Application of Technological Process and Accountant in the Financial Domain of Australian Industry

This research focuses on the impact of technological updates on the accounting business in Australia. The study aims to compare and contrast the standards of accounting in the top 20 companies listed on the ASX and evaluate the extent to which technology is used in business development. The research also aims to gather information on whether the organization is at par with technological updates and utilizing them.

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Name : ________________________________________________
Student ID : ____________________________________________
Proposed Research Title:
Application fof technological process and accountant in the financial domain of
Australian Industry
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Client Organisation (if applicable)
The organization in the selected research comprises of the entities that are listed on the
Australian Stock exchange. The top 20 companies appearing in the ASX are selected
for the purpose of study such as ANZ banking group Ltd, BHP Billiton,
Commonwealth Bank, Brambles Limited, etc.
The main focus of this research rests on the fact that the companies from the finance
domain need technology and the same are discussed with precision. Technological
updates are important because it helps in the smooth functioning of the company.
Research Background
The progress in technology has undergone major alterations and the updates have led to
the more effective mechanism. The major benefit can be traced in the business
environment and especially the financial domain. The changes have a direct impact on
the accountant, as well as a business because the changes need to be implemented. With
the help of technology, the process of management and role of the accountant have
undergone a major change. It is important for the accountants to trace the changing
system so that the business does not suffer from any deficiency. Further, the business
environment is endowed with innumerable challenges that require the accountant to be
well versed with the latest updates. The changes in the technological process require the
accountant to update their domain so that the use of the technology can be done with
ease. Therefore, technological improvement can be said to be the best weapon of the
business to thrive in the field of cut-throat competition. Failure to grasp the
technological update will devoid the business of various advantages and hence a
noticeable difference can be observed. To ensure that the business drives in the best
direction, the accountants should have proficiency in introducing technological updates.
Research Problem / Research Question
i. What is the present condition of the accounting business in Australia?
ii. What is the extent to which technology is used in the business development of
Australia?
iii. What are the major benefits that can be attained through the technological
inventions and process?
iv. Is there any loophole behind the technological advancement?
v. What can be the possible ways of the business to combat the changing
technological process?
vi. How can a business ensure a strong link with the new and latest updates?
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Research Aim and Objectives
The research has been undertaken with the following objective:
i. Comapre and contrast the manner in which the standards of the accounting
performs when the technological updates is adapted and impelmented in the
top 20 companies listed on the ASX.
ii. To evaluate the top twenty companies so that it provide a meaningful answer
to the fact that how technology can add to the betterment of the companies
and how it will be customer oriented in nature.
iii. To gather information whether the organization is at par with the
technological updates and utilizing them.
Keywords for Literature Review
Keywords – technological innovation, technology, innovation, public listed companies,
hurdles, acccounting, accountants, Australian companies, standards.
Publication details of relevant articles for literature review
1. Kimber, A., 2015. Emerging technology trends: the road to the bank of future,
Ernst & Young, Australia. [online]. Available at:
http://www.ey.com/Publication/vwLUAssets/EY_-
_Emerging_technology_trends/$FILE/EY-emerging-technology-trends.pdf
[Accessed 11 April 2018]
2. Guney, A., 2014. Role of Technology in Accounting and E accounting. Social
and behavioural science, 157(2), pp. 852-855.
https://doi.org/10.1016/j.sbspro.2014.09.333
3. Uday S. M., and Geerts. G.L. 2017. An REA Ontology-Based Model for Mapping Big
Data to Accounting Information Systems Elements. Journal of Information System,
[online]. 31(3), pp. 45-61. https://doi.org/10.2308/isys-51803
4. Appelbaum, D. Kogan, A. and Vasarhelyi, M.A. (2017) Big Data and Analytics in the
Modern Audit Engagement: Research Needs. AUDITING: A Journal of Practice &
Theory, [online] 36(4), pp. 1-27. https://doi.org/10.2308/ajpt-51684
5. Lee, J., Lee, E., Kim, H.K and Gyung H. P. (2017). Acquired In
‐process Research
Development and Earnings Management. https://doi.org/10.1111/auar.12210 [Accessed
11 April 2018]
6. Tweedie, D., Nielsen, C., and Bennie, N.M. (2017). The Business Model in Integrated
Reporting: Evaluating Concept and Application 2017 [online], 13(2), pp. 23-30.
https://doi.org/10.1111/auar.12196 [Accessed 12 April 2018]
7. Hoozée, H., and Mitchell, F. (2017). Who Influences the Design of Management
Accounting Systems? An Exploratory Study. Australian Accounting Review, [online]
https://doi.org/10.1111/auar.12193
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Data Collection Plan
For the completion of the research, the use of primary and secondary data will be taken
into consideration. The main source through which the information will be gathered is
survey. The top 20 companies will be visited containing a survey on the technological
implementation and use in the company. this will help in providing information on the
tecchnological process of the companies. Once the data from all the 20 companies are
selected it will be compared to derive at the conclusion.The main aim of the survey is to
look at the prospect of technology in the accounting arena. This will help in knowing the
influence of technology on the business..
Ethical Consideration
The ethical consideration that can be observed in this scenario is the academic control. It
is a tough process to survey all the 20 companies and above all to get a permission from
them. However, considering the time span and the hassle, the survey must be done with
confidentiality and without any bias. This will help in providing genuine data and can
lead to an error free result. Hence, the results will be accurate and the conclusion will
benefit the study if the data collection and proceedings are devoid of any alterations.
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