Accounting Challenges Faced by Finance Executives in Global Businesses

This report delves into the challenges finance executives face in global organizations when implementing and managing accounting systems. The research investigates issues such as technological skill gaps among employees, difficulties in adapting to different tax regulations, and the impact of accounting on overall organizational performance. The study employs a quantitative research methodology, including questionnaires and data analysis techniques like regression analysis, to gather and interpret data from employees in the finance departments of global organizations. The report highlights the need for training and development to enhance technological skills and a deeper understanding of global tax regulations. Additionally, the research proposes recommendations for overcoming these challenges, ultimately aiming to improve data management and accounting efficiency within international businesses. The report also acknowledges the limitations of the study, such as the exclusive use of positivism philosophy and the potential for biased responses due to the use of primary data collection methods.

Running head: BUSINESS RESEARCH
Business Research
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Introduction..................................................................................................................................2
2. Project Objective.........................................................................................................................2
3. Project Scope...............................................................................................................................3
4. Literature Review........................................................................................................................4
5. Research Questions/Hypothesis...................................................................................................5
6. Research Design and Methodology.............................................................................................5
7. Research Limitations...................................................................................................................8
8. Time Schedule.............................................................................................................................9
9. Conclusion...................................................................................................................................9
Reference list:................................................................................................................................10
Appendix: Research plan...............................................................................................................11

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1. Introduction
A particular business organization primary aims to maintain the superior quality of
products as well as services. Some of the eminent scholars have opined that maintaining the
product quality and services is not the primary mission of a business organization. In order to
maintain a clear data on organizational profitability business organization has to maintain a clear
database. Accounting is the systematic procedure of storing, maintaining and evaluating both
internal as well as external database for making the entire financial transaction with a
chronological order. The process of accounting enables the business experts to store entire
database of organizational performance systematically. Therefore, the business managers are
having a constant control over the profitability record of the organization. However, it has been
observed that finance department is currently facing innumerable difficulties in maintaining a
constant data record with the help of accounting software. In this kind of situation, organizational
employees fail to provide effective services to the managers due to the lack of technological
skill. Therefore, this specific research issue has focused to evaluate on how the finance
executives of global business organizations are facing innumerable challenges in maintaining
their data record with the help of accounting software.
2. Project Objective
The primary objectives of this particular study are as follows:
 To critically evaluate the challenges and barriers that business experts have to face while
implementing accounting within global organization

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 To critically understand the overall impact of accounting in enhancing the overall
performance level of the global organization’
 To provide some of the major recommendations on how those identified challenges can be
overcome by implementing necessary business strategies as well as policies
3. Project Scope
It has been observed that global business organizations are endowed with large number of
senior employees who are not very much accustomed with the advancement of technology.
Mackey and Gass (2015) opined that those kinds of employees have to face innumerable
difficulties in operating advanced technology while maintaining database both internally as well
as externally. On the other hand, it has also been observed that global business experts have to
follow different structure of tax rate compliance. As a result, as per the tax rate structure the
business experts have to keep a constant update on the legislations and acts of different countries.
Based on the tax legislations the business experts have to prepare the database. In most of
the cases, it has been observed that business experts are not comfortable in keeping an in-depth
knowledge and idea about the different acts and legislation. Consequently, the finance executives
face difficulties in dealing with the database by maintaining a proper chronology. Taylor,
Bogdan and DeVault (2015) stated that after evaluating the research issue some of the researcher
and practitioners have raised their voice to evaluate the necessary challenges that finance
executives of global organizations have to face while using accounting at their workplace.

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4. Literature Review
Based on this specific research issue, challenges of accounting in Global Organizations
various eminent scholars have provided different opinion from their own perspectives. It is
undeniable that large number of business organizations belonging to global market has to
maintain their financial database by using accounting software in order to make accuracy.
Vaioleti (2016) opined that people belonging to different geographical boundaries are associated
within the business organization. Therefore, the role of finance executives are to keep an in-
depth data record on the overall performance level of the employees by calculating their
remuneration, additional benefits and facilities as well as incentives. It has been observed that
global organizations failed to maintain a chronological data record on the overall performance
level of the employees. As a result, employees are not getting their remuneration properly. In this
kind of situation, employees are showing their extreme level of reluctance in providing a good
performance level to the organization.
Flick (2015) stated that the primary challenges that a specific business organization face
while maintaining financial transaction through accounting software include lack of operating
skill of the employees. Large number of senior employees belonging to the global organization
fails to operate the advancement of technology. At the same time, those employees do not have
any competency on how to overcome sudden technological barrier. In this kind of situation, the
entire process of business had been serious affected. However, some of the eminent scholars
have provided necessary recommendations in their own studies on how to overcome challenges
of accounting for running a business organization effectively. As per the opinion of Neuman, and
Robson (2014), the global organizations can provide an effective training to the employees for

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enhancing the skill and competency on technology. An effective training and development
session may help an individual to maintain a balance between customers supply and demand. On
the other hand, finance executives should have in-depth knowledge on the tax regulations and
acts of different countries for maintaining entire financial database properly (Daudt, Mossel and
Scott 2013). As a result, the business experts would not have to face difficulties in maintaining a
proper record about organizational profitability.
5. Research Questions/Hypothesis
 Primary Question
The primary question of this specific research work includes:
 What are the challenges and barriers that business experts have to face while
implementing accounting within global organization
 Secondary Questions
 What is the overall impact of accounting in enhancing the overall performance level of
the global organization?
 What should be the necessary recommendations for overcoming the challenges by
implementing necessary business strategies as well as policies?
6. Research Design and Methodology
For that particular research, primary source of data collection technique would be used
for accomplishing the entire research work. In primary source of data collection technique, only
quantitative form of data analysis procedure has been used (Smith 2015). As a result, the

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researcher got the direct opportunity to communicate with the respondents with the help of which
an immediate response has been collected.
 Quantitative research
Research design:
In order to design the entire research work the researcher would like to use positivism
philosophical approach in order to make a keep observation on the research issue. After
identifying the major components of research issue deductive approach will be used for
evaluating the study from different perspectives (Snyder 2012). With the help of deductive
approach data and information is generally analysed by making an in-depth case study. On the
other hand, descriptive research design will focus to interpret the collected data from different
point of views.
Research instruments:
In order to conduct this particular research work the researcher would like to use some of
the necessary properties based on which the entire data will be evaluated. Those properties are
otherwise named as research instrument (Gale et al. 2013). In this specific study, the research
instruments that are used to conduct the entire study include questionnaires, online sources,
relevant books and magazines and so on.
Data analysis procedure:
This specific research has focused to make an in-depth analysis by using graphical
representation. In order to make the readers understand the entire data will be evaluated thorough
graphs and charts (Tavakoli 2012). In order to maintain accuracy of data the study would be

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focusing on doing regression analysis with the help of which readers can analyse research result
properly.
Sampling technique:
Sampling technique is the systematic process of collecting data from a specific group of
people among large number of population (Choy 2014). Data sampling technique is constituted
with two major types including probability sampling technique and non-probability sampling
technique. In probability sampling technique, respondents are selected randomly. On the other
hand, non-probability sampling technique ensures specific group of people for providing their
responses regarding the research issue (Wahyuni 2012). However, in this particular study non-
probability sampling technique will be used where 50 employees from finance department
belonging to the global organizations will be participated in order to provide their response.
Design of questionnaires:
One particular questionnaire would be formed based on which the respondent would
provide their necessary response. This particular research issue include challenges of accounting
in Global Organizations. For that specific research issue the design of questionnaires would be as
follows:
Q4. How far do you agree that organizational employees are facing innumerable challenges in
handling accounting?
Options Number of
respondents
Total
respondents
Percentage representation of
the total response
Strongly Agree
Agree
Indifferent

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Disagree
Strongly Disagree
Table 1: The rate of employees who agree that organizational employees are facing
innumerable challenges in handling accounting
Reliability and validity of data:
As per the ethical consideration every business experts have to collect data and
information from those sources, which are having proper reliability and validity (Mackenzie et
al. 2012). The secondary sources that will be used within the study should have an authentic
reference list with the help of which readers can find out the links while going through the paper.
On the other hand, it is also important that collected data should have proper validity. The
researcher should use the data resources, which are very much contemporary and are having
proper validity.
7. Research Limitations
While conducting the entire study the researcher has faced some of the major flaws,
which can be avoided while conducting the future study. In this specific research, the researcher
has focused to select positivism philosophy. In this specific philosophy, an individual is only
dependent on observation. On the other hand, post positivism philosophy relies on observation
along with proper evidence. Therefore, while conducting the research work the researcher could
have focused on post-positivism research philosophy instead of only positivism. On the other
hand, the entire research work could have collected data from secondary resources as well. In the
primary source of data collection procedure, the researcher could have got a chance of having
biased response from the participants. In this kind of situation, secondary source of research
work may help the researcher to conduct the entire research systematically.

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8. Time Schedule
(Research plan has been attached in appendix)
9. Conclusion
The entire study has focused to make an in-depth analysis about the challenges that
business experts are facing in implementing accounting within the business services. As per the
opinion of some of the eminent scholars, accounting is having a major significance in
maintaining a chronological database related to finance. However, this specific study has
highlighted some of the major challenges of implementing accounting from different
perspectives. The researcher has used methodological tools for collecting necessary data and
information as well. Based on that particular data and information the study has focused to
evaluate the research issue from both positive as well as negative aspects.

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Reference list:
Choy, L.T., 2014. The strengths and weaknesses of research methodology: Comparison and
complimentary between qualitative and quantitative approaches. IOSR Journal of Humanities
and Social Science, 19(4), pp.99-104.
Daudt, H.M., van Mossel, C. and Scott, S.J., 2013. Enhancing the scoping study methodology: a
large, inter-professional team’s experience with Arksey and O’Malley’s framework. BMC
medical research methodology, 13(1), p.48.
Flick, U., 2015. Introducing research methodology: A beginner's guide to doing a research
project. Sage.
Gale, N.K., Heath, G., Cameron, E., Rashid, S. and Redwood, S., 2013. Using the framework
method for the analysis of qualitative data in multi-disciplinary health research. BMC medical
research methodology, 13(1), p.117.
Mackenzie, J., Tan, P.L., Hoverman, S. and Baldwin, C., 2012. The value and limitations of
Participatory Action Research methodology. Journal of hydrology, 474, pp.11-21.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design.
Routledge.
Neuman, W.L. and Robson, K., 2014. Basics of social research. Pearson Canada.
Pierre, E.A.S., 2012. Post qualitative research. Collecting and interpreting qualitative
materials, 3.
Smith, J.A. ed., 2015. Qualitative psychology: A practical guide to research methods. Sage.
Snyder, C., 2012. A case study of a case study: Analysis of a robust qualitative research
methodology. The Qualitative Report, 17(13), p.1.

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Tavakoli, H., 2012. A dictionary of research methodology and statistics in applied linguistics.
Rahnama press.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A
guidebook and resource. John Wiley & Sons.
Vaioleti, T.M., 2016. Talanoa research methodology: A developing position on Pacific
research. Waikato Journal of Education, 12(1).
Wahyuni, D., 2012. The research design maze: Understanding paradigms, cases, methods and
methodologies.