Business Research: Foreseeing Accounting Development & Growth

This research report investigates the development of accounting in relation to Australia's economic growth, focusing on the impact of International Financial Reporting Standards (IFRS) and Accounting Information Systems (AIS). It identifies the research problem as the challenges faced by business managers in utilizing global accounting software and the need for advanced accounting standards to ensure economic transparency. The report outlines research objectives including understanding the benefits of IFRS and AIS, identifying new accounting strategies, and addressing factors hindering their implementation. It includes a literature review highlighting the role of IFRS in facilitating international business and capital market development. The report also proposes a research methodology involving data collection and analysis techniques, and addresses ethical considerations. Ultimately, the study aims to provide insights and recommendations for improving accounting practices in Australia to foster economic growth.

Running head: BUSINESS RESEARCH METHODOLOGY
Business Reserach methodology
Name of the Student
Name of the University
Author’s Note

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Executive Summary
Foreseeing the development of accounting based on the current level of economic growth is the
primary concern of this study. The research proposal is conetituted with three chapters.
Introduction part has identified the research issue. The purpose of the research proposal is to
evaluate the key benefits of IFRS Australia and Accounting Information System in business and
to identify new accounting strategy for rendering more improvement in the economic condition
of Australia. Literature review has made in-depth critical evaluation of the research topic. The
primary obejcetive of IFRS is to provide exact information regarding financial position, financial
performances and cash flow of an entity.
The implementation of IFRS has enabled the business experts in comparing data with other
contemporaries. Research methodology part will propose the apporpriate methodological tools
with the help of which data will be gathered and evaluated. Literature review has presented the
similar context on the ten articles along with its dissimilar contexts. The manegrrial implecation
is discussed. At the same time, the study has focused to present the research plan in the
methodology part along with mentioning its ethical considerations. In methodology part, the
study evaluates the apporpirtae data collection and data analysis technique. Some of the effective
ways of sampling techniques is also evaluated in this study.

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Table of Contents
1. Introduction:................................................................................................................................3
Reserach background:.....................................................................................................................4
2. Research problem and objectives:...............................................................................................5
3. Research questions:.....................................................................................................................6
4. Research hypothesis:...................................................................................................................7
5. Literature Review:.......................................................................................................................7
5.1 Summary:...................................................................................................................................7
5.2. Common theme across the article:............................................................................................8
5.3 Different theme across the articles:.........................................................................................10
5.4 Managerial implecation:..........................................................................................................11
5.5 Study Limitation:.....................................................................................................................11
5.6 Summary:.................................................................................................................................12
6. Methodology decision:..............................................................................................................13
6.1 Type of data:............................................................................................................................13
6.2 Data collection method:...........................................................................................................14
6.3 Sampling technique:................................................................................................................14
6.4 Data anlsysis:...........................................................................................................................15
6.5 Ethical consideration:..............................................................................................................16
6.6 Summary:.................................................................................................................................16
6.7 Time-frame of research plan:...................................................................................................17
7. Conclusion:................................................................................................................................18

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Reference List:...............................................................................................................................19
Appendix:......................................................................................................................................21

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Proposed Research Title: Foreseeing the development of accounting based on the current
level of economic growth
1. Introduction:
The present study aims to provide in-depth evaluation about the importance of accounting
development forecast and its ways of improvement for rending economic growth of Australian
business field. Befroe analyzing the impirtance of accounting development in terms of current
econmic growth of Australia the study has provided deatiled understanding and knowledge about
the concept of accounting. Acoounting is the systematic process of identifying, measuring,
interpreting and communicating financial information. While running a corporate indsurty
effectively every business expert needs to have clear transperncy about the mobilization of
international and domestic investment. Therefore, in order to create a transperancy about profit
margin as well as the economic perormance of the organization the role of accounting is highly
significant. The research issue that is identified for this specific study includes foreseeing the
development of accounting based on the current level of economic growth. With the help of
collecting appropriate data and information from various resources the study will focus on
analyzing the identified research issue.
The theory of motivation develops from the concept of fiscal volatility. While dealing
with the international customers as well as foreign investors it is however felt that the business
experts need to widen their sphere of knowledge. National accounting stanrdard cannot multiply
the busienss opportunity beyond going its regional spheres. In order to introduce the brand in the
global market the business experts would have to be dependent on global accounting software.

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Bhat, Callen and Segal (2016) opined that Discursive Policy Entrepreneurs (DPE) is
implemented in context to the macro and micro government in Australia.
This theoretical framework believes that company should invest money from
international investors in quest of expanding the brand and rendering immense economic growth.
At the same time, it is quite evident that IFRS is constituted with several risk factors as well. If
the business experts are unable to use this software they have to face immense business crisis
which can damage the entire business flow. However, the theory of motivation enables the
business experts in learning international business language so that they can successfully deal
with foreign investors.
Reserach background:
After evaluating necessary data on Australian business scenario, it is evident that the
business experts need to adpot innovating accounting standards for redning economic traperancy
in buisness (Afonso and Furceri 2010). At the same time, accounting helps in rending economic
development as well which ultimately reflects on the business performances. Australia has
adopted the IFRS (International Financial Reporting Standards) with the help of which common
global language can be used for the purpose of international business standard. The primary
obejcetive of IFRS is to provide exact information regarding financial position, financial
performances and cash flow of an entity. The implementation of IFRS has enabled the business
experts in comparing data with other contemporaries. As a result, the organization can actually
understand their current position in the market based on which they get the scope to improve
their skills and capabilities. On the other hand, with the help of this accounting standard the
business experts can calculate the future growth and its posibitiies.

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Apart from IFRS, Australia adopts Accounting Information System as well to keep a
contant control over the organizational financial sctor. AIS helps in keeping the busienss
environemnt healthy and transperant (Dayanandan et al. 2016). The business experts are very
much able to collect and store financial database chronologically which enables them in making
appropriate decision towards the business services. AIS is practically a computer-based method
in quest of tracking accounting activities in conjunction with information technology resources.
AIS is an advanced accounting standard with the help of which organizational experts are able to
collect chronological data of the company. Consequently, in any kind of organizational crisis the
business experts get the opportunity of restoring data and making a proepr evaluation of it.
Natuarally, the entire decision making method become easier.
2. Research problem and objectives:
While evaluating the research issue the study focuses to evaluate on how business
managerss have to face challenges in using global accounting software. In order to overcome the
challenges faced by the business experts the first initiative that should be take is to develop
technological skill and competency level. The business experts would have to receive effective
training and development session. Sufficient training and development session would help the
employees in getting accustomed with the advanced technology. Organzations of Australia
should provide internal courses so that employees can learn IFRS standard. If the Australian
business experts can go beyond national accounting standard the business process can be
expanded beyond going regional backgrounds. On the other hand, the realm of target market
would be automatically high. Therefore, training can enhance the technological skill and
competency of an individual.

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After evaluating the scope of businss organizations it is obsrved that Australian business
organizations are facing innumrable challnges in order to run their businss sustainability due to
the lack of efficiency in maintaining accounting standards. On the other hand, organizations do
not use advancd accounting standard based on which data can be chronologically saved and
gathered. Consequently, the business experts are not getting a proper tramsperancy regarding
their organizational database. In order to overcome this kind of situation, Australian
organizations have focused to use advanced accounting standard within business in order to
render economic development as per the current situations. The overview of research objectives
are given below:
 To critically understand the key benefits of IFRS Australia and Accounting Information
System in business
 To identify new accounting strategy for rendering more improvement in the economic
condition of Australia
 To highlight the factors which are preventing in the implementation of new accounting
straegy within Australia
 To provide some of the major recommendations on how to overcome the challenges of
implementing new accounting strategy
3. Research questions:
 What are the key benefits of IFRS Australia and Accounting Information System in
business?
 What should be the new accounting strategy for rendering more improvement in the
economic condition of Australia?

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 What are the factors which are preventing in the implementation of new accounting straegy
within Australia?
 What should be the major recommendations to overcome the challenges of implementing
new accounting strategy?
4. Research hypothesis:
H0: IFRS has significant impact in developing economic growth of Australia as per current
economic standard
H1: IFRS has no significant impact in developing economic growth of Australia as per current
economic standard
5. Literature Review:
5.1 Summary:
The development of capital market is highly significant in enahcing the economic growth
and presperity of the country. The primary mission of IFRS standard is rendering transperency,
accountability as well as efficiency of capital market. IFRS brings and fosters long-term stability
in the overall global economy. Financial information can be considered as the lifeblood of capital
market. In order to brind organiztaional profit the business experts need to have detailed
information about financial stablity, their profit margin level and ways of improving
performances (Afonso and Furceri 2010).
The majority of the countries need to use IFRS standard in quest of compraing the
constarsting the current economyic status of a country along with its future scopes. After

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adopting IFRS standard in the Australian business market the busines experts have achieved
numrous advantages. The business managers who have to control the business process by sitting
in other geographic boundary needs to have clear knowledge in operating IFRS standards.
Otherwise, they cannot evaluate the current market position of their organiztaion in comparision
to its competitors. Foreign investers do not have enough time to get accutsomed with the
language of national accounting standards. Consequently, the business experts have to be well
aware of IFRS standards so that they can dealw with the foreign investors effectively. Foreign
investment is effective enough in rendeing the economic growth of country.
5.2. Common theme across the article:
 As per the business scenario of last five years, it is observe that Australian business
executives were not well habitualted in dealing with the foreign investors due to the lack of
efficiency in IFRS standard. The business experts are not getting enough opportunity in
investing sufficient amount of money in business (Beneish, Miller and Yohn 2015) opined
that. As a result, most of the organizations are getting restricted with regional bounadries.
Consequently, there is no scope of economic development.
 However, in current business scenario, Australian organizations have adopted IFRS standards
(Chua, Cheong and Gould 2012). As a result, the business managers are successfully able to
comparae and contrast the financial database from the perspective of international capital
market scenario. The business experts do not have to face any difficulties in investing capital
within business from foreign investors (Abata 2015). Naturally, the business as well as the
country is getting well developed in economy.
 After adopting global acoounting standard like IFRS the business experts can easily idntify
the risks and opprotunities across the World. It is undeniable that single accounting language

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always lowers the cost of capital (Umobong and Akani 2015). It becomes very much
restricted within specific geographic boundary. Therefore, the business epxerts do not get the
opportunity to use that signle set of accounting language in other business sphere. However,
IFRS helps the business persons in making their capital market high and expand the business
process beyond going regional bounadry.
 Houqe and Monem (2016) opined that Australian accounting review always enables the
business experts to get in-depth knowledge and understanding about the current market
position of business. Deatiled scenario of the profit business margin is clearly invested with
the help of Australian accounting review.
 On the other hand, the business experts can get the opportunity of analzying their business
condition and postion in comparision to its competitors by utilizing Australian accounting
review. Kaya and Koch (2015) opined that the business managers before taking a major
strategic decision can go through accounting review. As a result, the organization would get
to know the importance of adopting acoounting software within business.
 Based on the accounting review and burrent business postion the organizational investors
decides to invest money for business expansion. After evaluating accounting review the
business experts get to know whether business opportunity is high or low in the international
market.
 Kraft and Landsman (2017) stated that business invstors seeks for diversification and
penetration in investing capital. Therefore, they intends to bring the regional business
enterprises in global market. Accounting review is the sector where the investors get to know
whether those regional business enterprises are capable enough in dealing with foreign
investors or not.

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5.3 Different theme across the articles:
 Accounting information system stores and interpret database which enables the business
managers to take right decision in strategic making. AIS prmarily compiles finance, tax and
payroll of data. With the help of AIS process data transaction can be processed. After making
an effective data transaction method AIS disseminates financial information. As a result, it
becomes easier for the financial experts to make strategic decision in business (Dayanandan
et al. 2016). It is however undeniable that AIS software is advanced and emerged technology
with the help of which computarized data can be stored and gathered in a faster way. In
addition, this specific software enables the business experts in evaluating and analyzing the
company database from other competitors. As a result, both the business experts and the
services users both get equal benefits.
 The business managers can get chronological database of the company based on which they
can decide the future growth of their organization (Loyeung et al. 2016). On the other hand,
service users as well can get the business growth and futire prosper of this company by going
through the annual report. This kind of financial report craetes an impression on the mind of
customers.
5.4 Managerial implecation:
Numerous Australian business managers are not well accustomed with the advancement
of technology. In this kind of situation, they have to face immnese challenges in operating
International Financial Reporting Standards and Accounting information system. While dealing
with the foreign invetors the business experts have to be accutsomed with emrging technnology.
They are unable to use global accounting standards and utilize the information for futher decision
making process.