Offshore Outsourcing of Accounting Industry: Benefits and Implications

Running head: MANAGEMENT ACCOUNTING
MANAGEMENT ACCOUNTING
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MANAGEMENT ACCOUNTING1
Table of Contents
Chapter 1 - Introduction.............................................................................................................2
Chapter 2 - Background and Statement of Problem...................................................................2
Chapter 3 - Research Question...................................................................................................3
Chapter 4 – Literature Review...................................................................................................3
Chapter 5 - Data Collection method and Instruments................................................................6
References..................................................................................................................................7

MANAGEMENT ACCOUNTING2
Chapter 1 - Introduction
The aim of the assignment actually deals with the research study on the topic which is
offshore outsourcing of the accounting industry. Some of the significant parameters while
conducting the research work is considered in this case which is that the accounting industry
is outsourced to some of the accounting firms where further the firms are outsourcing to the
low labor cost countries. The benefits of the companies for opting the outsourcing of the
accounting industry are also considered in that case along with the risk and future
implications on the business of the company. Another significant factor which is highlighted
in this case is that benefits of the low labour costing countries. This is quite an interesting
topic which is booming in the recent years.
Chapter 2 - Background and Statement of Problem
The chosen topic for this assignment is all about the global outsourcing of the
accounting and the bookkeepers in the industry. There are actually certain benefits regarding
the outsourcing the accounting and bookkeeping industry. Most of the counting and the
bookkeeping works are actually outsourced in the recent years where most of the potential
firm in the industry finds it more cost effective. Most of the financial and accounting services
of the industry are actually outsourced to the other countries and the reason behind it is more
effective work can be obtained at a very low cost. The offshore outsourcing of the financial
and accounting services is increasingly becoming effective due to the fact that the
development in the technological aspects of the company (Schaltegger and Burritt 2017).
The problem statement is regarding the effectiveness of the strategy which is used by
the potential firms in the industry based on strategy utilized in the industry as the technology
in the recent years is enhancing in a rapid manner. The accounting activity which is actually
outsourced by the firm are the cash management, purchase payments which includes the bank
reconciliation and other expenses. The preparation of the financial reports of the company is