A Study on Technology Implementation in Accounting and Finance Module

This report critically reviews four articles focusing on the implementation of technology in accounting and finance, with a specific study on Pitcher Partners. The introduction highlights the importance of accounting and finance in providing stakeholders with relevant information, emphasizing the role of technological advancements in enhancing efficiency and maintaining a strong brand image. The main body of the report delves into each article, summarizing key themes such as the use of artificial intelligence, robots, and chatbots, the evolution of technology in the accounting profession, the impact of IT on modern accounting systems, and the ways technology has changed the industry. Common themes across the articles include the transformational impact of technology, the need for professionals to adapt, and the opportunities for business development and improved decision-making. The report further explores different themes, including financial projections, cloud-based systems, and specialized accounting software. Managerial implications derived from the articles suggest that technology implementation can improve professional performance, increase product efficiency, and enhance decision-making processes. The report concludes by acknowledging study limitations, such as the lack of focus on retail companies and the need for further research on accounting software within workflow management and business planning. The references include a list of books and journals consulted during the research.

Articles Collection And
Structured Literature
Review

Topic:...............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Brief Overview of Theory and Progression in the Field........................................................2
Common Themes/Findings across the Four Articles.............................................................2
Different Themes/Findings Across the Four Articles.............................................................3
Managerial Implication of the Four Articles..........................................................................4
Study Limitations and Future Research Direction Proposed in the Four Articles..................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

Topic:
Technology implementation in accounting and finance. A study on Pitcher Partners.
INTRODUCTION
Accounting and finance are two most important sections through which people came to
know about working style of an organisation (Fu, Carson, and Simnett, 2015). There is
requirement of complete and relevant information to stakeholders about working performance to
maintain loyalty and trust. In current market, there is technological development through which
it is easy for managers to publish their performance and working in front of stakeholders. Hence,
organisations are implementing technology in their current working style through which they can
perform actions with more efficiency and maintain good brand image in industry. In this report,
there is discussion about critical review of four articles which are related to accounting and
finance.
MAIN BODY
Article 1:
The Digital Transformation Of Accounting And Finance - Artificial Intelligence, Robots And
Chatbots.
Authors: Bernard Marr
Article 2:
The Evolution of Technology for the Accounting Profession.
Authors: AGNES ANN PEPE
Article 3:
The impact of Information Technology (IT) on modern accounting systems
Authors: Maziyar Ghasemia, Vahid Shafeiepourb, Mohammad Aslanic, ElhamBarvayehd
Article 4:
5 Ways Technology Has Changed The Accounting Industry In The Last 5 Years
Authors: Jen Ledger
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Brief Overview of Theory and Progression in the Field
Overview of Article 1st:
In this article, there is discussion about that these days, there is use of different
technology through which it is easy to perform accounting and financial operations through
artificial intelligence, robots and chatbots. This is covered under 4th Industrial revolution under
which time can be saved and performance is done with more efficiency. As per change in
technology, there is growth and development in opportunities for organisations and they can
perform actions with more efficiency.
Overview of the Article 2nd:
In current market, there is evaluation of different techniques through which it is easy for
professionals to perform actions in better and efficient manner. As there are many clients with
professional, so it might be tough for them to provide appropriate services to clients through
which they can perform actions in better and effective manner. There is difference in accounting
concepts as well as international level, hence it is easy for managers to bridge gap between local
and international accounting concepts. There is scope of growth and development through e-
commerce and get diversified opportunities.
Overview of the Article 3rd:
With use of It in accounting system, organisation is able to perform actions in better and
effective manner. Companies are able to work with use of computerised technology and maintain
their record in synchronise manner. There is requirement of internet connection and computer
systems, through which accounting concepts can be achieved. There is proper management
decision by analysing different accounting concepts.
Overview of Article 4th:
In this article, there is discussion about 5 ways due to which technology gets affected.
This change is happened because of technological development in industry and in order to
sustain in industry, organisations have to accept different changes as well. Roles of accountants
are more diverse because they have to handle data through online and electronic sources.
Common Themes/Findings across the Four Articles
In four articles, there is discussion about transformational of technology in concept of
accounting system. There is requirement of internet and computer system through which
professional can perform their roles and responsibility. It is essential for professional to
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understand it because they have to provide services to clients. In these article, it is clear that with
use and implementation of new technology there is development of business score and it is easy
for managers to provide their accounting concepts as well. There is diversified opportunities for
organisations because they can access different sources through which scope of growth can be
identified. There is ease in decision making because it is easy for managers to take decision
making and get information quickly. In case of any issues, most is easy for managers to access
financial information because all the data are computerised which is most appropriate and exact.
There is use of specialised accounting software through which it is easy for professional to get
correct and authentic information. There is difference in accounting concepts, so it is easy for
managers to bridge gap between it and get accurate and correct information.
Different Themes/Findings Across the Four Articles
As per first article, it is clear that there is use of financial projection through artificial
intelligence, robots and chatbots because they have knowledge about what is required by
managers. They are ready with incorporating human brain power, hence it is easy to procurement
of resources properly for completing tasks. There is ease in auditing of books of accounts with
which it is easy for managers to understand changes in proper manner.
Second article through light on technological changes which occur in accounting and
financial sector. There is ease in working efficiency of accounting professionals because they can
easily perform actions in better and effective manner. There is growth of business because of e-
commerce and hence there are different opportunities which assist in getting growth and sustain
in industry for longer time.
Third article focus on implementing Information Technology in accounting sector. There
is use of different policies through which it is easy for managers of company to perform their
actions in better and effective manner. There is requirement of IT solution and computerised
system with which financial projection is easy for stakeholders.
Four article focus on 5 ways due to which technology affects accounting industry. Cloud
based system, difference in roles and responsibilities of accountant, efficient and effective
control over transactions, use of mobile technology for accounting purpose, use of specialised
accounting software, etc. these are the ways through which accounting and financial sectors are
affected with use of different techniques. In current market, there is use of advanced and smart
technology which is crucial to get success in industry.
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Managerial Implication of the Four Articles
In terms of managerial implications as per according to four different articles that has been
undertaking in present research, it has been noted that use of internet and computer system can
effectively benefit in professional manner with the help of which roles and responsibilities can be
performed. As per the basis of the following articles it becomes essential for professional to
effectively undertaken use of digital implication as to offer best effective services to their clients
Implementations of different technological measures organisation can increase their product
efficiency. Thus with the help of these organisations can able to expand the area of opportunities
and further increase growth prospects. In addition with this with the help of this manager can
effectively able to make decisions thus; implementation of new technology within each and
every department is required to be done with the help of experienced individuals. Thus after
analysing for selected articles effective implications of Technologies control standards cost can
be effectively measures by organisation that further help in anticipating product expenses. Thus,
with the help of technological implications management can effectively able to measure the
performance as well as output. In addition with their production of volumes, product defects,
lead and delivery times can be further measures that lead towards consumption control. This all
can be sustain with the implication of custom accounting software that further help in conducting
financial activities in a smoother manner that further help in managing company products and
other related relevant information’s.
Study Limitations and Future Research Direction Proposed in the Four Articles
Despite of having different managerial implications present research which is based on four
different articles have certain limitations which are required to be effectively addressed as to
initiate further study in best effective manner. From analyzing the four selected articles it has
been gathered that the implications of accounting systems customization did not focus on
analyzing the implementation of accounting systems in improving complexity of retail
companies business. In addition with future research will effectively focus on evaluation role of
organisation accounting software within organisation workflow management as well as business
planning. Further it has been identified that present researches did not effectively have focus on
evaluating development cost that will help in implicating accounting software development. If it
is being considered in such cap it is essential for future research to study utilisation of modern
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custom accounting system within organisation as to track financial Matrix as to further operate
that business efficiently.
CONCLUSION
As per the above mentioned report it has been concluded, that present project has been
conducted on four different articles the main aim of project include Technology implications
within accounting as well as Finance. It has been further analysed that accounting and Finance
acts as a most essential sections with the help of which organisation conduct their operations in
effective manner. Thus, it essential to undertake digital transformation in accounting and Finance
segment as to increase efficiency of services to clients in best effective manner.
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REFERENCES
Books and Journals
Fu, Y., Carson, E. and Simnett, R., 2015. Transparency report disclosure by Australian audit
firms and opportunities for research. Managerial Auditing Journal, 30(8/9), pp.870-
910.
Espinosa de los Monteros Darnaude, N., 2019. Blockchain Technology. What is it, where is used
and a practical application.
Vargha, Z., 2018. Performing a strategy's world: How redesigning customers made relationship
banking possible. Long Range Planning, 51(3), pp.480-494.
Schmidt, A.E., 2017. How to escape the Valley of Death? A case study of innovative energy
technology projects in the European Union (Master's thesis).
Fernandes, D.A., Costa, A.A. and Lahdenperä, P., 2018. Key features of a project alliance and
their impact on the success of an apartment renovation: a case study. International
Journal of Construction Management, 18(6), pp.482-496.
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