The Impact of Technology on the Account Industry Operations and Professionals
VerifiedAdded on 2023/03/29
|23
|4181
|104
AI Summary
This study investigates the impact of technology on the account industry operations and professionals. It explores the advantages and disadvantages of technological innovations in accounting and how technology is transforming the accounting profession. The research aims to provide insights into the importance of technology in accounting and its effects on the accounts department staff.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running Head: THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY
OPERATIONS AND PROFESSIONALS
The Impact of Technology on the Account Industry Operations and Professionals
Name:
Academic Affiliation:
Date:
OPERATIONS AND PROFESSIONALS
The Impact of Technology on the Account Industry Operations and Professionals
Name:
Academic Affiliation:
Date:
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 2
Table of Contents
1.0 Introduction................................................................................................................................4
2.0 Problem statement.....................................................................................................................4
3.0 Aim and objectives....................................................................................................................5
4.0 Justification and potential output of the research......................................................................6
5.0 Conceptual framework and hypothesis development................................................................6
5.2 Influence of information technology on accounting..............................................................7
5.3 Accounting information systems...........................................................................................8
5.4 Evolving Technologies..........................................................................................................9
5.5 Advantages and Disadvantages of technological innovations in accounting......................10
5.6 Technological innovation in accounting management practices.........................................11
5.7 Technological effects on the accounting firms....................................................................11
5.9 Hypothesis development......................................................................................................12
6.0 Methodology............................................................................................................................13
6.1 Research approach and sources of data................................................................................13
6.2 Proposed data collection and analysis techniques................................................................14
Population, sample size, sampling procedure............................................................................14
6.3 Organization of the study.....................................................................................................15
PROFESSIONALS 2
Table of Contents
1.0 Introduction................................................................................................................................4
2.0 Problem statement.....................................................................................................................4
3.0 Aim and objectives....................................................................................................................5
4.0 Justification and potential output of the research......................................................................6
5.0 Conceptual framework and hypothesis development................................................................6
5.2 Influence of information technology on accounting..............................................................7
5.3 Accounting information systems...........................................................................................8
5.4 Evolving Technologies..........................................................................................................9
5.5 Advantages and Disadvantages of technological innovations in accounting......................10
5.6 Technological innovation in accounting management practices.........................................11
5.7 Technological effects on the accounting firms....................................................................11
5.9 Hypothesis development......................................................................................................12
6.0 Methodology............................................................................................................................13
6.1 Research approach and sources of data................................................................................13
6.2 Proposed data collection and analysis techniques................................................................14
Population, sample size, sampling procedure............................................................................14
6.3 Organization of the study.....................................................................................................15
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 3
6.4 Gantt chart, Project budget, and budget justification...........................................................17
Gantt chart..............................................................................................................................17
Project budget.........................................................................................................................19
7.0 References................................................................................................................................20
PROFESSIONALS 3
6.4 Gantt chart, Project budget, and budget justification...........................................................17
Gantt chart..............................................................................................................................17
Project budget.........................................................................................................................19
7.0 References................................................................................................................................20
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 4
1.0 Introduction
Over the past two decades, society has experienced dramatic technological advancements
that have affected numerous sectors. Thus companies need to acquire various administrative
services and systems to control activities in real time. The technological transformation has also
affected the accounting firms' internal process. It is quite evidential that computers systems and
machines have replaced some of the human actions that have greatly enhanced the productivity
and effectiveness of the organisations, thus it’s quite difficult for current organizations to remain
competitive without technological resources. Rich conducted by Zhu, Zhang, Li, Sun, and
Robison, (2017) shows that numerous jobs are at great risk of being digitalized within a nest two
decades, and this will drastically change the market requirements of companies in order to adjust
to the business surrounding.
According to Handoyo & Anas, (2019) in the accounting occupation has also been one of
the industries that digitalization is expected to grow enormously. The application of technology
has created the need to broaden education as well as the ascent of accounting consultancy, while
other impacts may also exist as the outcome of the IT evolution. However, the evolution may not
have fully and extensively evaluated, thus forming the current question: what are the impacts of
new technology on accounting and effect on the public accounting profession?
2.0 Problem statement
The technological advancement over the past decades especially on the communication
and information have greatly placed a landmark for the accounting professions that had remained
PROFESSIONALS 4
1.0 Introduction
Over the past two decades, society has experienced dramatic technological advancements
that have affected numerous sectors. Thus companies need to acquire various administrative
services and systems to control activities in real time. The technological transformation has also
affected the accounting firms' internal process. It is quite evidential that computers systems and
machines have replaced some of the human actions that have greatly enhanced the productivity
and effectiveness of the organisations, thus it’s quite difficult for current organizations to remain
competitive without technological resources. Rich conducted by Zhu, Zhang, Li, Sun, and
Robison, (2017) shows that numerous jobs are at great risk of being digitalized within a nest two
decades, and this will drastically change the market requirements of companies in order to adjust
to the business surrounding.
According to Handoyo & Anas, (2019) in the accounting occupation has also been one of
the industries that digitalization is expected to grow enormously. The application of technology
has created the need to broaden education as well as the ascent of accounting consultancy, while
other impacts may also exist as the outcome of the IT evolution. However, the evolution may not
have fully and extensively evaluated, thus forming the current question: what are the impacts of
new technology on accounting and effect on the public accounting profession?
2.0 Problem statement
The technological advancement over the past decades especially on the communication
and information have greatly placed a landmark for the accounting professions that had remained
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 5
stagnant for quite a long period of time as a result of inadequate information exchange among the
users. Among the advancements, internet usage stands out as the most significant as it allows
information control and virtual transmission, also the application of the Public Fiscal
Bookkeeping System (SPED) has enabled the standardization of the fiscal obligations.
According to Taipaleenmäki and Ikäheimo, (2013) SPED has simplified the “taxpayers”
additional obligations, however has not extensively achieved satisfactory results in regards to
productivity and agility since it requires high implementation cost. It is evidential that inflation
technology is continuously transforming the accounting activity with time, thus any ineffective
operation of the systems might results in a large loss of money to numerous companies.
Going through the books in the library it’s quite difficult to late books that have
exemplary covered the digitalization’s impact on the accounting industry, thus creating an
interesting area to conduct a research. Secondly, due to the rising application of technological
advancements in various files, it is quite imperative for the business organizations, accounting
professional and any other related stakeholders to fully understand and be prepared in the
technical changes regarding the SPED especially on the digital bookkeeping, which forms the
accounting pillar of the SPED.
3.0 Aim and objectives
The current study proposes to investigate the importance of technology on the accounting
and accounting professionals. Thus the paper will prove various technologies advancement
system and positive and negative impacts of the technological elements in an organization as
well as on the accounting professionals.
Research question
PROFESSIONALS 5
stagnant for quite a long period of time as a result of inadequate information exchange among the
users. Among the advancements, internet usage stands out as the most significant as it allows
information control and virtual transmission, also the application of the Public Fiscal
Bookkeeping System (SPED) has enabled the standardization of the fiscal obligations.
According to Taipaleenmäki and Ikäheimo, (2013) SPED has simplified the “taxpayers”
additional obligations, however has not extensively achieved satisfactory results in regards to
productivity and agility since it requires high implementation cost. It is evidential that inflation
technology is continuously transforming the accounting activity with time, thus any ineffective
operation of the systems might results in a large loss of money to numerous companies.
Going through the books in the library it’s quite difficult to late books that have
exemplary covered the digitalization’s impact on the accounting industry, thus creating an
interesting area to conduct a research. Secondly, due to the rising application of technological
advancements in various files, it is quite imperative for the business organizations, accounting
professional and any other related stakeholders to fully understand and be prepared in the
technical changes regarding the SPED especially on the digital bookkeeping, which forms the
accounting pillar of the SPED.
3.0 Aim and objectives
The current study proposes to investigate the importance of technology on the accounting
and accounting professionals. Thus the paper will prove various technologies advancement
system and positive and negative impacts of the technological elements in an organization as
well as on the accounting professionals.
Research question
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 6
The current paper will focus on answering the following research questions:
a) What is Accounting information technology innovation?
b) What are the impacts of technology on accounting operations?
c) What are the impacts of technology on the accounts department staffs?
4.0 Justification and potential output of the research
Technological advancement is inevitable in the current century since it directly impacts
every aspect of life as well as organizations. Since organizations depend on profitability,
accountability, and transparency to attain competitive advantages, ignoring technology in the
accounts department will eventually create an amenity in organizations (Handoyo & Anas,
2019). Thus accounts at the need to adapt and change their way of thinking to adopt digital
bookkeeping to manage potential profits as well as enable the evolution of accountants from the
simple compiler and posters to specialized people that offer professional services beyond simple
financial analysis.
The current paper thus will benefit a large number of accountants and accounting first
who would like to comprehend the control of technology on their daily accounting operations. IT
managers, as well as professional accountants, imperatively need a sound understanding of the
business operations IT can impact and the relationship between the IT with the profitability of
the organization.
5.0 Conceptual framework and hypothesis development
Accounting refers to the system used by companies in measuring the financial
functioning through observing and categorizing all the operations such as sales, property,
PROFESSIONALS 6
The current paper will focus on answering the following research questions:
a) What is Accounting information technology innovation?
b) What are the impacts of technology on accounting operations?
c) What are the impacts of technology on the accounts department staffs?
4.0 Justification and potential output of the research
Technological advancement is inevitable in the current century since it directly impacts
every aspect of life as well as organizations. Since organizations depend on profitability,
accountability, and transparency to attain competitive advantages, ignoring technology in the
accounts department will eventually create an amenity in organizations (Handoyo & Anas,
2019). Thus accounts at the need to adapt and change their way of thinking to adopt digital
bookkeeping to manage potential profits as well as enable the evolution of accountants from the
simple compiler and posters to specialized people that offer professional services beyond simple
financial analysis.
The current paper thus will benefit a large number of accountants and accounting first
who would like to comprehend the control of technology on their daily accounting operations. IT
managers, as well as professional accountants, imperatively need a sound understanding of the
business operations IT can impact and the relationship between the IT with the profitability of
the organization.
5.0 Conceptual framework and hypothesis development
Accounting refers to the system used by companies in measuring the financial
functioning through observing and categorizing all the operations such as sales, property,
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 7
liabilities, and purchases in a way that aligns to the particular acknowledged typical layouts.
Accounting system enables organizations to evaluate past, present and future prospects to
ascertain competitive advantage and sustainability in the market.
5.1 Accounting across the ages
Accounting dates back during the invention of the abacus that was used to keep and track
business transactions. After some period of time, during the 19th-century calculations was
invented to enhance the accuracy of the information in the business calculation as well as speed
up the accountant jobs (Caria & Rodrigues, 2013). However, still, the accountant has to depend
on the paper entry system for effecting communication of the financial information.
By the end of the 20th century, the introduction of computers led to a new look of the
accounting profession (Adamo, Alexander, & Fasiello, 2019). The application of computer
software such as Microsoft excel and electronic spreadsheet, eliminated calculates and ledgers
reducing the workload, increasing the efficiency and effectiveness. In the analog accounting
system, the information would be collected and analyzed through an offline computerized system
that made the process to be complex with respect to time and energy. The introduction of the first
computers in 1980s has enabled the introduction of computerized programs and software that
enhance technological informational analysis (Felten, 2015).
5.2 Influence of information technology on accounting
Information technology comprises numerous aspects such as computers, the internet,
personal digital services and wireless, all that has transformed the company’s operations
(Bredmar, 2014). Different companies tend to choose different accounting systems and software
PROFESSIONALS 7
liabilities, and purchases in a way that aligns to the particular acknowledged typical layouts.
Accounting system enables organizations to evaluate past, present and future prospects to
ascertain competitive advantage and sustainability in the market.
5.1 Accounting across the ages
Accounting dates back during the invention of the abacus that was used to keep and track
business transactions. After some period of time, during the 19th-century calculations was
invented to enhance the accuracy of the information in the business calculation as well as speed
up the accountant jobs (Caria & Rodrigues, 2013). However, still, the accountant has to depend
on the paper entry system for effecting communication of the financial information.
By the end of the 20th century, the introduction of computers led to a new look of the
accounting profession (Adamo, Alexander, & Fasiello, 2019). The application of computer
software such as Microsoft excel and electronic spreadsheet, eliminated calculates and ledgers
reducing the workload, increasing the efficiency and effectiveness. In the analog accounting
system, the information would be collected and analyzed through an offline computerized system
that made the process to be complex with respect to time and energy. The introduction of the first
computers in 1980s has enabled the introduction of computerized programs and software that
enhance technological informational analysis (Felten, 2015).
5.2 Influence of information technology on accounting
Information technology comprises numerous aspects such as computers, the internet,
personal digital services and wireless, all that has transformed the company’s operations
(Bredmar, 2014). Different companies tend to choose different accounting systems and software
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 8
that suits their operations, for example, big companies may choose wide-software systems such
as resource planning system to computerize their accounting.
5.3 Accounting information systems
Information refers to the collection of interrelated subsystems that work as one to gather,
process, store, transform and distributes information to effective operational planning and quick
decision making (Liu, 2012). The accounting information system was incorporated in the
information and technology to enhance the process of gathering reliable financial information
that is critical for the decision-making process.
Computerized accounting system enables companies to easily track their records and
effectively manage all the transactions (Elekwa & Eme, 2013). The computerized accounting
system is the advancement of the paper ledger manual and the handwritten financial statement
that can now be electronically priced as one report. The computerized accounting system has
numerous advantages, such as:
a) Increased functionality-The application of the electronic financial management system
has enhanced the functionality of the Accounts department of numerous organizations
(Cullinan & Zheng, 2015). Through the enhanced timelines, the accountants have the
capability to prepare reports and extract operation analysis of the current operations
through the production of different information such as cash circulation accounts, unit
profit and loss statements, market segment among many others. These reports are
essential in the decision-making process and strategic planning of the organization.
b) Improved accuracy of the reports-The application of the high-tech financial
management system has improved the accuracy of the reports due to the availability of
PROFESSIONALS 8
that suits their operations, for example, big companies may choose wide-software systems such
as resource planning system to computerize their accounting.
5.3 Accounting information systems
Information refers to the collection of interrelated subsystems that work as one to gather,
process, store, transform and distributes information to effective operational planning and quick
decision making (Liu, 2012). The accounting information system was incorporated in the
information and technology to enhance the process of gathering reliable financial information
that is critical for the decision-making process.
Computerized accounting system enables companies to easily track their records and
effectively manage all the transactions (Elekwa & Eme, 2013). The computerized accounting
system is the advancement of the paper ledger manual and the handwritten financial statement
that can now be electronically priced as one report. The computerized accounting system has
numerous advantages, such as:
a) Increased functionality-The application of the electronic financial management system
has enhanced the functionality of the Accounts department of numerous organizations
(Cullinan & Zheng, 2015). Through the enhanced timelines, the accountants have the
capability to prepare reports and extract operation analysis of the current operations
through the production of different information such as cash circulation accounts, unit
profit and loss statements, market segment among many others. These reports are
essential in the decision-making process and strategic planning of the organization.
b) Improved accuracy of the reports-The application of the high-tech financial
management system has improved the accuracy of the reports due to the availability of
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 9
the interior payment and balance procedures that countercheck the money-movements
and make appropriate accounting balance before the production of the final financial
statement. Additionally, the computerized systems do not allow the entries of the journal
that might be out of equilibrium during the placement thus ensure that individual money
exchanges are accurate.
c) Faster processing rate-The computerized accounting systems have high processing rate
that can handle large financial information and quickly process the required analysis
through the accounting systems. This has considerably lessened the amount of time and
energy used in the accounts department resulting in labor-intensive as well as reduced
operations cost.
5.4 Evolving Technologies
Artificial Intelligence (AI)-AI denotes to the machines that undertake tasks that require
a high level of intelligence such as knowing, sensing, reasoning and creating. The recent
technological advancement on AI has resulted in the creation of the algorithms learns that enable
the machines to learn the statistical analysis of a large amount of data rather than through the
explicit programming (Mulgan, 2018). Through the application of the artificial intelligence,
accountants will be able to provide good advice to organizations to solve problems as well as
induce investors’ conference on the financial status of various organizations. The machine
learning enables the accountant to use coded accounting entries that improve the efficiency and
rules resulting in an automated process. Additionally, machine learning is able to predict and
forecast revenue collection thus provides a good basis of decision making regarding the
production quantity.
PROFESSIONALS 9
the interior payment and balance procedures that countercheck the money-movements
and make appropriate accounting balance before the production of the final financial
statement. Additionally, the computerized systems do not allow the entries of the journal
that might be out of equilibrium during the placement thus ensure that individual money
exchanges are accurate.
c) Faster processing rate-The computerized accounting systems have high processing rate
that can handle large financial information and quickly process the required analysis
through the accounting systems. This has considerably lessened the amount of time and
energy used in the accounts department resulting in labor-intensive as well as reduced
operations cost.
5.4 Evolving Technologies
Artificial Intelligence (AI)-AI denotes to the machines that undertake tasks that require
a high level of intelligence such as knowing, sensing, reasoning and creating. The recent
technological advancement on AI has resulted in the creation of the algorithms learns that enable
the machines to learn the statistical analysis of a large amount of data rather than through the
explicit programming (Mulgan, 2018). Through the application of the artificial intelligence,
accountants will be able to provide good advice to organizations to solve problems as well as
induce investors’ conference on the financial status of various organizations. The machine
learning enables the accountant to use coded accounting entries that improve the efficiency and
rules resulting in an automated process. Additionally, machine learning is able to predict and
forecast revenue collection thus provides a good basis of decision making regarding the
production quantity.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 10
5.5 Advantages and Disadvantages of technological innovations in accounting
Technological novelty has greatly altered the accounting activities as well as the roles
such as the creation of an accounting adviser. The accounting firm that moved into the eighteenth
ages of the 21st era has the advanced and deepest information of accountancy as a result of the
automation of the process (Huber, 2016). Below are some of the benefits that technology is
contributing to technological innovation in the accounting industry:
a) Cloud computing – cloud computing enables computers to collect dispensation
resources and information through the application of internet thus breaking the office
walls and create a virtual office (Bechtel, 2013). Through this, accountants are able to
complete these tasks in any location rather than being restricted in one place.
b) Enterprise resource planning- ERP is a term used to refer to a wide range of computers
software and hardeners that enhance the incorporation of departments in an organization (
Mapero, 2019). Through the use of the ERP, human resource management is able to
cooperate with the accountants to determine the pay roles and the salary stability of an
organization.
c) Forensic accounting – Refers to the concept of investigating fiscal transactions that are
perceived to be criminal. Forensic accountants are able to use technology to determine
illegitimate transactions in organizations thus reduce corruption and embezzlement of
funds.
On the other hand, the final results obtained from the technological systems majorly
depend on the accuracy of the inputs, thus when facts are insufficiently explored for correctness,
and then the extracted facts will results into fallacy (Hasso & Duncan, 2013). Secondly,
PROFESSIONALS 10
5.5 Advantages and Disadvantages of technological innovations in accounting
Technological novelty has greatly altered the accounting activities as well as the roles
such as the creation of an accounting adviser. The accounting firm that moved into the eighteenth
ages of the 21st era has the advanced and deepest information of accountancy as a result of the
automation of the process (Huber, 2016). Below are some of the benefits that technology is
contributing to technological innovation in the accounting industry:
a) Cloud computing – cloud computing enables computers to collect dispensation
resources and information through the application of internet thus breaking the office
walls and create a virtual office (Bechtel, 2013). Through this, accountants are able to
complete these tasks in any location rather than being restricted in one place.
b) Enterprise resource planning- ERP is a term used to refer to a wide range of computers
software and hardeners that enhance the incorporation of departments in an organization (
Mapero, 2019). Through the use of the ERP, human resource management is able to
cooperate with the accountants to determine the pay roles and the salary stability of an
organization.
c) Forensic accounting – Refers to the concept of investigating fiscal transactions that are
perceived to be criminal. Forensic accountants are able to use technology to determine
illegitimate transactions in organizations thus reduce corruption and embezzlement of
funds.
On the other hand, the final results obtained from the technological systems majorly
depend on the accuracy of the inputs, thus when facts are insufficiently explored for correctness,
and then the extracted facts will results into fallacy (Hasso & Duncan, 2013). Secondly,
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 11
numerous accounting software need personalization to meet the organization's objectives and
necessities.
5.6 Technological innovation in accounting management practices
The encroachment of new technologies results in the creation of organizational structure
changes as well as the reorganization of the production and operational process that determine
the competitiveness of the coordination in the market (Taipaleenmäki, & Ikäheimo, 2013).
Technology has resulted in great agility and productivity in most of the accounting firms and
activities, since it has eased the decision-making process, enhance services provisions, among
other actions. However, according to some scholars, perceive new technologies to possess a
neutral impact on accounting while others observe negative effects. Ilić and Anđelić, (2017)
states that one of the major technological limitations is the overdependence on human resources
since it is the product of human creativity thus repeats human errors. When human errors are
linked to technology tends to be very destructive and expensive.
5.7 Technological effects on the accounting firms
In respect to the accounting operations, technological advancement especially the IT is a
significant aspect in the management process as well as the accounting activities of the
respective firms. Thornburg & Roberts, (2013) expresses that IT have a great impact on the
knowledge management process that directly interlinks. The most common highlight IT aspect
on the accounting context is the capability of the computerized accounting system to increase the
speed of processing as well as efficiency that eventually offered the organization a better
competitive advantage. Rahman, Hassan and Said, (2015) states that a competitive environment
requires organization with improved accounting system enhance customer’s value creation as
well as distinguish themselves from the potential computers through a well-defined business
PROFESSIONALS 11
numerous accounting software need personalization to meet the organization's objectives and
necessities.
5.6 Technological innovation in accounting management practices
The encroachment of new technologies results in the creation of organizational structure
changes as well as the reorganization of the production and operational process that determine
the competitiveness of the coordination in the market (Taipaleenmäki, & Ikäheimo, 2013).
Technology has resulted in great agility and productivity in most of the accounting firms and
activities, since it has eased the decision-making process, enhance services provisions, among
other actions. However, according to some scholars, perceive new technologies to possess a
neutral impact on accounting while others observe negative effects. Ilić and Anđelić, (2017)
states that one of the major technological limitations is the overdependence on human resources
since it is the product of human creativity thus repeats human errors. When human errors are
linked to technology tends to be very destructive and expensive.
5.7 Technological effects on the accounting firms
In respect to the accounting operations, technological advancement especially the IT is a
significant aspect in the management process as well as the accounting activities of the
respective firms. Thornburg & Roberts, (2013) expresses that IT have a great impact on the
knowledge management process that directly interlinks. The most common highlight IT aspect
on the accounting context is the capability of the computerized accounting system to increase the
speed of processing as well as efficiency that eventually offered the organization a better
competitive advantage. Rahman, Hassan and Said, (2015) states that a competitive environment
requires organization with improved accounting system enhance customer’s value creation as
well as distinguish themselves from the potential computers through a well-defined business
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 12
strategy. Thus the strategy should be supported by other factors such the accounting systems, and
organizational design among others.
5.8 Accounting information system model
Figure 1 shows a simple accounting information system model that is applicable to all
information systems irrespective of the technical design. The pattern contains the following
fundamentals: users, facts gathering, facts management, fact analysis, facts production, data
source, and feedback (Liu, 2012). At the first stage, data from either internal or external sources
is collected and entered through confirming the validity and to enhance relevance and efficiency.
the fed data as then stored in the database and processed through by the algorithm and
accounting statistical tools to generate information that is forwarded to the external users.
5.9 Hypothesis development
Hypothesis 1 Ho: High-tech financial management does not have direct influence on the
accounting management practices of organizations
H1: High-tech financial management has a direct influence on the accounting
management practices of organizations
Hypothesis 2 Ho: Information Technology systems does not have a direct influence on the
productivity of the accounts department and professionals.
H1: Information Technology systems have a direct influence on the productivity
of the accounts department and professionals.
PROFESSIONALS 12
strategy. Thus the strategy should be supported by other factors such the accounting systems, and
organizational design among others.
5.8 Accounting information system model
Figure 1 shows a simple accounting information system model that is applicable to all
information systems irrespective of the technical design. The pattern contains the following
fundamentals: users, facts gathering, facts management, fact analysis, facts production, data
source, and feedback (Liu, 2012). At the first stage, data from either internal or external sources
is collected and entered through confirming the validity and to enhance relevance and efficiency.
the fed data as then stored in the database and processed through by the algorithm and
accounting statistical tools to generate information that is forwarded to the external users.
5.9 Hypothesis development
Hypothesis 1 Ho: High-tech financial management does not have direct influence on the
accounting management practices of organizations
H1: High-tech financial management has a direct influence on the accounting
management practices of organizations
Hypothesis 2 Ho: Information Technology systems does not have a direct influence on the
productivity of the accounts department and professionals.
H1: Information Technology systems have a direct influence on the productivity
of the accounts department and professionals.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 13
Figure 1: Shows accounting information system model, obtained from (Liu, 2012).
6.0 Methodology
6.1 Research approach and sources of data
According to Mondal and Mondal, (2018) the main investigation methods are
quantitative and qualitative and the choice of approach depends on investigative questions and
goals. Since the intention of the current study is to investigate the significance of technology in
the accounting industry, the investigators thus choose a mixed methodology to enhance extensive
perception of the topic. The mixed methodology entails both qualitative and quantitative research
approaches; the qualitative will provide a improved comprehension of the evolution of
technology on the accounting as well as the influence of high-techs on the financial management
systems (Fletcher, 2016).Conversely, the quantitative study method will enable the investigators
to collect numerical data on the impact of technology on the financial management systems in
the identified organizations.
PROFESSIONALS 13
Figure 1: Shows accounting information system model, obtained from (Liu, 2012).
6.0 Methodology
6.1 Research approach and sources of data
According to Mondal and Mondal, (2018) the main investigation methods are
quantitative and qualitative and the choice of approach depends on investigative questions and
goals. Since the intention of the current study is to investigate the significance of technology in
the accounting industry, the investigators thus choose a mixed methodology to enhance extensive
perception of the topic. The mixed methodology entails both qualitative and quantitative research
approaches; the qualitative will provide a improved comprehension of the evolution of
technology on the accounting as well as the influence of high-techs on the financial management
systems (Fletcher, 2016).Conversely, the quantitative study method will enable the investigators
to collect numerical data on the impact of technology on the financial management systems in
the identified organizations.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 14
6.2 Proposed data collection and analysis techniques
Data collection denotes to the procedure of assembling facts to ascertain the hypothesis.
According to Omair, (2014) there are numerous techniques that are used in gathering information
during the research process, such as survey, experimental, interviews, case study among others.
Investigators thus will employ interview as the data collection technique for the current study.
Investigator will use an explanatory interview method that will be produced in pre-coded
questions to enhance speed and efficiency of the qualitative and quantitative data collection
process that will be either personal or telephone interview process depending on the geographical
distance of the participant (Byrne,2014).
Population, sample size, sampling procedure
The population of the current study will be all the accounting professional that will be
obtained from the Association of International Certified Professional Accountants database. The
sample size of the current study will be determined through the application of the Yamane’s
formula to n=N/ {1+N (e) 2}, that will give 250 participants since the number of the professional
accountants are more than 10,000. According to Omair, (2014) a sample size below 30% is quite
adopt for any kind of population that is above 10,000. The investigator wills employee a simple
random sampling method to offer each participant an equal opportunity to participate in the
study. All the participants thus will contain the flowing characteristics: Must have accounting
knowledge and experience nit less than five years, must have adequate knowledge on the
computerized accounting systems and must be supervisor, head of the accounts department an
accounting consultant.
Variables and Data Analysis
PROFESSIONALS 14
6.2 Proposed data collection and analysis techniques
Data collection denotes to the procedure of assembling facts to ascertain the hypothesis.
According to Omair, (2014) there are numerous techniques that are used in gathering information
during the research process, such as survey, experimental, interviews, case study among others.
Investigators thus will employ interview as the data collection technique for the current study.
Investigator will use an explanatory interview method that will be produced in pre-coded
questions to enhance speed and efficiency of the qualitative and quantitative data collection
process that will be either personal or telephone interview process depending on the geographical
distance of the participant (Byrne,2014).
Population, sample size, sampling procedure
The population of the current study will be all the accounting professional that will be
obtained from the Association of International Certified Professional Accountants database. The
sample size of the current study will be determined through the application of the Yamane’s
formula to n=N/ {1+N (e) 2}, that will give 250 participants since the number of the professional
accountants are more than 10,000. According to Omair, (2014) a sample size below 30% is quite
adopt for any kind of population that is above 10,000. The investigator wills employee a simple
random sampling method to offer each participant an equal opportunity to participate in the
study. All the participants thus will contain the flowing characteristics: Must have accounting
knowledge and experience nit less than five years, must have adequate knowledge on the
computerized accounting systems and must be supervisor, head of the accounts department an
accounting consultant.
Variables and Data Analysis
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 15
The aim of the current study is to explore the significance of technology on the
accounting system thus, the paper will strive to create the relationship between technical aspect
such as Information techno, Enterprise Resource Planning and other accounting software’s with
the productivity, efficiency or both organizations and the accounts department staffs. There, the
dependent variable will be the accounting information system and the independent variables will
be productivities and efficiency of the accounts department staffs.
Both quantitative and qualitative data will be collected, thus it will be significant for the
researcher to conduct data cleaning before the data are coded and analyzed. Cleaning will help to
eradicate unwanted data while coding will enhance data feeding into the analysis system the
investigator will employ Factor Analysis method that allows the correlations of variables. The
researcher will also apply computers systems such as SPSS for the quantitative data, while for
the qualitative data; the researcher will apply thematic analysis (Zhu,Zhang, Li,Sun, & Robison,
2017). Similar responses regarding the research questions will be grouped and frequency
distribution will be determined to obtain the thematic procedures that configure with the
investigations questions and objectives. Moreover, the inferential analysis will help the
investigator to define the connection between various technologies and accounting management
practices (Cuervo,Mudambi, Pedersen & Piscitello,2017). The obtained results will be exhibited
in terms of tables, charts and frequency tables for easy interpretation.
6.3 Organization of the study
Chapter one presents the introduction to the research topic, with details on the problem
statement, objectives and research questions.
Chapter two presents past works of the research topic by viewing various journals and
articles based on the research questions
PROFESSIONALS 15
The aim of the current study is to explore the significance of technology on the
accounting system thus, the paper will strive to create the relationship between technical aspect
such as Information techno, Enterprise Resource Planning and other accounting software’s with
the productivity, efficiency or both organizations and the accounts department staffs. There, the
dependent variable will be the accounting information system and the independent variables will
be productivities and efficiency of the accounts department staffs.
Both quantitative and qualitative data will be collected, thus it will be significant for the
researcher to conduct data cleaning before the data are coded and analyzed. Cleaning will help to
eradicate unwanted data while coding will enhance data feeding into the analysis system the
investigator will employ Factor Analysis method that allows the correlations of variables. The
researcher will also apply computers systems such as SPSS for the quantitative data, while for
the qualitative data; the researcher will apply thematic analysis (Zhu,Zhang, Li,Sun, & Robison,
2017). Similar responses regarding the research questions will be grouped and frequency
distribution will be determined to obtain the thematic procedures that configure with the
investigations questions and objectives. Moreover, the inferential analysis will help the
investigator to define the connection between various technologies and accounting management
practices (Cuervo,Mudambi, Pedersen & Piscitello,2017). The obtained results will be exhibited
in terms of tables, charts and frequency tables for easy interpretation.
6.3 Organization of the study
Chapter one presents the introduction to the research topic, with details on the problem
statement, objectives and research questions.
Chapter two presents past works of the research topic by viewing various journals and
articles based on the research questions
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 16
Chapter three presents the methodology that will be used to gather information in the
field concerning the research question. The chapter entails research purpose, strategy,
data collection tools, procedures, sample size and procedure, data collection tool
reliability and validity as well as the data analysis.
PROFESSIONALS 16
Chapter three presents the methodology that will be used to gather information in the
field concerning the research question. The chapter entails research purpose, strategy,
data collection tools, procedures, sample size and procedure, data collection tool
reliability and validity as well as the data analysis.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 17
6.4 Gantt chart, Project budget, and budget justification
Gantt chart
Activity 1st week 2nd week 3rd week 4th week 5th week 6th week 7th week 8th week 9th week
Research
proposal
Topic
suggestion
Writing of
the
Literature
Review of the
suggested
Topic, Aims
and
objectives
Secondary
Data
Collection
PROFESSIONALS 17
6.4 Gantt chart, Project budget, and budget justification
Gantt chart
Activity 1st week 2nd week 3rd week 4th week 5th week 6th week 7th week 8th week 9th week
Research
proposal
Topic
suggestion
Writing of
the
Literature
Review of the
suggested
Topic, Aims
and
objectives
Secondary
Data
Collection
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 18
Research
methodology:
Interviews
Analysis of
the gathered
information
Revising of
the full draft
of the
proposal
with all parts
included
Revision of
the draft
Production
of the final
proposal
Submit of the
final
proposal
PROFESSIONALS 18
Research
methodology:
Interviews
Analysis of
the gathered
information
Revising of
the full draft
of the
proposal
with all parts
included
Revision of
the draft
Production
of the final
proposal
Submit of the
final
proposal
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 19
Project budget
Activities Budget
1 Writing of the Literature Review $500
2 Data collection procedure : Interview $3,800
3 Data analysis $1,500
Total $5,800
The above is the suggested budget for the effective completion of the research project. The main
activities thus will be:
a) Reviewing of the past works in regard to the topic, this will require the investigators to
access books, journals, articles and other websites that contain the required information.
This will cost about $500 since most of them will be brought, and some will be hired as
well as a subscription fee on other websites.
b) Data collection in regard to the topic will be majorly interview process, that will require
to develop; meant of interview questions and forms, thus about $3,800 will be required to
produce the interview questionnaires as well as any other logistic activity.
c) Data analysis focuses on analyzing the collected information that will be both qualitative
and quantitative. Thus the investigator will need $ 1,500 to have the relevant data
analysis tools.
PROFESSIONALS 19
Project budget
Activities Budget
1 Writing of the Literature Review $500
2 Data collection procedure : Interview $3,800
3 Data analysis $1,500
Total $5,800
The above is the suggested budget for the effective completion of the research project. The main
activities thus will be:
a) Reviewing of the past works in regard to the topic, this will require the investigators to
access books, journals, articles and other websites that contain the required information.
This will cost about $500 since most of them will be brought, and some will be hired as
well as a subscription fee on other websites.
b) Data collection in regard to the topic will be majorly interview process, that will require
to develop; meant of interview questions and forms, thus about $3,800 will be required to
produce the interview questionnaires as well as any other logistic activity.
c) Data analysis focuses on analyzing the collected information that will be both qualitative
and quantitative. Thus the investigator will need $ 1,500 to have the relevant data
analysis tools.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 20
7.0 References
Adamo, S., Alexander, D., & Fasiello, R. (2019). Time and accounting in the Middle Ages: An
Italian-based analysis. Accounting History, 103237321983314. doi:
10.1177/1032373219833140
Bechtel, C. (2013). Cloud Computing and Forensic Accounting: Friends or Foes?. SSRN
Electronic Journal. doi: 10.2139/ssrn.2218697
Bredmar, K., (2014). Accounting Information Systems Implementation and Management
Accounting Change. Business Systems Research Journal, 5(2), 125-138. doi:
10.2478/bsrj-2014-0015
Byrne, M. (2014). Interviewing as a data collection method. AORN Journal, 74(2), 233-235. doi:
10.1016/s0001-2092(06)61533-0
Caria, A., & Rodrigues, L. (2013). The evolution of financial accounting in Portugal since the
1960s: A new institutional economics perspective. Accounting History, 19(1-2), 227-
254. doi: 10.1177/1032373213511319
Cuervo-Cazurra, A., Mudambi, R., Pedersen, T., & Piscitello, L. (2017). Research Methodology
in Global Strategy Research. Global Strategy Journal, 7(3), 233-240. doi:
10.1002/gsj.1164
Cullinan, C., & Zheng, X. (2015). Outsourcing accounting information systems: Evidence from
closed-end mutual fund families. International Journal Of Accounting Information
Systems, 17, 65-83. doi: 10.1016/j.accinf.2014.06.004
PROFESSIONALS 20
7.0 References
Adamo, S., Alexander, D., & Fasiello, R. (2019). Time and accounting in the Middle Ages: An
Italian-based analysis. Accounting History, 103237321983314. doi:
10.1177/1032373219833140
Bechtel, C. (2013). Cloud Computing and Forensic Accounting: Friends or Foes?. SSRN
Electronic Journal. doi: 10.2139/ssrn.2218697
Bredmar, K., (2014). Accounting Information Systems Implementation and Management
Accounting Change. Business Systems Research Journal, 5(2), 125-138. doi:
10.2478/bsrj-2014-0015
Byrne, M. (2014). Interviewing as a data collection method. AORN Journal, 74(2), 233-235. doi:
10.1016/s0001-2092(06)61533-0
Caria, A., & Rodrigues, L. (2013). The evolution of financial accounting in Portugal since the
1960s: A new institutional economics perspective. Accounting History, 19(1-2), 227-
254. doi: 10.1177/1032373213511319
Cuervo-Cazurra, A., Mudambi, R., Pedersen, T., & Piscitello, L. (2017). Research Methodology
in Global Strategy Research. Global Strategy Journal, 7(3), 233-240. doi:
10.1002/gsj.1164
Cullinan, C., & Zheng, X. (2015). Outsourcing accounting information systems: Evidence from
closed-end mutual fund families. International Journal Of Accounting Information
Systems, 17, 65-83. doi: 10.1016/j.accinf.2014.06.004
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 21
Elekwa, N., & Eme, O. (2013). An Analysis of Computerized Accounting and Payrolling System
on Monthly Emolument in Nigerian Local Government. International Journal Of
Accounting Research, 1(3), 16-28. doi: 10.12816/0001135
Felten, S. (2015). Accounting evolution to 1400: how to explain the emergence of new
accounting techniques?. Accounting History Review, 25(2), 167-171. doi:
10.1080/21552851.2015.1052194
Fletcher, A. (2016). Applying critical realism in qualitative research: methodology meets
method. International Journal Of Social Research Methodology, 20(2), 181-194. doi:
10.1080/13645579.2016.1144401
Handoyo, S., & Anas, S. (2019). Accounting Education Challenges in the New Millennium Era:
Impact of Advanced of Technology and Dynamic Business Environment. Journal Of
Accounting Auditing And Business, 2(1), 25. doi: 10.24198/jaab.v2i1.20429
Hasso, T., & Duncan, K. (2013). Valuation of Family Firms: The Limitations of Accounting
Information. Australian Accounting Review, 23(2), 135-150. doi: 10.1111/j.1835-
2561.2013.00202.x
Huber, W. (2016). Deep impact: impact factors and accounting research. International Journal
Of Critical Accounting, 8(1), 56. doi: 10.1504/ijca.2016.076084
Ilić, M., & Anđelić, S. (2017). The role of computerized accounting information system in
detecting accounting errors and accounting fraud. Bizinfo Blace, 8(2), 17-30. doi:
10.5937/bizinfo1701017i
PROFESSIONALS 21
Elekwa, N., & Eme, O. (2013). An Analysis of Computerized Accounting and Payrolling System
on Monthly Emolument in Nigerian Local Government. International Journal Of
Accounting Research, 1(3), 16-28. doi: 10.12816/0001135
Felten, S. (2015). Accounting evolution to 1400: how to explain the emergence of new
accounting techniques?. Accounting History Review, 25(2), 167-171. doi:
10.1080/21552851.2015.1052194
Fletcher, A. (2016). Applying critical realism in qualitative research: methodology meets
method. International Journal Of Social Research Methodology, 20(2), 181-194. doi:
10.1080/13645579.2016.1144401
Handoyo, S., & Anas, S. (2019). Accounting Education Challenges in the New Millennium Era:
Impact of Advanced of Technology and Dynamic Business Environment. Journal Of
Accounting Auditing And Business, 2(1), 25. doi: 10.24198/jaab.v2i1.20429
Hasso, T., & Duncan, K. (2013). Valuation of Family Firms: The Limitations of Accounting
Information. Australian Accounting Review, 23(2), 135-150. doi: 10.1111/j.1835-
2561.2013.00202.x
Huber, W. (2016). Deep impact: impact factors and accounting research. International Journal
Of Critical Accounting, 8(1), 56. doi: 10.1504/ijca.2016.076084
Ilić, M., & Anđelić, S. (2017). The role of computerized accounting information system in
detecting accounting errors and accounting fraud. Bizinfo Blace, 8(2), 17-30. doi:
10.5937/bizinfo1701017i
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 22
Liu, L. (2012). The Building of Accounting Information System Based on REA
Model. Advanced Materials Research, 490-495, 1456-1460. doi:
10.4028/www.scientific.net/amr.490-495.1456
Mapero, I. (2019). Impact of Enterprise Resource Planning (Erp) on Internal Audit
Functions. Research Journal Of Finance And Accounting. doi: 10.7176/rjfa/10-9-05
Mondal, P., & Mondal, S. (2018). Quantitative and qualitative research: a mixed method
approach in educational science. International Journal Of Technical Research &
Science, 3(VII). doi: 10.30780/ijtrs.v3.i7.2018.010
Mulgan, G. (2018). Artificial intelligence and collective intelligence: the emergence of a
new field. AI & SOCIETY, 33(4), 631-632. doi: 10.1007/s00146-018-0861-5
Omair, A. (2014). Sample size estimation and sampling techniques for selecting a representative
sample. Journal Of Health Specialties, 2(4), 142. doi: 10.4103/1658-600x.142783
Rahman, N., Hassan, S., & Said, J. (2015). Promoting Sustainability of Microfinance via
Innovation Risks, Best Practices and Management Accounting Practices. Procedia
Economics And Finance, 31, 470-484. doi: 10.1016/s2212-5671(15)01180-6
Taipaleenmäki, J., & Ikäheimo, S. (2013). On the convergence of management accounting and
financial accounting – the role of information technology in accounting
change. International Journal Of Accounting Information Systems, 14(4), 321-348. doi:
10.1016/j.accinf.2013.09.003
PROFESSIONALS 22
Liu, L. (2012). The Building of Accounting Information System Based on REA
Model. Advanced Materials Research, 490-495, 1456-1460. doi:
10.4028/www.scientific.net/amr.490-495.1456
Mapero, I. (2019). Impact of Enterprise Resource Planning (Erp) on Internal Audit
Functions. Research Journal Of Finance And Accounting. doi: 10.7176/rjfa/10-9-05
Mondal, P., & Mondal, S. (2018). Quantitative and qualitative research: a mixed method
approach in educational science. International Journal Of Technical Research &
Science, 3(VII). doi: 10.30780/ijtrs.v3.i7.2018.010
Mulgan, G. (2018). Artificial intelligence and collective intelligence: the emergence of a
new field. AI & SOCIETY, 33(4), 631-632. doi: 10.1007/s00146-018-0861-5
Omair, A. (2014). Sample size estimation and sampling techniques for selecting a representative
sample. Journal Of Health Specialties, 2(4), 142. doi: 10.4103/1658-600x.142783
Rahman, N., Hassan, S., & Said, J. (2015). Promoting Sustainability of Microfinance via
Innovation Risks, Best Practices and Management Accounting Practices. Procedia
Economics And Finance, 31, 470-484. doi: 10.1016/s2212-5671(15)01180-6
Taipaleenmäki, J., & Ikäheimo, S. (2013). On the convergence of management accounting and
financial accounting – the role of information technology in accounting
change. International Journal Of Accounting Information Systems, 14(4), 321-348. doi:
10.1016/j.accinf.2013.09.003
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
THE IMPACT OF TECHNOLOGY ON THE ACCOUNT INDUSTRY OPERATIONS AND
PROFESSIONALS 23
Thornburg, S., & Roberts, R. (2013). In whose interest? A critical examination of public interest
appeals made by the public accounting profession in the USA. International Journal Of
Critical Accounting, 5(1), 81. doi: 10.1504/ijca.2013.053356
Zhu, L., Zhang, Y., Li, Y., Sun, J., & Robison, L. (2017). A semiparametric likelihood-based
method for regression analysis of mixed panel-count data. Biometrics, 74(2), 488-497.
doi: 10.1111/biom.12774 Khan, A., Aboud, O., & Faisal, S. (2018). An Empirical Study
of Technological Innovations in the Field of Accounting - Boon or Bane. Business And
Management Studies, 4(1), 51. doi: 10.11114/bms.v4i1.3057
PROFESSIONALS 23
Thornburg, S., & Roberts, R. (2013). In whose interest? A critical examination of public interest
appeals made by the public accounting profession in the USA. International Journal Of
Critical Accounting, 5(1), 81. doi: 10.1504/ijca.2013.053356
Zhu, L., Zhang, Y., Li, Y., Sun, J., & Robison, L. (2017). A semiparametric likelihood-based
method for regression analysis of mixed panel-count data. Biometrics, 74(2), 488-497.
doi: 10.1111/biom.12774 Khan, A., Aboud, O., & Faisal, S. (2018). An Empirical Study
of Technological Innovations in the Field of Accounting - Boon or Bane. Business And
Management Studies, 4(1), 51. doi: 10.11114/bms.v4i1.3057
1 out of 23
Related Documents
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.