The Role of Technology in Accounting: Forecasting Future of Accounting Assessment

Role of Technology in Accounting: Forecasting Future of Accounting
Assessment: 1.2
2/1/2019

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Contents
Introduction......................................................................................................................................3
Research Aim and Objectives......................................................................................................3
Research Questions......................................................................................................................4
Critical literature review..................................................................................................................4
Methodology....................................................................................................................................7
Research philosophy....................................................................................................................7
Research design...........................................................................................................................8
Data collection methods..............................................................................................................8
Research strategy.........................................................................................................................9
Data analysis methodology..........................................................................................................9
Sampling method.......................................................................................................................10
Ethical consideration.................................................................................................................10
Findings and Analysis....................................................................................................................11
Article 1: How Technology Is Changing The Accounting And Bookkeeping Industry...........11
Article 2: Australia’s Digital Pulse............................................................................................12
Article 3: How is technology impacting the way accountants work?.......................................13
Discussion......................................................................................................................................14
Recommendations..........................................................................................................................16
Conclusion.....................................................................................................................................17

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References......................................................................................................................................18

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Introduction
In the present era, this has been found that use of the information system and technology is
increasing and along with this, it is highly contributing in the development and growth of every
possible sector which can think by any company. The aspects of the technology are increasing in
the field of accounting as well due to which the accounting information system has become the
integral part of the business which can be used by the organisation for the successful and well-
organized delivery of the accounts that are linked with the operations. This report is based on the
proposal that reflects the research on technology that supports the accounting system and
predicts the how technology can enhance the future of accounting system.
Further, the research will provide deep insight into the role of technology in accounting. This has
been found that cloud-based accounting, the system of ERP, AIS, big data analytics with the
different other reformative technologies that are developed to bring the improvement in
accounting. The reason behind selecting this topic for the research to understand the role of
technologies that are changing the accounting processes. The research report is prepared with the
aim to discuss the future of accounting in the dynamic and changing world. Thus, the research is
conducted with the aim to determine the role of the technology in accounting and for predicting
future technologies.
Research Aim and Objectives
The primary aim of the proposed work is to recognize the technologies that will drive the
accounting of the future. To attain the primary aim of the paper certain objectives, need to be
fulfilled that have been listed below along with the primary aim.

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RA: To identify the technologies that will drive the accounting of the future.
RO1: To determine whether technology is playing the role of enabler or is it challenging the
progress due to security, privacy, fraud and other threats.
RO2: To discuss the emerging technologies.
RO3: To identify the feasibility of identifies technologies in of accounting.
Research Questions
The research questions that will be answered in the proposed study are:
RQ1: Is the technology enabler for accounting or is it developing constraints that are restricting
the progress in accounting.
RQ2: What are the coming age technologies?
RQ3: What is the feasibility of emerging technologies in accounting environment?
Critical literature review
According to Abdallah, 2014, the technology has reflected the growth of the accounting system
through the innovative technologies has landed form the calculators of AI in the near future. In
the present business opportunities, there are different types of business software that are used by
the company in accounting which includes AI and cloud-based accounting system. The
technology involved in accounting has brought the changes in the face of the accounting sector
and makes the work or responsibility of the accountant much easier (Kokina & Davenport,
2017). The technology like cloud computing, Artificial intelligence, robotics and other system is
helping the accounting system through the inter-based computing by sharing, the data and the

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present resources that are linked with the network that permits the real-time data and information
exchange (Boritz & Stoner, 2014).
Agreeing to this Pasquarosa, 2016 stated that technology has a major and vital component in
book-keeping and accounting industry. The technology has the capability and ability to control
the cloud-based technology through different platforms which include Xero’s accounting
software. This technology has entirely transformed the company with the entire bookkeeping and
accounting industry.
According to Accounts legal, 2018, in the year 2018, it has become important for the company to
keep the development in the technology for the accountants who are performing the operations.
The technology like AI allows the accounting professional to get extremely accurate results
which are only possible with the support of the humans. Considering the views of the (Arteaga,
2018) the development in the technology is changing the pace of the accounting and with this, it
is making the accountant work simple. The artificial intelligence is one of the technologies which
is widespread in the accounting and business due to which the accountants also make use of this
technology for getting effective results. This technology assists the accountant to estimate
effective intelligent automation that is required to offer more value with the focus on the
forward-looking analysis. Further, the author-researcher shows that in the near future the use of
the artificial intelligence will improve because the technology is bringing the development in the
AI which will directly create the impact on the accounting system (Arteaga, 2018).
Contradicting this, another White (2018) shared the views about the use of the blockchain
technology is increasing and predicted to the increase in the near future. This has been found by
the author in the research that the technology helps the company in the ownership of the assets