Integrated Accounting Projects: Tech Impacts on Financial Reporting

This research proposal examines the impact of technology on financial reporting within the accounting field. The study investigates the relationship between technology systems, including data processing, storage, and retrieval, and the quality of financial reports. The objectives include analyzing technology's contribution to financial reporting quality, assessing how technology improves accounting data systems, and determining if it enhances internal financial reporting controls. The research methodology employs a descriptive research design, utilizing questionnaires for data collection and quantitative analysis. The conceptual framework outlines independent variables (technology systems) and dependent variables (financial quality), with hypotheses addressing the impact of data processing, storage, and retrieval on financial report quality. The proposal also acknowledges limitations related to time, funding, and researcher experience. The study aims to contribute insights into the evolving role of technology in enhancing financial reporting processes and outcomes. The research is a continuation of a previous literature review.

Running Head: INTEGRATED ACCOUNTING PROJECTS 1
Integrated Accounting Projects
Name
Affiliation
Date

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Table of Contents
Abstract..................................................................................................................................................3
Chapter one............................................................................................................................................4
Introduction...........................................................................................................................................4
1. Background....................................................................................................................................4
1.2. The significance of the study and motivation...........................................................................6
1.3. The purpose/objective of the study...........................................................................................7
1.4. Research Problem and Questions.............................................................................................7
1.4.1. Problem statement.................................................................................................................7
1.4.2. Research question..................................................................................................................8
Chapter two...........................................................................................................................................9
2. Conceptual framework..................................................................................................................9
2.2. Hypotheses..................................................................................................................................9
Chapter three.......................................................................................................................................10
Research methodology........................................................................................................................10
3. Introduction.................................................................................................................................10
3.2. Research design........................................................................................................................10
3.3. Target population....................................................................................................................11
3.4. Sample design...........................................................................................................................11
3.5. Data sources.............................................................................................................................12
3.6. Data collection methods...........................................................................................................13
3.7. Data reliability and Validity....................................................................................................13
3.8. Data analysis............................................................................................................................14
3.9. Ethical declaration...................................................................................................................14
3.10. Limitation of the study........................................................................................................15
References............................................................................................................................................18
Appendix:.............................................................................................................................................22

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Abstract
The relationship between business and technology is still a major concern by most of the
technological and enterprise or business managers. The increased use of technology in the
financial reporting of business illustrates the major relations that exist between technology
challenges and responses in illustrating the future research so as to enhance the alignment that
exists between organizational performance and the adopted technology. The major objective of
this study was to make an analysis of the impacts created by technology on financial reporting.
The study was also guided by other specific objectives such as (i) to measure the rate at which
technology contributes towards the quality of financial reporting, (ii) how an organization
improves its outputs of accounting data system and if the program improves an organization's
control of internal financial reporting. The study involves the use of "descriptive research
design" in order to evaluate the research variables plus the major tools of collecting data. For this
study, the major tool that was considered for collecting data was questionnaire. Also, the study
indicated that quantitative data will be analyzed with inferential and descriptive analysis. The
study indicated that the research will consider the dependent variables (financial quality) as
relevancy, reliability and understandability and independent variables (technology systems) to be
"account8ing data processing, account8ing data storage, and accounting data retrieval." The
study also indicated that the research will involve various limitations such as time, funds, and
inadequate experience of the researchers to collect data in various organizations.
Keywords: financial reporting, technology data, data quality.

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Chapter one
Introduction
1. Background
Currently, the increased use of technology in financial accounting reporting is a new
system. Most of the studies have tried to illustrate the role played by technology in financial
reporting. In this case, financial reporting plays an important role in the organization operations.
All business are required to monitor their financial data that is in line with the activities of the
business. Financial reporting is also made up of various processes where some are complex,
burdensome and others simple. As a result of increased growth of the business by entering into
new markets, acquiring new customers and also maintain the pace of the continued evolution of
technology, the business is supposed to maintain high levels of accuracy, statuary and inventory
records. As a result of the increased number of financial transactions and exposure of errors in
information as a result of the complexity of various accounting systems, businesses are required
to process and store their accounting information with increased storage, processing capacity,
and speed. As a result of this need, financial accounting software systems were introduced and
developed (Hla, & Teru, 2015).
Today, most of the businesses or organizations integrate and automate their business
activities by implementing technology systems. In this case, technology systems are computer-
based or manual systems that are aimed at increasing the control of an organization by assigning
a quantitative role of the present, future, and past financial events. Technology systems play a
vital role in financial reporting such as data maintenance, data knowledge management,
information generation, security or data control, and data collection (Iskandar, 2015).

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In financial reporting, technology seeks to take part in improving the quantity and quality
of data in order to enhance the business's delivery of services to users hence meeting their needs.
The use of technology in financial reporting helps in recording the financial reports or
transaction s of the business with the help of software and computer. The system is a database-
based application which involves the data transaction and storage in the organization's database.
The users of the system are required to operate their activities on a database with the help of an
interface. Also, the system is required to take the necessary financial reports by accurately
transforming the stored financial information and data. Therefore, in financial accounting,
technology plays an important role in streamlining, integrating and simplifying all the process of
the business at a reduced cost through helping in the presentation of business activities to its
users inform of financial reports. As a result of increased technological innovation, various
businesses to monitor their financial transactions with the help of computerized systems than
using manual systems that involve "the use of physical ledger." A Because of the increased
technological innovation, "computerized accounting systems" have emerged which assist in
producing faithful and accurate financial reports for the organization and other external users
(Khaled, & Abdulqawi, 2015).
1.2. The significance of the study and motivation
This study's significance is aimed at illustrating the required information concerning the
"Impact of technology on financial reporting." Also, the study aims at explaining the effects and
influence created by technological systems on accounting and financial reporting. As a result of
the continued change in technology across the world, modernization has become a major aspect
of technology. As already indicated previously in the literature review, very many countries
across the world use technology for accounting and financial reporting. This indicates that

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technology is greatly increased "capitalism for information technology department and lesser
man force required by the companies" (Marshall, & Paul, 2012).
Technology systems provide organizations data concerning financial obligations,
activities, and resources that are required to be used primarily by creditors, investors and
"external decision makers" of the organization. Therefore, this study aims at providing vital
information regarding credit decisions and investment (Muhindo, et al, 2014).
1.3. The purpose/objective of the study
Technology helps various businesses to obtain the required information to organization
managers at various levels in elaborating their duties in an efficient and effective manner in
various accounting and financial area of performance evaluation, decision making, planning, and
resource control and thereby considered a major important financial system of an organization
(Muhindo, et al, 2014).
For this study, the main objective is to make an analysis of the impacts of technology on
financial reporting. Also, the paper aims at measuring the rate at which technology contributes
towards the quality of financial reporting, how an organization improves its outputs of
accounting data system and if the program improves an organization's control of internal
financial reporting (Muhindo, et al, 2014).
1.4. Research Problem and Questions
1.4.1. Problem statement
Currently, technology plays a vital role in the quality of financial and accounting
reporting by creating a relation between technological responses and challenges. The research is
required to point out the organization's future for improving technology in supporting financial

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reporting. For this case, more research is required to acquire detailed knowledge about the
benefits and potentialities that technology brings to the organization's financial reporting and the
impact they create on the accounting function. An organization's technology can best be
improved by managing user commitment and competence. The implementation of technological
systems contributes a big change towards the accounting and financial reporting of the
organization by using computerized systems which are difficult to be adopted by most users.
Most organizations are finding means of designing perfect data accounting or financial systems
which can be in the position to enhance their performance. The study aims at examining the
impacts created by technology on financial reporting considering different strategic options
(Saeidi, 2014).
Today, technology has become a major driving force of organizations’ performance,
structure, operations, and ownership. These forces cover various industries creating up changes
which in turn result in significant social and economic impacts towards the effectiveness of the
organization. The emerging technology in accounting and financial reporting is made up of
various traditional systems which have continuously increased the need for efficient and reduced
operating costs in an organization. An organization's ability to attain competitive advantages of
improved financial reporting is determined by its capacity to adapt to technological systems so as
to attain effective financial markets and operation (Tazik, & Mohamed, 2014).
As a result of the increased growth of technology, the use of manual systems in financial
reporting has become inadequate for facilitating the organization needs. Consequently, private
and public sectors in both developed and developing economies consider using technological
systems to ensure efficient and effective accounting and financial flow, processing, analysis and
recording. The efficient and effective flow of information enhances the decision making of an

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organization thereby increasing its ability to achieving business and corporate strategy objectives
(Saeed, 2016).
1.4.2. Research question
 What is the major importance of using technology in financial and accounting reporting?
 What problems are in line with using technology systems in financial accounting
reporting?
 What procedures are followed to choose a given technology system for financial
reporting?
Chapter two
2. Conceptual framework
Figure one: Conceptual framework
Independent variables (technology systems) Dependent variables (financial quality)
Explanation: The above conceptual framework diagram illustrates the relationship
between financial reporting and technology systems of various accounting and financial
organizations. The conceptual framework indicates technology as an independent variable while
financial reporting as a dependent variable. In conducting the research, technology systems
(independent variable) will be conceptualized inform of data processing, financial data, and data

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retrieval. On the other hand, financial reports (dependent variable) will be determined by their
understandability, relevancy, and reliability. To effectively perform this study, researchers will
be in the position to carry out a survey concerning medium and small enterprises in Australia.
The researcher will be able to make sure that all financial organizations which haven't
implemented technology systems for accounting and financial reporting incorporate them
(Shiraj, 2015).
2.2. Hypotheses
 Accounting Data or information processing lacks major significant impact on the quality
of accounting and financial reports of an organization or commercial bank
 Accounting information or data storage lacks significant impacts on the organization's
quality of accounting and financial reports
 The Retrieval of accounting data has no major effects on the quality of an organization's
financial report.
Chapter three
Research methodology
3. Introduction
This chapter illustrates the research methodology of the study that will be followed to
help in carrying out the research. This section is comprised of various subheading, that is to say,
research design, sampling and sample design, data collection methods, data reliability and
validity, data collection tools, sampling design, and data analysis
3.2. Research design

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The research will be carried out with the help of a "descriptive research approach" so as
to evaluate the impact created by technology on the "quality of financial reports" of a selected
bank in Australia. The Description research design will be defined as "a scientific method in
which information is collected without changing the environment itincludes surveys and fact-
finding inquiries of different kinds, which seeks to obtain information that discloses existing
phenomenon." This research design will be adopted because it will help in describing the nature
of issues as they appear in the current perspective. The study will also involve a quantitative
approach. This will involve "the collection of numerical data in order to explain, predict and
control phenomena of interest, data analysis being more statistical" It will also involve the
collection of data so as to answer different cautions in regards to the present status of the matter
under investigation and test the hypotheses (SLMOF, 2013).
3.3. Target population
For this study, the target population will be enterprises mostly banks using technology to
make financial reporting. The study will comprise of 10 enterprises. In this case, various
departments in the enterprise will take part in the study, for example, the accounting department,
operational department, and Information Communication Technology department (ICT). At least
a total of 20 members in each department will take part in the study (Turner, & Weickgenannt,
2013).
3.4. Sample design
Selection and sampling are important procedures and principles that are used to choose,
gain and identify necessary sources of data. In simple terms, a sample refers to "a smaller (but
hopefully representative) collection of units from a population used to determine truths about

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that population." There are major two types of sampling designs mostly used in by researchers,
that is to say, Non -probability sampling and representative or probability sampling. For
Probability sampling, it is always common with "survey research strategies as each case being
selected from the population is known and is usually equal for all cases." while judgemental or
non-probability sampling is "the probability of each case being selected from the total population
is not known." The sampling design method to be used in the study is non-probability. According
to VanBaren (2017), non-probability sampling "provides a range of alternative techniques to
select samples based on your subjective judgment. In the exploratory stages of some research
projects, a non-probability sample may be the most practical." For this study, the relevant
samples will be selected within an enterprise. Interviews will be carried out on the members in
the organization depending on their departments such as the ICT department, financial
department, and many others. Therefore, the selection will be done on individuals with
significant experience in financial reporting and technology so as to obtain the correct data
required for the study (El- Dalabeeh, 2012).
The study will also involve a purposive sampling design. In this case, purposive is
"based on judgment on possession of specialized accounting experiences and knowledge on
information technology." This sampling design will be chosen because it is helpful in the
selection of people within a given sample with specialized experiences or information regarding
the problem under investigation or study by virtual of their position or specific position in the
organization. For example the head of the ICT department. The method is more considerable
because it provides accurate results for maximum and heterogeneous variation sampling
(Alshebeil, 2010).
3.5. Data sources

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Data from the study will be obtained from the primary and secondary sources. In this
case, the study will be performed with the help of raw data from different enterprises. The data
will be collected with the help of questionnaires as the research tools. These will help in the
appropriate collection of data to evaluate the current situation under investigation.The researcher
will also collect data using secondary sources. In this case, the researcher will be required to use
the current data sources that are available publically known as "secondary sources of data." This
kind of data is originally obtained with the intention of fulfilling other roles. Secondary data is
made up of the industry and company-specific websites and also other relevant and previous
research journal articles and papers (Nejad, & Soudani, 2012).
3.6. Data collection methods
In research, data collection is a critical element. For this case, the study will use "a self-
administered questionnaire" which will be required to collect primary data. The researcher will
be required to design a self-administered questionnaire and distribute them to various enterprise
members included in the study. The questionnaires will be categorized into major three sections,
that is to say, Section A which will be dealing with the respondents' Bio-data, section B will also
be concerned with an organization's independent variables, and technology systems and Section
C will be made up of the "dependent variables" of the study. In addition, questionnaires will be
printed in simple and clear language possible so that the respondents can be in the position to
understand them. The respondents will be required to make their rightful choices by ticking the
most right answers (Onaolapo, 2014).
3.7. Data reliability and Validity