Implementation of Technology in Accounting and Finance

Running head: IMPLEMENTATION OF TECHNOLOGY IN FINANCE AND ACCOUNTING
Implementation of Technology in Accounting and Finance
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1IMPLEMENTATION OF TECHNOLOGY IN FINANCE AND ACCOUNTING
Executive Summary
The major purpose of selecting this research topic is to analyze the implications of technology
implementation within finance and accounting department of organizations in Australia.
Automatic software automates the traditional paper ledgers along with accounting books. The
auditing software has several specialised features which can be employed efficiently for the
existing business activities. The first chapter of this research proposal will offer a view on
research topic, description of the selected organization and on the research problem. The second
chapter will explain the research problem along with developing significant objectives for
attaining in completion of the research. Huge business activities might choose a system based
software package which encompasses system of enterprise resource planning. Analysis of data
will take place by means of employing all the relevant and statistically significant tools that can
further facilitate in attaining suitable research outcomes regarding use of accounting technology
within Australian organizations and its effectiveness.

2IMPLEMENTATION OF TECHNOLOGY IN FINANCE AND ACCOUNTING
Table of Contents
1. Research Introduction......................................................................................................4
1.1. Research Topic.........................................................................................................4
1.2. Client Company Description....................................................................................4
1.3. Research Problem.....................................................................................................5
1.4. Proposal Structure.....................................................................................................5
2. Research Problem and Objectives...................................................................................6
3. Literature Review............................................................................................................7
3.1. Modern Accounting System and Ethics...................................................................7
3.2. Information Technology and Auditing.....................................................................9
3.3. Limitations of Technology Used in Accounting and Finance................................11
3.4. Managerial Implications of Accounting Technology.............................................12
4. Research Design and Methodology...............................................................................14
4.1. Research Type........................................................................................................14
4.2. Approach of Research.............................................................................................15
4.3. Type of Data...........................................................................................................16
4.4. Data Collection.......................................................................................................16
4.5. Research Sampling.................................................................................................17
4.6. Data Analysis..........................................................................................................17

3IMPLEMENTATION OF TECHNOLOGY IN FINANCE AND ACCOUNTING
4.7. Ethical Concern......................................................................................................18
References..........................................................................................................................19
Appendix............................................................................................................................23

4IMPLEMENTATION OF TECHNOLOGY IN FINANCE AND ACCOUNTING
1. Research Introduction
1.1. Research Topic
The major purpose of selecting this research topic is to analyze the implications of
technology implementation within finance and accounting department of organizations in
Australia (Maiga et al. 2014). The research design is also relied on literature review and it is also
based on the previous researches that analyzed the impact of technology implementation within
finance and accounting departments of companies. The highest impact made by technology is o
the accounting and finance activities. The companies have bee capable to increase its profit
through employing updated computerized systems in a manner that it can simply track and
record every financial transaction of the companies. Certain capabilities of employing the
computerized accounting processes includes enhanced functionality, rapid processing, better
external reporting as well as enhanced accuracy (Moorthy et al. 2012). Knowledge sharing
systems and audit software are two vital aspects for such important changes. Specialised audit
software implementation along with audit task automation has changed technology for labor
along with drastically changing the audit teams’ structure. It is vital to employ the advanced
technology system within financing activities for obtaining business success in the future. This
can also facilitate in sharing the knowledge information all over several organizations. This has
also made the professionals of Australia to use its human resources in a better manner
(MacKenzie 2016).
1.2. Client Company Description
For carrying out analysis of technology implementation in finance and accounting, 20
public listed companies of Australia will be employed. Selection of such companies is deemed to

5IMPLEMENTATION OF TECHNOLOGY IN FINANCE AND ACCOUNTING
be suitable that can facilitate in understanding the technology used by them in their accounting
processes (Panneerselvam 2014). The managers from these organizations will be selected in
carrying out survey and for attaining suitable research outcomes.
1.3. Research Problem
Accounting is a process which is followed within an organization for measuring the
company’s financial performance along with segmenting all the vital transactions within the
company (Rezaee et al. 2018). This also includes sales, assets, purchases as well as liabilities in a
manner that is aligned by a particular accepted standard formats. Accounting is employed for
analyzing the companies past, future as well as present prospects. In the recent years rapidly
changing business surrounding, if the accounting laws as well as standards are not employed
focused on the technology it can generate a concern. Research problem is understood as
inadequate technology implementation within the accounting standards followed by the
companies (Sahawneh, Hayek and Bshayreh 2016). Automatic software automates the traditional
paper ledgers along with accounting books. The auditing software has several specialised
features which can be employed efficiently for the existing business activities. Huge business
activities might choose a system based software package which encompasses system of
enterprise resource planning. Technology has also generated considerable advantages for the
finance as well as accounting department (Schneider et al. 2015). For this reason, the
technological impact has resulted in decreasing lead time required to represent the financial
information and also enhances the reliability along with overall effectiveness of accounting
procedures and techniques.