Research Proposal: Financial Accounting Transformation in the UK

This document presents a research proposal focused on the transformation of financial accounting within the United Kingdom. The proposal outlines the research topic, which investigates the evolution of financial accounting practices. It includes the aim of the study, objectives, and research questions, setting the stage for a comprehensive analysis. The proposal covers a literature review exploring themes such as accounting standards in relation to evolving technology, the comparison of current and ideal accounting standards, and the critical role of financial reporting. The methodology section details the research type (qualitative), approach (inductive), design (exploratory), and philosophy (interpretivism). It also describes data collection methods, data analysis techniques, sampling strategies, and ethical considerations. The study aims to understand the current landscape of financial accounting, its challenges, and its future direction. The research is designed to provide insights into the evolving nature of accounting standards, and their impact on businesses and stakeholders. The proposal concludes with a summary of the research's significance and a list of relevant references.

Individual business
dissertation proposal

Table of Contents
 Topic: A research on how financial accounting is transforming in the UK...........................2
Aim: The aim behind the research study is to evaluate the financial accounting which is
transforming in the UK................................................................................................................2
Objectives....................................................................................................................................2
Research Questions......................................................................................................................2
LITERATURE REVIEW................................................................................................................2
Theme1: The concept of accounting standards with evolving technology..................................2
Theme2: Current accounting standard and ideal standards.........................................................3
Theme3: To analyse that financial report is critical....................................................................3
RESEARCH METHODOLOGY....................................................................................................3
Research type...............................................................................................................................3
Research approach.......................................................................................................................3
Research design...........................................................................................................................3
Research philosophy....................................................................................................................3
Data collection.............................................................................................................................4
Data analysis................................................................................................................................4
Sampling......................................................................................................................................4
Ethical consideration...................................................................................................................4
SUMMARY.....................................................................................................................................4
REFERENCES................................................................................................................................6
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 Topic: A research on how financial accounting is transforming in the UK
Aim: The aim behind the research study is to evaluate the financial accounting which is
transforming in the UK.
Objectives
 To determine a need to change accounting Standards with Evolving Technology.
 To understand are Current Accounting Standards the Ideal Standards?
 To analyse Financial Statements which look like without Accounting Standards?
 To find out whether the financial reporting is critical enough to ensure customer confidence
Research Questions
 Why it is a need to modify the accounting standards?
 What is the concept and meaning of accounting standard and ideal standard?
 Why financial reporting is critical to deliver the customer a confidence?
LITERATURE REVIEW
Theme1: The concept of accounting standards with evolving technology
According to Wiyani and Viddy, (2022) the accounting standard simply defines as set of
practices and policies used in organisation to maintain the financial records. It is important to be
recorded in definite manner as it will allow the company to understand there expenditures and
income. However, the accounting standards with evolving technology is required to be modify as
technology will help the accountant to save their time in calculation and numerical and can
secure their data in any memory reader and encourages the person towards the professional
growth and development. Evolving technology in accounting can provide the wider benefits and
advantages.
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Theme2: Current accounting standard and ideal standards
Houqe, (2018) said that, there are two different kinds of standards where current standard
defines where the standard which are develop of the usage over a short period And can relate to
current condition whereas the ideal standards present the optimum level of performance under
perfect operating conditions. In UK, the FRS 12 is the financial reporting standard which is an
accounting standard and commonly also used in the companies. Accounting standards apply to
full breadth of financial assets, liabilities and revenue.
Theme3: To analyse that financial report is critical
As per the Morais, (2020) it has been stated that financial report is the assessment of the
performance of the company which describe the financial position of the organisation by
analysing the stability and profitability. The main goal of performing the financial reporting is to
analyse the entity is stable or profitable enough to warrant an economy investment.
RESEARCH METHODOLOGY
Research type
Research type is the method which is used by the researcher to collection the information
and data. There are mainly two types of research type are consisted of: qualitative and
quantitative. In the present study, the researcher will use the qualitative research type as it will
provide the data and information in detailed or theoretical manner.
Research approach
The systemic way or process of collecting the data and information is known as research
approach. This research approach is segmented into two categories named as deductive and
inductive approach. The current study will going to use the inductive approach as it allows
flexibility and supports the new theories (Abdurahmon and Abdulazizovich, 2021).
Research design
A framework where the researcher uses the methods and techniques to collect the valid
information and data so that the researcher can be able to conduct the good study. There are two
types of research design: descriptive and exploratory design. This study will use the exploratory
design method because it can adopt the changes easily and leads the research in progress.
Research philosophy
A philosophy is a belief that direct the way where data and information can be gathered
and analysed effectively. There are mainly two types of research philosophy: positivism and
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interpretivism. The present research study is going to use the interpritivism as it is based on
qualitative research type and can provide the truthfulness in study.
Data collection
A collection of the data and information through different sources and adopt the relevant
data is called as data collection. There are two kinds of data collection methods named as
primary and secondary data collection. The present research study will use the primary data
collection as it will deliver the latest and updated data (Ha and Le, 2021).
Data analysis
Analysing and evaluating the data and information which has been collected in known as
data analysis. There are two types of data analysis: thematic analysis and SPSS. The present
study will conduct the thematic analysis as it is easy to learn and understand by the researcher
and also help to adopt the flexibility of the methods for wider range of analytical options.
Sampling
Sampling is the selection of the population or group of people to collect the data and
information to conduct the research study in valid and definite manner. Accordingly, in the
present research the 20 people of financial accounting managers have been chosen for the
appropriate data collection. It is used because it saves time and avoids the repetition of the query
of every individual.
Ethical consideration
A set of principles and ethics which is important to be consider while conducting any kind
of research study as it will reflect that the researcher is not going to neglect or avoid the ethics. In
the present study, research will mention the references which ensure that the content has not be
copied form some other sources.
SUMMARY
The main purpose of conducting this report is to understand the financial and accounting
areas so that the organisation can be able to perform their best results and outcome by
understanding these measures (SARIDOĞAN, 2021). From this above mentioned report, the
information has been gathered where it is describing the concept of the accounting and its
standards which are important to be consider while in a organisation at the accountant position.
Accordingly, the report has conducted the qualitative research type and primary data collection
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which will help the researcher to identify and collect the information and data in detailed manner
and can provide the latest and updated study report.
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REFERENCES
Books and journals
Abdurahmon, K. and Abdulazizovich, K.U., 2021, December. SOME ISSUES OF IMPROVING
SECURITIES ACCOUNTING. In Conference Zone. (pp. 129-132).
Ha, X.T. and Le, T.H.P., 2021. Factors affecting the adoption of the international accounting
standards. In Recent Developments in Vietnamese Business and Finance. (pp. 199-221).
Houqe, N., 2018. A review of the current debate on the determinants and consequences of
mandatory IFRS adoption. International Journal of Accounting & Information
Management.
Morais, A.I., 2020, January. Are changes in international accounting standards making them
more complex?. In Accounting Forum. (Vol. 44, No. 1, pp. 35-63). Routledge.
SARIDOĞAN, A.A., 2021. An Empirical Analysis for Determinants of Strength of Auditing and
Accounting Standards in The World. JOEEP: Journal of Emerging Economies and
Policy. 6(1), pp.188-193.
Wiyani, L. and Viddy, A., 2022, March. Influence of Human Resources and Competency
Internal Control System on the Quality of Financial Reports with the Application of
Accrual-Based Accounting Standards as a Mediation Variable. In International
Conference on Applied Science and Technology on Social Science 2021. (iCAST-SS
2021) (pp. 968-975). Atlantis Press.
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