Advantages and disadvantages of outsourcing accounting services in Australia

Running head: ACADEMIC & BUSINESS RESEARCH
Academic & Business Research
Name of the Student
Name of the University
Author Notes

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ACADEMIC & BUSINESS RESEARCH
Table of Contents
Introduction:...............................................................................................................................3
Project objectives:......................................................................................................................3
Project scope:.............................................................................................................................4
Literature Review:......................................................................................................................4
Requirement of accounting service in different sector:..........................................................4
Reason of outsourcing practice in Australia:..........................................................................6
Effectiveness and limitation of outsourcing activity:.............................................................8
Environment of business accounting practice in Australia:.................................................10
Conclusion:..............................................................................................................................11
References:...............................................................................................................................12
Appendix:.................................................................................................................................15

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ACADEMIC & BUSINESS RESEARCH
Advantages and disadvantages of outsourcing accounting services in Australia
Introduction:
In business administration the department of accounting provides the scope to
maintain book of earning and expenditure to identify the possible profit or loss. The
processes of the huge task are controlled by a group of individuals having effective skills to
prepare the book for every private or public sector. Introduction of the outsourcing eliminates
the scope of domestic market to improve the environment of a firm. Moreover, accounting
service is a very necessary activity in a business to maintain its financial stability and regulate
the earning of revenue in a viable manner.
Financial resource helps a country to secure its favourable environment to meet up
needs of different class of individuals. In this project critical discussion over the outsourcing
practice of accounting service in Australia is going to be performed. In order to achieve the
aim of the research objective and scope of the study has been mentioned to conclude the
study in an effective manner.
Project objectives:
Objective of a project is an important factor that provides a typical guideline to reach at
the aim of the research. In this study the environment of Australia has been focused to
calculate the advantage and disadvantage of outsourcing of accounting services from the firm
to the other countries. Hence, in order to conduct the study some objectives are framed
below:
 To understand the reasons for the outsourcing practices in Australia
 To identify the reasons of accounting services in Australia

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ACADEMIC & BUSINESS RESEARCH
 To recognise the limitation and effectiveness of business in Australia in the business
environment
Project scope:
The advantages and disadvantages of outsourcing accounting services in Australia has
a multiple possibility to offer a number of future researches to refer the view of the author in
their study. Reference of the study in the concept of outsourcing and its application in
different sectors and the impact of accounting and level of service available in different
countries will help to develop general knowledge on the topic.
Literature Review:
Requirement of accounting service in different sector: (Advantages and disadvantages)
A variety of reasons develop the requirements of accounting services in different
business sectors. At present skill and talent in a business organisation induces the chance of
its success that can enhance the potentiality of management. In this context Krstic and
Kahrovic (2015) mentioned that relationship between time and money in finance
administration motivates the performance of an organisation to influence the success of a
business. From health care to the banking and from manufacturing to retail in every place the
requirement of accounting allows the companies to provide upgraded services. Calculation of
book keeping depends on the accounting formula and the proper illustration of balance sheet
ensures the ultimate growth of an organisation followed by its day to day activities.
Business plan: