Research Proposal: The Role of IT in Accounting and Finance (BUS707)

This research proposal investigates the impact of information technology (IT) on modern accounting practices and finance, specifically within the context of Australia. The study aims to demonstrate the significance of IT in accounting and management control, highlighting the need for further research in this area. The proposal includes an introduction, literature review, and research methodology. The introduction covers the research topic, aims, objectives, and proposal structure. The literature review explores the significant effects of IT and innovation on management accounting structures, drawing on various sources. The research methodology section outlines a mixed research approach, employing both primary and secondary data collection methods, including interviews and surveys, and statistical data evaluation. The proposal also emphasizes ethical considerations for conducting the research. The study aims to answer questions regarding the role of technology, challenges, and strategies for IT implementation in accounting and finance. The research will explore the role of IT in accounting and finance, the challenges faced by organizations, and strategies for improving IT implementation. The proposal emphasizes the importance of IT for organizations to improve their understanding of the technology and comprehend how much it is imperative in accounting and finance.

Running Head: APPLIED BUSINESS RESEARCH
APPLIED BUSINESS RESEARCH

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Abstract
The key purpose investigation is to assess impact of information technology into modern
accounting practices as well as, finances with respect to Australia. This investigation
demonstrated that how IT is imperative in accounting and management controlling activity.
However, in previous research, it has not been researched significantly.
This investigation is supportive for avoiding the concern. This research proposal involves some
components like introduction, literature review and research methodology. Under introduction
element, this investigation has involved the topic of research, aim as well as objectives, proposal
structure. Under second section, this study discusses that information technology as well as
innovation has significant effect on management accounting structure.
Under research design section, it is demonstrated that mixed research method will be
implemented to gather theoretical as well as, practical facts associated with research concerns.
This research proposal is considered data collected methods like both primary as well as
secondary data gathering tools. Both interview and survey tools would be implemented for
gathering the information. In addition to this, statistical data evaluation will be implemented for
assessing the gathered data in effective manner. This investigation illustrates that ethical
consideration is supportive in completing research within ethical way.

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Table of Contents
Abstract........................................................................................................................................2
Introduction to the research.............................................................................................................4
Research background...................................................................................................................4
Research Questions and Research Objectives.............................................................................4
Research question........................................................................................................................5
Outline the structure of this proposal...........................................................................................5
Introduction..............................................................................................................................5
Literature review......................................................................................................................5
Research methodology.............................................................................................................5
Theoretical Background/Literature review......................................................................................5
Research Design and Methodology...............................................................................................11
Type of research (exploratory, descriptive or causal)................................................................11
Research approach (quantitative, qualitative or mixed approach).............................................11
Type of data will be used (primary or secondary data)..............................................................12
Data collection...........................................................................................................................12
Sampling....................................................................................................................................12
Data analysis..............................................................................................................................13
Ethical consideration..................................................................................................................14
References......................................................................................................................................15

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Introduction to the research
Research background
Under investigation field, it is required for the company to gain their knowledge about
technology as well as, understanding the significance of accounting as well finance. The largest
concern that is faced through organization is competency of company for developing and
practicing the computerized structure to track the record related to financial transactions. This is
evaluated that IT (information technology) networking system can have shortened required time
by accountants for creating and presenting financial information of management (Puasa, et al.,
2019).
It is addressed that technology can secure all financial data of the corporation because it can gain
the possibility regarding the success of firm. Finance is a significant element of company. In the
case of lack of finance, company cannot deal their business significantly. It is evaluated that
there are different tasks which might be confronted by company during execution within an
organization. These are lack of understanding regarding experts regarding the execution of
technology as well as, cost of technology (Budiarto, et al., 2018).
Research Questions and Research Objectives
The key intention of this investigation is to assess the execution of tool in accounting and finance
sector. The given below purpose of this stuyd would be entailed by researcher for attaining the
task of investigation:
 To discover the role of technology in accounting and finance
 To explore, the challenges faced by the organization to implement IT in accounting and
finance

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 To recommend for improving the implementation of IT implementation in accounting
and finance
Research question
 What is the role of technology in accounting and finance?
 What are the challenges faced by the organization to implement IT in accounting and
finance?
 Which strategies are used by the organization for improving the implementation of IT
implementation in accounting and finance?
Outline the structure of this proposal.
Introduction
By using an introduction chapter, the investigator will be able to understand some components
like purpose of objectives of research, study issues, and scope of project as well as, structure of
dissertation. It could lead to attaining the research in particular cost and time.
Literature review
In this chapter, the investigator will be able to enhance conceptual understanding of aspect of
investigation. It could be imperative in accomplishing particular aim in the least time. The
literature review chapter involves some secondary sources like online, offline sources. It can be
advantageous to gather theoretical data towards research concern. These sources could be
effective to collect favorable outcome with respect to current concerns (Budiarto, et al., 2018).
Research methodology
Under the research method chapters, several approaches will be implemented that is supportive
for attaining the research concern. These tools are research strategies, sample, data collection

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tool, data analysis tool, and research type. It could be effective in attaining the research acts by
choosing an appropriate tool in conducting the study (Puasa, et al., 2019).
Theoretical Background/Literature review
According to (Diatmika et al. (2016) determinant of behavior intention related to accounting
information system and it is based on acceptance of information technology. It also demonstrates
that self-efficacy, task technology, subjective norms, and perceived usefulness. It has empirically
proved the effect of behavior intention as well as, illustrates that technologically fit could be
strongest construct influential. This article illustrates that perceived ease of use, personal
innovativeness; perceived behavior control in information technology has no effect on
purchasing intentions.
In contrast to this, Maiga et al. (2014) illustrated that the way advancement in information
technology can highly affect the business accounting system. It also afterward has influenced the
performance of business. It also determines that practicing hierarchical regression evaluation
indicates that information technology integration and controlling system does not provide
effective independent impact on financial performance. They also favorably affect the financial
performance related to manufacturing plant.
As per the view of Muda et al. (2017) the information technology can create the impact of
accounting procedure in several ways. The result of this investigation is associated with practices
of information technology and human resource competency has favourable and significant effect
in the context of regional financial accounting system within Labuhanbatu Regency, Indonesia.
In contrast to this, Trigo et al. (2014) evaluated the execution of accounting information system.
Moreover, it defines that there is higher rivalry among demand of enterprises for advanced
information. It makes capable to the management in order to promptly adapting the opportunities

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as well as, responding the concerns. It also addresses the real-time accounting along with,
addressing the requirements. But, there is need for advanced responses of technology.
As per the view of Otley (2016) information technology plays an effective role in diverse aspect
regarding our lives. It has observed the similar with accounting and finance. However, in
existing times, accounting is considered as an essential process for recording and evaluating the
financial dealings as well as, summarizing them.
On the other hand, Mihret and Grant (2017) evaluated that the evolution of finance and account,
and IT has increased as compared to modified approach by which, On the other hand, Susanto,
(2018) evaluated that the evolution of finance and account, and IT has increased as compared to
modified approach by which, all processing can be restricted. According to Puasa, et al. (2019)
technology has a high impact on business operation. Since finance and accounting entails high
transformations and flow of effective business aspects, IT can ensure that information has arrived
safely without breaches of security. They have addressed how accountants within Australia are
executing electronic bookkeeping since it eliminates their efforts like measurement and
knowledge of numbers.
In contrast to this, Budiarto et al. (2018) illsutrated that information technology could highly
recognize between corporations as it reduces the complexities of manual procedure. It is
effective for providing training to individuals about IT, therefore, they can create significant
aspect for practicing same. There are possibilities for reducing errors and gaining efficiency.
According to Wagner (2017) computerization not only provides the security but also, delivers the
feasibility and making sure the clarity that works will be performed within specified time. It is
evaluated that IT (information technology) created easier to procedure of bookkeeping. It could
now perform appropriately as compared to manual accounting. The impact of modern IT

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(information technologies) in companies is established and broader in several ways. The recent
development is created in accounting as well as finance sectors by implementing intranet,
internet as well ass, ERP software within the organization. There is some of technological aspect
that provided widespread practices specifically internet has transformed the way that a company
performs and accounting firms.
On the other side, Busco and Quattrone (2018) evaluated that continuing increasing with
transforming sector has an imperative impact on acts of managers at all extent of corporations. In
existing scenarios, research within transformation structure as well as, management accounting is
coming active for starting with integrated information practices such as enterprise resource
planning systems. In such manner, IT is originated as a brief name with respect to management
related to use of IT within an organization.
According to Mancini et al. (2017) the rapid creation within IT depicts both opportunity and
potential risk associated with accountant’s manager. By avoiding potential risk associated with
accountants could use new IT for enhancing the role within an organization. In support of this,
Dai and Vasarhelyi, (2017) evaluated that earlier to the 1960s, accountants were perceived such
as bookkeeper whose responsibility is to ensure that record was kept. An accountants create
struggle to battle in against recording failure.
In contrast to this, Lugovskу and Kuter (2019) stated that at the time of the 1960s, accountant
was able to create response with respect to requesting the managers for reports associated with
business activities. In addition to this, computers provide more efficient indication for keeping
the books and offering prompt access to accountant regarding financial information in the
context of reporting intentions.

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According to Kwarteng and Aveh (2018) currently, the manner where accounts can effectively
deliver the value about the societies together with economical business is practicing for making
the transformation. There are some traditional accounting tasks that deal with processing and
recording associated with accounting transaction can be constantly computerized. Hence,
accountant could focus on incremental value to firm for longer period.
In contrast to this, Do, et al. (2018) company should provide independent assurance and
integrating strategic knowledge rather than emphasizes on accountant value. It is currently
demonstrating the higher-order critical thinking capabilities such as developing e-business
model, integrating strategic knowledge, designing business process along with, providing
independent assurance.
In the view of Avgerou and Walsham (2017) conventionally, examination in IT has focused on
research of processing information on creation of new structure, security of computer structure,
and leaving for research the relationship between accounting and information technologies.
Under some research, it is evaluated that relationship is included for shorter time period due to
taking into consideration regarding outdated tools.
On the other hand, Walker (2016) evaluated that research on management accounting and
integrated information system has entailed different lines of research. Some field has large
significance with respect to management accounting manners in which others can focus on ways
of information system. But, for understanding the emergent technologies as well as, identifies the
effects of accounting, one need for understanding the effects of recently updated about the
technologies.
In the view of. Laudon and Laudon (2016) the modern IT tool could demonstrate the
development link as well as, effective component within structured data system which is

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demonstrated via high-tech information. The data sharing acts could provide a chances among
persons could be focused with respect to networking related to informal reasoning. For
illustration, electronic discussion board that will be competent to strength association with
diverse economic associates that will involve exchange of data with ideas between associates.
In contrast to this, Qin (2017) evaluated that this structure is related to one which uses some of
proficient machineries that are known as calculators and computers for gathering information. It
is electronic data processing in technical manner. In support of this, Ruggeri and Rizza, (2017)
evaluated that the accounting system is a practice in which computers relied on and accountable
for processing the information similar to way as of manual practices. In current times,
transactions are recorded conventionally on sourced documents as well as, documents are
combined to punch cards which are comprehensible through computers.
As per the view of Ye (2019) opined that computers are accountable for processing and
performing the data with other routine activities such as posting a journal to ledger accounts,
measuring as well as demonstrating balances, as well as, lastly depicting financial statement. An
accounting structure is used to do the information through computerized and free online
Merriam. It also ensures the users for putting input into transaction in system after all required
updates for completing accounts.
In contrast to this, Theriou (2015) evaluated that electronic information seems to remain to strive
as of their synthetic as well as, theoretical character. For demonstrating the trust by the manager
and giving credit to employees for their good performance, manager can conduct impersonal
communication. It is not highly realistic that IT is used for making good decision and providing
effective information each time. The maker of decision has need of data that is known with
presented in advance. In case, such type of estimation is used to make and that could not be

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possible while surrounded through complex solving of problem. But, it signifies the worthy
assistance in exploration to manage the targeted information in making decision.
Research Design and Methodology
In this study, this section is imperative for aspect with respect to select diverse tool for
accomplishing the study. In this, there are the different section which is employed by investigator
to get depth information about research named as research types, research approaches, data
collection tools, and ethical considerations (Ahmad, et al, 2016).
Type of research (exploratory, descriptive or causal)
In this study, there are certain types of tools that are considered to meet the study purpose named
as exploratory, descriptive, as well as explanatory method. In this, the descriptive research tool
could be practiced by investigator as it supports to determine research theme by offering the
depth information towards the study matter. Further, exploratory study is associated with
evaluating the research hypothesis. With respect to this, the explanatory method is determined as
the tool that is practiced for evaluating causes and effects relationship between two and more
variables (Hadi, et al., 2018).
For conducting this study, the descriptive research method will be practiced by investigator
which can facilitate to investigator to illustrate about the role of innovation in the information
tool in the modern accounting structure as well as finance. Further, this study type will be
imperative to get opinions and views of research participants about study matter. Apart from this,
the researcher will not be practiced the exploratory study types as research matter is not
considered new and fresh for study. Further, the researcher will not imply the explanatory
research due to lack of cause as well as effect relationship (Ruggeri and Rizza, 2017).
Research approach (quantitative, qualitative or mixed approach)

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Mixed research method will be practiced by scholars to meet study issue. This method will also
facilitate to get theoretical and conceptual information about the study issue. However, research
approaches could be practiced for evaluating the strengths and weaknesses by considering both
qualitative and quantitative method (Muteti, et al., 2018). In this, the qualitative research strategy
will support to get theoretical information about research matter. In addition, it is evaluated that
the qualitative research method will be implied by the researcher to evaluate the reactions
captured by research candidates (Dai and Vasarhelyi, 2017).
Type of data will be used (primary or secondary data)
With the aim of this, both secondary and primary data gathering tool will be implied as it assists
to get factual and not-factual information in limited responses (Susanto, 2018).
Through this way, the research scholar could avoid the issues of secondary as well as primary
tool. In this, the primary information-gathering tool will b practiced as it collected by survey
through questionnaires. This tool supports to get innovative and fresh data towards the concern.
This tool will be could be supportive to capture views and opinion of the research candidates in
the context of the existing concern. Further, secondary data would be practiced by enabling the
different sources named as government report, publications, textbooks, and academic
publications (Schaltegger and Burritt, 2017).
Data collection
With respect to this study, the researcher will imply both survey through questionnaire and
interview method. It can be imperative in getting depth data towards study issue. These methods
will allow the research scholar for getting the conceptual and factual data by entailing such
methods in the study. It would also facilitate to increase reliability as well as validity of the study
(Alrabba and Ahmad, 2017).