conceptual framework

Figure 3: Conceptual framework
3.8 Summary
In this part of study, different methods that will be applied to gain desired objectives of the
study has been discussed. Secondary method of data collection will be applied in this study
and thematic way of data analysis will be done. Positivism philosophy will be adopted to gain
desired objectives of the study.
Research outline
Criteria Selected methodology
Philosophy of research Positivism
Approach of research Deductive
Design of research Descriptive
Type of data collection Secondary
Sample size 4 Articles
Technique of data collection Secondary qualitative
Table 1: Research Outline

Reference list
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