Observation on Innovation In Technology and its impact in Accounting

Running head: TECHNOLOGY INNOVATION IN ACCOUNTING
Observation on Innovation In Technology and its impact in Accounting
Name of the University:
Name of the Student:
Authors Note:

1TECHNOLOGY INNOVATION IN ACCOUNTING
Abstract
Within the profession of accounting, technology has attained its importance within the ascent of
accounting consultancy. The major aim of the current research is to evaluate the “Observation on
Innovation In Technology and its impact on Accounting” that can facilitate in anaysing the
diagnosis of innovation aong with its effect on business along with throtghly dealing with its
drawbacks to attain the best from from such analysis. The literature review explains that there are
numerous managerial implications of employing recent innovation within the accounting
processes in companies. These researchers also proposed that new and innovative accounting
processes for evaluating innovation so that the development in the organization that might be
made. Moreover, the section of research methodology in this research explains suitable study
approach, philosophy, process of data collection, study design, plan of data analysis along with
reliability and validity of collected data.

2TECHNOLOGY INNOVATION IN ACCOUNTING
Table of Contents
1. The Research Problem.....................................................................................................4
2. Research Background......................................................................................................5
3. Ethical Consideration.......................................................................................................6
4. Literature Review............................................................................................................7
4.1. Introduction...............................................................................................................7
4.2. Impact of Innovation in Accounting.........................................................................9
4.3. Managerial Implication of Accounting Innovation within Organizations..............10
4.4. Research Gap..........................................................................................................11
4.5. Summary.................................................................................................................12
5. Aims/ Objectives of Research.......................................................................................12
6. Research Design or Methodology.................................................................................13
6.1. Introduction.............................................................................................................13
6.2. Philosophy of Research..........................................................................................13
6.3. Approach of Research.............................................................................................14
6.4. Research Design.....................................................................................................15
6.5. Data Collection Technique.....................................................................................15
6.6. Data Analysis..........................................................................................................16
6.7. Sampling and Sample Size....................................................................................16

3TECHNOLOGY INNOVATION IN ACCOUNTING
6.8. Research Reliability and Validity...........................................................................17
6.9. Data Collection Process Limitations......................................................................17
6.10. Summary...............................................................................................................18
References..........................................................................................................................19
Appendices........................................................................................................................23

4TECHNOLOGY INNOVATION IN ACCOUNTING
1. The Research Problem
Accounting field is observed to be dynamic as well as wide in itself in a way that the
management is to be taken care in a better manner. In order to make it appear highly simple
innovative methodology is deemed to be controversial (Askarany 2015). In contrast, as it turned
out to be convivial in one hand and at the same time it has certain drawbacks on the other hand.
The drawback can be in the form of incompatible workforce or accountants for using the
software based advanced accounting. Conversely, in manual accounting processes, software
stores all distinct heads within the same file (Zhang and Wang 2015). For this reason, its safe
storage acts as a security challenge. These serve as the major issues at the time of implementing
innovations within business. The major objective of the current study is to deal with the
identified research problem in order to implementing certain effective solutions.
For addressing the recognized research problem and in order to decrease the negative
impacts over positive for increased efficiency. In situations where, technological innovations
take place at an alarming speed is important to analyse the impacts of accounting profession in
an identical manner as it has affected every factor related with daily life of humanity (Zhang and
Wang 2015). Technological changes within the accounting is transformed within something that
is more than simple recording, recording, summer sizing of the necessary of transactions
extending all over the company. Within the profession of accounting, technology has attained its
importance within the ascent of accounting consultancy. Certain impacts on the accounting
professionals might take place from the result of IT innovations. The advances within
communication along with revolution within information has resulted in setting landmarks
within the accounting profession (Zhang and Wang 2015).

5TECHNOLOGY INNOVATION IN ACCOUNTING
In order to make the accounting innovation highly effective for any organizational
business the following research questions:
 Is the selected accounting software considered helpful for business?
 What are the effects of innovation within business accounting?
 In such case are the employee effective enough to employ such application?
 As the virtual and automated accounting system are the really safe and enough secured?
2. Research Background
In the field of accounting, the busineses all over the world has gone through drastic
technological innovations. Moreover, this has also resulted in changes within the company’s
internal processes (Becker, Wald, Gessner and Gleich 2015). It can also be considered that in
certain accounting conducts within the organizations has turned out to be competitive with the
use of efficient technological resources as such investments within technological infrastructure is
deemed to support the organizational performance as well as its current and future decisions.
Within the profession of accounting, technology has attained its importance within the ascent of
accounting consultancy (Becker, Wald, Gessner and Gleich 2015). Certain impacts on the
accounting professionals might take place from the result of IT innovations. The advances within
communication along with revolution within information has resulted in setting landmarks
within the accounting profession. Due to increased advances in technology the advent of internet
use stands out that offers necessary information regarding monitoring along with virtual
transformation (Becker, Wald, Gessner and Gleich 2015). The integrated use in the network
computers along with internet have resulted in new information era. Due to certain technological
changes, the accounting companies requires to heed and remain prepared for such improvement