Research Proposal on Challenges in Financial Accounting Practices

This research proposal examines the challenges in financial accounting within the current global environment. It begins with an introduction to the transformations impacting the industry, followed by the objective to determine the effectiveness of financial accounting and the scope covering the issues faced by the accounting industry in the global context. The literature review discusses challenges like developing new businesses, finding and retaining staff, and internal change. The proposal justifies the need for accountants to adapt to changes and discusses research questions, methodology (qualitative and quantitative), sampling, variables, and data collection/analysis methods. It concludes with a discussion on reliability, validity, limitations, and a time plan, highlighting the need for accountants to adapt to globalization and technological advancements. The research aims to explore the challenges and offer insights into the future of the accounting profession.

RUNNING HEAD: RESEARCH PROPOSAL 1
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Student Name
Institute Name

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Contents
Introduction.................................................................................................................................................2
Objective.....................................................................................................................................................2
Scope...........................................................................................................................................................2
Literature review.........................................................................................................................................2
Justification.................................................................................................................................................4
Research questions......................................................................................................................................5
Primary research questions.....................................................................................................................5
Secondary research questions.................................................................................................................5
Research design and methodology..............................................................................................................5
Qualitative research................................................................................................................................5
Quantitative research..............................................................................................................................5
Sample size..............................................................................................................................................5
Sampling..................................................................................................................................................6
Variables..................................................................................................................................................6
Data collection.........................................................................................................................................7
Data analysis............................................................................................................................................7
Conclusion...................................................................................................................................................7
Reliability and validity..................................................................................................................................8
Research limitation......................................................................................................................................8
Time plan.....................................................................................................................................................9
Reference....................................................................................................................................................9

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Introduction
Any decision maker in the current time understands that the industry is going through varied
ranges of transformations and it also impact this transformation which is hitting all in a single act
and with entirely new kinds of crucial business challenges. The practices in accounting are
primarily implicated in the present financial crisis and in the process of recapitalizing the
institution as well as balancing the stability to the international financial system (Teittinen et al.,
2013). The report will discuss the methodological as well as theory based gaps in accounting
research that widely explains the failures to predict the future and also restricts the capacity to
evaluate as well as respond to it appropriately.
Objective
The objective the report is to decide the overall effectiveness of financial accounting and its
challenges faced by it in a current global environment.
Scope
The significance of the based financial accounting in the business cannot be just overlooked. The
overall scope of the report will aim at many challenges and issues faced by accounting industry
while working in the current sensitive global environment (Sudaryanti et al., 2015). It is
important to understand the role of accounting in a number of organization that is working on the
global platform.
Literature review
Following is the detailed discussion of challenges: -

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1. Developing newer businesses: there is over seventy-five percent of respondents that says
that to attract as well as develop new businesses is the main issue for accounting as well
as finance based Service Company. This is done in line with various present trends that
are popular across the different set of professional service based industries. In the many
parts of segments, it is developing more and also challenging to develop new customer. It
is important to understand that competition is fierce in this case (Gereffi and Fernandez-
Stark, 2016). Especially as per accounting and finance based firm has a feeling of a lot of
pressure from global competition. Since there is the existence of competitive pressure, the
existence of growth and development is critical objectives for the companies (Otley,
2015).
2. Finding and retaining good staff: the study also says that the trend is in the market for
some time now and the pressure to find the talent is continuously heating up. There are
many talent based mergers and acquisition which is further becoming the part of
significant attention with some companies (Dufour et al., 2014). But it is challenging, and
it has been already touched since there is an existence of generational transformation
along with a shortage of labor. Since the baby boomers in a time of retiring and it is
becoming urgent for companies to save the strong base for talent and also plan for the
upcoming wave of leaders (Guthrie and D. Parker, 2014). The brand of the company
plays a major role in the current process, and part of the company's brand is based on the
reputation to employ as well as cultivate the leaders. However, it is also important to
build that kind of reputation.
3. Internal change challenges: the impact of baby boomers can be seen here since there is
mass retirement and it is becoming a challenge. Companies are expending a lot of energy

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and dealing with questions about internal transformation and leadership. The answer to
the question in above discussion says that to employ as well as developing leaders, what
should be the process. (Arnaboldi et al., 2017) The answer to this can be experts with
high visibility. May be the company has experts in the company and the management just
have to figure out the widely identify the industry and goes way beyond for the sake of
talents (Lele, 2017). Some popular professionals are also termed as visible experts to
boost the overall opinion of the present brand among customers and workforce (Almeida
et al., 2017).
Justification
The management accountants in the last century are not a part of the concept of bean counting
however now the role has transformed to hybrid accountant within a company. People are now
facing fierce competition with loads of challenges and are further expected to adapt with quick
transformation in a business environment (Stubbs et al., 2014). The organization looks for an
accountant who is more proactive by nature since they are now expecting to become a major role
of management and also all ready to deal with the challenges (Van et al., 2017). The report
discusses the issues on organizational as well as environmental characteristics which further are
believed to be a significant contributor to the important issue faced by accountants in the present
time. There is an existence of a concept based framework which was developed in varied forms
that the relationship between an accountant and his roles, works and features driving towards the
transformation that leads to the challenges faced by the accounting managers (Frezatti et al.,
2014). It is important for the now to comfortably adapt to all the current changes to be more
competitive and ready for the future. Normally many factors can impact the changes to the
present state of accounting profession (Stubbs et al., 2014). Also, multiple features are always

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causing the changes which includes the environment of the organization and factors like
customer attentions, globalization and quick change in technology becoming the part of it
(Bartram et al., 2014).
Research questions
Primary research questions
1. What are some of the important challenges faced by the accountant professionals?
Secondary research questions
1. What are the challenges faced by the business while adjusting with the change in market?
2. Challenges to manage global business in the current time
3. Are there any advantages or disadvantages related with the usage of financial statement?
Research design and methodology
Qualitative research
The accounting process consists the evaluation of human nature which is also mixed with
research with the assistance of gaining clarity about the nature of using the accounting based
information. Therefore this kind of research will help in forming a detailed form of the survey
through a questionnaire that will have some crucial open ended and closed ended doubts (Albu et
al., 2014).
Quantitative research
The quantitative research is done with the help of well-structured survey in the form of the
interview which is conducted with a similar number of respondents on the phone along with face
to face interaction (Adenike et al., 2016). This further will make sure that every interview will

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have a similar set of queries. It is important to understand that comparisons that exist between
different kinds of organizations (Rathee and Kapil, 2015).
Sample size
The case will ask people who are obviously above the age of 18 which means are major. This
further can be done to make sure the opinions taken on the challenges of the global organization
in some institutions can be covered in all possible ages. The sample taken in the study is a
representative of the population that can be explored, and therefore the findings are based on
sample related population that can be analyzed and also represented the population of study
(Rathee and Kapil, 2015).
Sampling
The study will take random sampling techniques. The method has a huge population, and it is
also challenging to recognize every member of the population. The complete process of sampling
is done in one step with every subject selected in an independent manner of other parts of the
populations (Jacobs, 2016). The word random has very selective based meaning, and one can't
just collect the answers at one place and form a random kind of sample (Rathee and Kapil,
2015). The technique helps every member of the complete population has an equal opportunity
to select it as a subject.
Variables
The various variables selected for the research can be divided into two categories which are
dependent variables as well as independent variables. The dependent variables are those
variables that are part of the researchers who show interest in taking part of it, and then there are
independent which get impacted by the dependent variables (Osborne et al., 2014). The variable
in the dependent category will base the research on factors like gender, age and other physical

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factors of the respondents. On the other hand, independent variables will consist of the basic
nature of the business and whether it can be used the standard accounting guidelines with the
level of impact of many financial statements.
Data collection
The data will obviously be collected through respondents through various email addresses while
there is other that can be delivered by hand and by each assistant in research. The participants
will be asked to answer the questions of the questionnaire and the responses taken from the
questionnaire and the data collected from it will be entered in excel file to analysis it properly
(Brusca et al., 2016). The data here will further be exported into a varied version of SPSS based
on data analysis software; it is evaluated and presented by using descriptive statistics like mode
based percentages or method of standard deviations.
Data analysis
The data collected will be summarized which will be an outcome and will further be presented in
the form of charts, tables or graphs (Thrane et al., 2017). Also, there will be many linear based
regression model utilized to answer the effectiveness of many financial based reporting for the
organization taken as a sample here (Brusca et al., 2016). There are so many bases for control the
impact on some variables, and it will also provide information based on the impacts of many
independent variables.
Conclusion
In the current business environment, some management accountants are experiencing crucial
transformation in the form of role and work (Edwards, 2013). This is why, the competent and
trusted place in an organization, many management based accountants can proactively be part of
leadership and operational based alignment with improvement. These variables are now

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accountable as the internal consultant to the business. It is further expected to work closely with
all kind of managers at the top level and operational (Brusca et al., 2016). They also help the
management in providing important information in the decision making. It also consists of many
issues that pertain to many value added operations and the fast moving culture need them to
properly adapt to so many changes that are unexpected. They cannot be regarded as conservative
accountants. One of the greatest challenges of the accountant at the present time is related to
preparing the globalization in the international market. The concept of globalization with the
intense or fierce competition with ever changing regulations by government and innovation with
the use of technology that led to a transformation in a current market environment which the has
substantial impact on the company. Many organizations have initiated going international by
taking the business operations to become more and more voluminous and complicated to
address. But with the advent of technology, there are much innovative software and another kind
of tools that have been developed to help the management accountant in dealing with the work
(Brusca et al., 2016). This further shows or exhibits that the business environment in the current
time functions without the help of any technology. The future of accountant also depends on how
they are adapted and responded with some emerging technologies.
Reliability and validity
The overall usage of different tools in this research is also related to the threat based on the
concept of reliability as well as the validity of the outcomes. For the sake of primary data
evaluation for validity and reliability will help in finding out the same outcome and can be
reproduced. At the same time, there is secondary data, and there will be no requirement of
conducting the test.

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Research limitation
Some of the important drawbacks of the research method will research regarding having long
time-based efforts needed. Also, the research will also need more and more resources to collect
enough data so that it can answer the set-out research questions and doubts related to it (Brusca
et al., 2016).
Time plan

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Reference
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Accounting Activities in Manufacturing Industries in Nigeria.
Albu, C.N., Albu, N. and Alexander, D., 2014. When global accounting standards meet the local
context—Insights from an emerging economy. Critical Perspectives on Accounting, 25(6),
pp.489-510.
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employers in their recruitment and selection of immigrant professionals in the information
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Dufour, D., Teller, P. and Luu, P., 2014. A neo-institutionalist model of the diffusion of IFRS
accounting standards. Computational Economics, 44(1), pp.27-44.

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