Foreseeing Future Accounting Development in Australia: An Analysis

This research project examines the future development of accounting in Australia based on its current level of economic growth, emphasizing the significant role accounting plays in the country's economic landscape. It highlights Australia's adoption of IFRS standards and Accounting Information Systems, noting their benefits in enhancing financial information comparability, corporate governance, and decision-making. The project addresses the research problem of foreseeing accounting's future development and poses key research questions related to IFRS Australia, Accounting Information Systems, and strategies for improving Australia's economic condition. The research aims to explore the conceptual understanding of IFRS and Accounting Information Systems, understand their influence on economic conditions, and identify accounting strategies for future economic improvement, employing both primary and secondary data collection methods while adhering to ethical considerations such as confidentiality and plagiarism prevention. The study references relevant articles from the 'Australian Accounting Review' and other publications to support its literature review and analysis.

Name : ________________________________________________
Student ID : ____________________________________________
Proposed Research Title: Foreseeing the development of accounting in the future based
on its current level of economic growth
Client Organisation (if applicable)
Accounting Sector
Research Background
The subject of research is to examine the development of accounting in the future based on its
present level of economic development in the context of Australia.” In the existing period, the
accounting plays a significant role in the economic development in Australia. Australia has
adopted the IFRS standards. The adoption of the IFRS by the profit-making entities is beneficial
for the economy of Australia. After the adoption of the IFRS standards, the excellence and the
comparability of the financial information has been increased. The better implementation of IFRS
standards enables the investors and forecasters to analyses the future growth of the organizations.
Australia has also adopted the Accounting Information System (Loyeung, et al., 2016). The
Accounting Information System helps in making the solid, reliable, fair, and transparent business
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environment. The Accounting Information System helps in better implementation of the
corporate governance practices and the policies. It creates the healthy environment of taking the
good decision of business. In Australia, the pre-eminent journal ‘Australian Accounting Review’
is published regularly. The Australian Accounting Review renders the detailed discussion and
critical examination of the business and economy growth, which influence the employees and
management in the field of finance, accounting, and business of the company.
Research Problem / Research Question
Research Problem
Foreseeing the development of accounting in the future based on its current level of
economic growth
Research questions
The following research questions will be accomplished caused of the attainment of
research goal.
 What do you understand by IFRS Australia and Accounting Information System
 What are the key benefits and their possible influence of IFRS Australia and
Accounting Information System to improve the economic condition
 What are accounting strategies for improving Australian economic condition in
future
Research Aim and Objectives
The main aim of this research is to address the upcoming development in the accounting
sector for increasing the growth of the economy. The following objectives will be
completed to meet the specified aim of this study:
 To explore the conceptual understanding about IFRS Australia and Accounting
Information System
 To understand key benefits and the possible influence of IFRS Australia and
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Accounting Information System to improve the economic condition
 To identify accounting strategies for improving Australian economic condition
in future
Keywords for Literature Review
 IFRS standards
 Australian Accounting Information System
 key benefits and their possible influence of IFRS Australia and Accounting
Information System to improve the economic condition
 Role of Australian Accounting Review’ in improving the Australian economic
condition in future
Publication details of relevant articles for a literature review
 Loyeung, A., Matolcsy, Z., Weber, J. and Wells, P., 2016. The cost of
implementing new accounting standards: The case of IFRS adoption in
Australia. Australian Journal of Management, 41(4), pp.611-632.
 Dayanandan, A., Donker, H., Ivanof, M. and Karahan, G., 2016. IFRS and
accounting quality: legal origin, regional, and disclosure impacts. International
Journal of Accounting and Information Management, 24(3), pp.296-316.
 Schührer, S., 2018. Identifying policy entrepreneurs of public sector accounting
agenda setting in Australia. Accounting, Auditing & Accountability
Journal, 31(4), pp.1067-1097.
 Naghshbandi, N., Ombati, R.M. and Khosravi, V., 2016. EMPIRICAL STUDY
ON THE IMPACT OF CULTURE ON ACCOUNTING PRACTICES: DOES
IT DISAPEAR AFTER THE INTRODUCTION OF IFRS. International
Journal For Research In Business, Management And Accounting (ISSN: 2455-
6114), 2(3), pp.108-120.
Data Collection Plan
For this research study, the investigator will practice both data collection method like primary
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and secondary data collection method. From the use of primary data gathering technique, the
investigator will practice survey through questionnaire and collect the views and opinion of the
research candidates about research issue. The primary data is collected by considering many
sources such as survey through a questionnaire, interview, and observation. Apart from this, the
secondary data collection will enable the researcher to get theoretical information about research
matter from the existing sources (Ledford and Gast, 2018). The researcher will consider many
sources to conduct the research and obtain reliable outcomes like academic journals, books,
articles, and online and offline sources.
Ethical Consideration
For the research, the ethics concept is connected with completing each activity of the study in a
reliable way by considering the university regulations and participant’s privacy. The ethical
norms facilitate research scholar to accomplish the research goal (Flick, 2015). There are certain
factors that are considered in the ethical research like confidentiality, integrity, and
communication. In addition, it is evaluated that research scholar will make the integrity with their
research participants to systematically accomplish the aim and objectives of the research. Apart
from this, the researcher will use the ethical norms and conduct an appropriate conversation with
their research candidates during research as it will be effective for the attainment of research aim
and objectives (Vaioleti, 2016). It could lead to getting the reliable outcome. The researcher will
also secure all the confidential information of the research participants as it could be effective for
getting a reliable result (Mackey and Gass, 2015). Apart from this, a researcher will also
concentrate on certain factors that could create ethical issues like the copyright act’s violation,
plagiarism, and data fracturing (Ledford and Gast, 2018). These issues could be eliminated by
the researcher by offering full credit to their authors. In this, the researcher will provide an
authentic citation in each paragraph as it increases research outcome authenticity (Flick,
2015). For eliminating the similarity of the report, the research scholar will practice the simple
language and collect appropriate information. Moreover, research scholar will take the
appointment to the research participants prior to starting this research. Through this method, the
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research scholar will be capable to obtain the reliable information. The researcher will also secure
all the confidential information of the research participants as it could be effective for getting a
reliable result.
References
 Langfield-Smith, K., Smith, D., Andon, P., Hilton, R., and Thorne, H.,
2017. Management Accounting: Information for creating and managing value.
McGraw-Hill Education Australia.
 Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and
design. UK: Routledge.
 Vaioleti, T.M., 2016. Talanoa research methodology: A developing position on
Pacific research. Waikato Journal of Education, 12(1).
 Flick, U., 2015. Introducing research methodology: A beginner's guide to doing
a research project. Sage.
 Ledford, J.R., and Gast, D.L., 2018. Single case research methodology:
Applications in special education and behavioral sciences. Routledge.
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