Impact of Technological Innovation on Accounting and Finance Operations of Manufacturing Firms in Australia

‘Impact of technological innovation on accounting and finance operations of
manufacturing firms in Australia’

Part 1: Title of the research
‘Impact of technological innovation on accounting and finance operations of manufacturing
firms in Australia’

Part 2: Abstract
Part 2.1: Research Introduction
The implementation of information technologies and systems are causing new
developments in the area of accounting and finance operations. The evolution of latest
technologies such as artificial intelligence and other online accounting software are proving to be
largely useful for the accountants to simplify their daily task roles. The tedious roles of
accountants is undergoing simplification and also there is improvement in accuracy of the
financial and accounting processes of the businesses, In this context, this research has been
undertaken for examining the influence of technological innovation on causing changes within
accounting and financing activities in particular reference to manufacturing firms in Australia.
Part 2.2: Matter Investigated
The research seeks to explore the importance and changes that have been brought by the
use of information technologies and systems on the accounting processes of the manufacturing
firms. The different type of such technologies that can be used by the manufacturing sector to
enhance the efficiency of their accounting processes will also be discussed within the research.
This research will also explore the benefits and problems faced while using the modern day
information technology driven accounting system within the manufacturing companies.
Accountants at manufacturing companies’ faces issues like server error, bugs and many other
issues that renders system unavailable to them. On the other hand, there are many benefits
received by the accountant such as hassle free inventory management, reconciliation of accounts
and many other benefits that make the accounting easier and fast.
Part 2.3: Research design & methodology
The research will involve the use of qualitative research methodology that involves
analyzing and exploring relevant themes developed from the secondary data collected from the
selected credible research articles. It will involve the use of descriptive research design for
addressing the research aims and objectives. The thematic analysis will be used to examine the
secondary data collected with the use of sample of 10 to 15 academic research articles.

Contents
Part 1: Title of the research..............................................................................................................2
Part 2: Abstract................................................................................................................................3
Part 2.1: Research Introduction....................................................................................................3
Part 2.2: Matter Investigated........................................................................................................3
Part 2.3: Research design & methodology...................................................................................3
Part 3: Introduction to the Research................................................................................................5
Part 3.1: Topic of the Research....................................................................................................5
Part 3.2: Client Organization.......................................................................................................5
Part 3.3: Problem Addressed by the Research.............................................................................5
Part 3.4: Structure of the Proposal...............................................................................................5
Part 4: Research problems and research objectives.........................................................................6
Part 4.1: Research Problem..........................................................................................................6
Part 4.2: Research Question and Research Objectives................................................................6
Part 5: Literature Review.................................................................................................................7
Part 5.1: Evaluation of the Importance & Changes caused by the technological innovation on
the Accounting and Financing Operations of Manufacturing Firms...........................................7
Part 5.2: Types of Technological innovation used in the Field of Accounting and Finance by
Manufacturing Firms....................................................................................................................8
Part 5.3: Evaluation of the Potential Benefits and Drawbacks Associated with the use of
Accounting Information Technologies......................................................................................10
Part 6: Research Design and Methodology...................................................................................10
Part 6.1: Research Design/Type.................................................................................................10
Part 6.2: Research Approach......................................................................................................11
Part 6.3: Data type used in the research.....................................................................................11

Part 6.4: Data collection method................................................................................................12
Part 6.5: Sampling method, size and technique.........................................................................12
Part 6.6: Data analysis................................................................................................................13
Part 6.7: Ethical Consideration..................................................................................................13
Part 7: References..........................................................................................................................14
Part 8: Appendix............................................................................................................................17

Part 3: Introduction to the Research
Part 3.1: Topic of the Research
This research intends to examine and explore the research topic of analyzing the impact
of implementing information technology systems and processes on accounting and finance
operations of manufacturing firms in Australia.
Part 3.2: Client Organization
The research has not been carried on any specific organization but has been carried out in
the context overall manufacturing sector in reference to Australia
Part 3.3: Problem Addressed by the Research
There exists large complexity within the manufacturing firms in Australia for
implementing the use of new software and technologies that can enable them to improve their
operational efficiency. The supply chain activities of the manufactuirng firms are assocaited
with recording and interpretaing large amount of financial data such as tracking of inventory,
creating invoices, determining price of products, centralising the various accounting data for the
purpose of developing financial reports. There is large need for manaufacturing firms to improve
their oepratioanl effeiciency by better aloocation of financial resources to ensure that various
operatinal processes are carried out without any constraint. Therefore, the use of IT systems that
helps in better tracking cost of inventory, expenses and revenue in a regular manner by gaining
access to real time data would enable these firms to better meet their strategic goals and priorties.
(Perry and Newmark, 2011).
Part 3.4: Structure of the Proposal
This research proposal is developed for providing a brief regarding the way in which
actual research will be conducted regarding the selected research topic. This proposal has
primarily addressed the research aims and objectives which help in providing the nature of the
research. This is followed by conducting a comprehensive literature review that explores and
analyses the key findings provided by the previous authors in relation to the research topic
selected. The comprehensive literature review is conducted by identifying and exploring the
relevant data from the selected research articles selected in the context of the research topic. The
proposal then includes a section for detailing the type of research design that will be adopted for
addressing the research aims and objectives. This includes description regarding the type of