Introduction (Research Topic)

The emergence of information technology in accounting is an innovating a system. Almost all evaluative studies have tried to identify the benefits of IT use. The chosen research topic for the discussion is “Technology (IT) used in accounting field”. Information technology is present in most office’s accounting via computer, printer and many others. For example, one can go online and check cash balances or upload journal entries by the use of accounting software. These include an increase in profit, cost reduction or displacement, improved information, time savings, professional performance, reliability, s
taff satisfaction, strengthening competitive position, speedy transfer of data and better or new client service (Flamholtz 2012). However, companies will least technological exposure often face many difficulties to accommodate such facilities in their existing database. This has been found in the several previous studies that above 60 percent of accounting fraud and errors are found due to simply book-keeping errors (Rogers 2016). Despite the use of technology-based accounting system, organizations are facing challenges due to the presence of unqualified accountant, huge administration costs. This researcher will explore a brief literature regarding the research topic providing the justification of research topic. Moreover, the research methodology will also develop to make the entire research apt and structured. 

Literature Review

Accounting is all about the art of recording, classifying, summarizing in a significant manner and interpreting true and fair financial results thereof. Advancement in information system has dramatically improved the entire system of accounting and transformed economic life. This may also be described as anything that renders information, perceived knowledge and data in any visual format through any multimedia distribution mechanism. Applying technology in this business context, organization incorporates and implements improved technological format and supports management an in their day to day operations and decision making (Mancini, Dameri and Bonollo 2016). The elements of the General Model of Accounting Information System include end users, sources of data, the collection of data, and management of the database, generate information and feedback.

Figure 1: General Model of Accounting Information System

(Source: Coyne, Coyne and Walker 2016)

The objective of this technological accounting model is to provide valid, complete and free material accounting data and information about the company (Bai, Koveos and Liu 2016). According to Sands, Lee and Fonseka (2016), the system generated accounting records and financial reports are generally conveyed quickly for external users of the business includes creditors, investors, regulatory agencies and suppliers, customers. However, Johnson, Li and Dulebohn (2016) contradicts that bookkeeping services which early accountants provided to businesses declined in value as advances in technology development gathered pace.

Research objective:

The objective of this research is to identify knowledge about the relevant information technology and skill required to present such knowledge to present accounting in the most appropriate manner.

Research questions:

How technology used in accounting field?

What are the advantages and disadvantages of technology used in accounting practices? 

Rationale of the research topic

There are many studies found which talked about general IT knowledge and skills, requires for practitioners of accounting. However, many organizations often hesitant to use technology-driven accounting system because computerized and the analytical aspects of accounting acquired increased support from financial modeling packages which indeed beneficial for technological perspective, however it leads many complications during its practical implications such as user’s inability, less technical well-versed or technological capabilities, implementation difficulties and cost of technology. However, the research questions will identify that technology improves the performance of the accounting practices and helps to keep error-free accounting records. Examining research questions the researcher with identify the role of technology in accounting practices.

Research Methodology with Gantt chart

It will discuss the types of research and the factors that influence the choice of design of the research and methods of collection of data. Here the researcher believes to provide a detailed research design for better understands the research problems. The research would include the human interest into the study including different opinions of accounting practitioners. Therefore, the paradigm of the research would lean towards interpretivism approach. 

Gantt chart

References:

Bai, L., Koveos, P. and Liu, M., 2016. Applying an ontology-augmenting XBRL model to accounting information system for business integration. Asia-Pacific Journal of Accounting & Economics, pp.1-23.

Coyne, J.G., Coyne, E.M. and Walker, K.B., 2016. A Model to Update Accounting Curricula for Emerging Technologies. Journal of Emerging Technologies in Accounting.

Flamholtz, E.G., 2012. Human resource accounting: Advances in concepts, methods and applications. Springer Science & Business Media.

Johnson, R.D., Li, Y. and Dulebohn, J.H., 2016. Unsuccessful Performance and Future Computer Self-Efficacy Estimations: Attributions and Generalization to Other Software Applications. Journal of Organizational and End User Computing (JOEUC), 28(1), pp.1-14.

Mancini, D., Dameri, R.P. and Bonollo, E., 2016. Looking for Synergies Between Accounting and Information Technologies. In Strengthening Information and Control Systems (pp. 1-12). Springer International Publishing.

Rogers, A.D., 2016. Examining Small Business Adoption of Computerized Accounting Systems Using the Technology Adoption Model.

Sands, J., Lee, K.H. and Fonseka, K.B.M., 2016. Advancing sustainability management accounting in the Asia Pacific region. Accounting Research Journal, 29(2).