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BUS707 | Impacts and Significance of Technology Implementation in Acco

Identify relevant sources for their research and undertake review on a theoretical concepts/constructs that has real world business implications

1. Brief summary of the theory and progression in the field (i.e how has the theory developed) 
2. Common themes/findings across the four articles 
3. Different themes/findings across the four articles 
4. Managerial implication of the four articles 
5. Study limitations and future research direction proposed in the four articles

Answer:

1. Summary of theory

Information technology (IT) along with accounting stems from diverse background along with history. Essentially, accounting has been exercised since the period of 8500 BC until today. However, there are not different alterations to the way different accounts are properly maintained. Again, IT is altering fast and varying each and every day. Novel technologies, established these days, become outdated within a few months. Ismail and King (2014) stated that the impact of IT is necessarily said to be unavoidable, since it would direct towards competitive advantage and development in business (Moorthy et al. 2012). Fundamentally, application of information technology in particularly management accounting has been well-liked in recent times, since business concerns observed the significance of management accounting to their advantage (Teittinen and Granlund 2017). Several accounting studies essentially have integrated IT paper as an integral part of accounting program to initiate IT to accountants of the future period (Ismail and King 2014). In addition to this, the initiation of IT in basically accounting particularly financial as well as managerial accounting is indisputable. As correctly mentioned by Ismail and King (2014), information technology is a area to investigate from personal computers. Therefore, this current study concentrates on the pertinent technology modified to management accounting for example, multimedia technology together with management accounting utilizing internet


. The main concentration is placed on influences and insinuation of application of information technology in the area of management accounting.

2. Common themes otherwise findings 

The common themes and findings across of the four different articles are as mentioned below:

The article titled “:Application of Information Technology in Management Accounting Decision Making” penned by M. Krishna Moorthy, Ong Oi Voon, Cik Azni Suhaily Binti Samsuri, M. Gopalan and King-Tak Yew presents significance of information technology particularly management control. Fundamentally, this explains a theme that stresses on the fact information technology is an important tool that can help a firm in attaining success. As such, management accounting delivers information regarding budget, status on capital investment, specific payback period to different internal users along with decision makers (Moorthy et al. 2012). This study elucidates in detail conventional management accounting approach and contrasts management accounting with information technology. Also, this assesses application potentials of IT in the area of management accounting. Further, this examines different benefits of carrying out of IT in the area of particularly management accounting.

The article titled “Impact of Information Technology on Accounting Systems” penned by M Francis Pol C. Lim also emphasizes the fact that advancements in IT have to a great extent assisted the systems of accounting of corporations. Due to computerized accounting information systems of current days, performance of corporations appears to have improved. Also, the main theme of the article also stresses on processes of business transaction that were simplified and generated effective operations (Lim 2013). In addition to this, the affordability that is the reasonable price of the advanced technology for different small sized business corporations generates huge opportunities for the business entities to enhance their business operations.

The article “The Effect of Information Technology on Accounting System’s Conformity with Business Environment: A Case Study In Banking Sector Company” written by Lina Klovien? a,1, Edita Gimzauskiene presents the fact that information exerts an impact on accounting procedures in different ways. Firstly, the accounting mechanisms and know-how of the business and industry has enhanced to make sure reliability along with relevance of documents, declarations and data. Secondly, the accountant has to comprehend overall transaction flow and associated control actions to make certain and reliability of information (Klovien? and Gimzauskiene 2015). As per research outcomes, the requirement for recognition, evaluates and verification of probable alternatives for resolving unconformity issues of accounting system can be found. Information technology assists to make certain conformity between system of accounting and the environment in which the business operates. The theoretical structure contributes towards literature of accounting by assuming analysis of an information technology that forms and makes certain conformity procedure between system of accounting and business environment in which corporation functions and introduces the issues encountered in conformity identification procedure.

The article titled “Accounting Information Systems and Decision Making” written by Hongjiang XU presents implementation of Accounting Information System/Enterprise Resource Planning that is an intricate procedure, with many facets influencing the successful execution of these systems. Essentially, this study at hand explicates the fact that implementation of advanced technology is said to be important for the purpose of decision making as well as managerial accounting perspectives, since the AIS/ERP systems are not merely systems that create data from daily operations and reporting (Hongjiang 2011). As such, they are also said to be intricate tools for delivering requisite information for decision making as well as controlling of businesses. The common theme is that this article too describes illustratively the way implementation of advanced technology of AIS/ERP delivers support to business processes by assisting managers in decision making. This article elucidates in detail the way ERP/AIS effectively stores critical information along with knowledge that is utilized to make the decisions that drive performance of a business concern (Hall 2012).

3. Different themes/findings across four different articles 

The theme of the first article is about contrasting and scrutinizing conventional accounting advance and management accounting with information technology. Also, the study at hand explicates overall potential of IT applications in the area of management accounting, the benefits along with limitations. Also, this study stresses on the need for transformation in education of accountants by enhancing overall knowledge of systems of information and knowledge of IT. Furthermore, this study reveals that there are the cost aspects of IT since implementation of the same can lead to huge expenditure on hardware, IT personnel along with advanced software (Teittinen and Granlund 2017).

Therefore, theme of this article mainly highlights the costs along with benefits of the system that consequently helps in critically evaluating the way technology can affect efficiency and produce outcomes readily.

The second article too explains in detail the way advancements in information technology can greatly aid accounting systems of business and subsequently business performance on the whole. However, this study is quite different from the others as this also advocates the fact that information technology implemented in the area is not perfect (Cleary 2017). This study takes into consideration the fact that information technology have enhanced the processes of accounting but the computers cannot necessarily replace role of man in the area of systems of accounting.  

The third article explains the fact that information technology exerts impact on processes of accounting in different ways. Essentially, this study is quite from others as this demonstrates overall role of information technology in agreement between systems of accounting and environment of business in which it operates. This study adopts a holistic approach to elucidate the variation between the utilization of system of accounting in static or dynamic environment together with simplistic or absorption internal reaction of a business concern.

The fourth article on accounting information system and processes of decision making presents a different theme that explains different factors associated to quality of data, controls of management accounting and human associations that can exert impact on appropriate execution of AIS/ERP. Also, this study is quite different from others as this study emphasizes the way successful execution of AIS direct towards greater confidence in arriving at decisions in business concerns. Again, this study also considers Technology Acceptance Model (TAM) in the area of execution of ERP. This study also takes into account MAC exercises, issues of quality of data, specific human facets and factors of confidence in process of decision making. Essentially, the outcome of this study can reflect diverse critical success factors that are there for their execution and the factors influencing MAC exercises.

4. Managerial insinuation of four different articles 

The first article helps managers to understand the fact that implementation of technology is necessary and can be considered to be optimistic. The study can help managers by delivering insights regarding gaining assistance with respect to different gains delivered by the specific technological advancements. Essentially, this can prove to be beneficial for everyone that includes shareholders, employees as well as management personnel. The mangers can comprehend the fact that implementation of technology need to be incorporated as their importance is undeniable. Therefore, the executives are relying on information technology for delivering the necessity that administration failed to deliver (Pearlson et al. 2016).

The second article carries certain managerial implications as this study aids in explaining the way information technology, system of accounting information can affect procedure of accounting. The managers can understand the way computerized accounting information systems can enhance performance of business (Richardson et al. 2014).

The third article helps practitioners in different ways as this study presents insights regarding opportunities of accounting system in a different environment of business. This business environment includes less widely researched area of business that is mainly service-sector (for example, banking) firms.

The fourth article assists management accountants along with IT managers to recognize significant successful facets that influence AIS/ERP execution, by concentrating on different factors that can enhance the likelihood of successful execution and performance of the systems.

5. Restrictions and future directions of research

The limitation of the first article is that it due to short span of the research, this research article has failed to analyze execution of information technology (IT) in the module of management accounting of individuals. Also, the study also does not highlight details regarding cost IT execution in the area of management accounting. Moreover, there is a future need to present the list with explanation of different effective technologies that are available in the current market. Again, the second article does talks about the processes of implementation of technology and factors affects (assisting or impending) the processes of implementation. The limitation of the third research article is that inference of this study are founded on only one bank, using pertinent document analysis along with interview data acquired from only 6 target respondents. The fourth article does not mention about the way the system delivers potential advantages for particularly decision support.

References

Cleary, P., 2017. Introduction to Accounting Information Systems. In The Routledge Companion to Accounting Information Systems (pp. 25-34). Routledge.

Hall, J.A., 2012. Accounting information systems. Cengage Learning.

Hongjiang, X.U., 2011., Accounting Information Systems and Decision Making.

Ismail, N.A. and King, M., 2014. Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms. Journal of Information Systems and Small Business, 1(1-2), pp.1-20.

Klovien?, L. and Gimzauskiene, E., 2015. The effect of information technology on accounting system's conformity with business environment: A case study in banking sector company. Procedia Economics and Finance, 32, pp.1707-1712.

Lim, F.P.C., 2013. Impact of information technology on accounting systems. Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology, 3(2), pp.93-106.

Moorthy, M.K., Voon, O.O., Samsuri, C.A.S.B., Gopalan, M. and Yew, K.T., 2012. Application of information technology in management accounting decision making. International Journal of Academic Research in Business and Social Sciences, 2(3), p.1.

Pearlson, K.E., Saunders, C.S. and Galletta, D.F., 2016. Managing and Using Information Systems, Binder Ready Version: A Strategic Approach. John Wiley & Sons.

Richardson, V.J., Chang, C.J. and Smith, R., 2014. Accounting Information Systems. McGraw-Hill Irwin.

Teittinen, H. and Granlund, M., 2017. Accounting Information Systems and decision-making. In The Routledge Companion to Accounting Information Systems (pp. 103-115). Routledge.

Teittinen, H. and Granlund, M., 2017. Accounting Information Systems and decision-making. In The Routledge Companion to Accounting Information Systems (pp. 103-115). Routledge.


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