The Research Problem
Accounting field is observed to be dynamic as well as wide in itself in a way that the management is to be taken care in a better manner. In order to make it appear highly simple innovative methodology is deemed to be controversial (Askarany 2015). In contrast, as it turned out to be convivial in one hand and at the same time it has certain drawbacks on the other hand. The drawback can be in the form of incompatible workforce or accountants for using the software based advanced accounting. Conversely, in manual accounting processes, software stores all distinct heads within the same file (Zhang and Wang 2015). For this reason, its safe storage acts as a security challenge. These serve as the major issues at the time of implementing innovations within business. The major objective of the current study is to deal with the identified research problem in order to implementing certain effective solutions.
For addressing the recognized research problem and in order to decrease the negative impacts over positive for increased efficiency. In situations where, technological innovations take place at an alarming speed is important to analyse the impacts of accounting profession in an identical manner as it has affected every factor related with daily life of humanity (Zhang and Wang 2015). Technological changes within the accounting is transformed within something that is more than simple recording, recording, summer sizing of the necessary of transactions extending all over the company. Within the profession of accounting, technology has attained its importance within the ascent of accounting consultancy.
In the field of accounting, the busineses all over the world has gone through drastic technological innovations. Moreover, this has also resulted in changes within the company’s internal processes (Becker, Wald, Gessner and Gleich 2015). It can also be considered that in certain accounting conducts within the organizations has turned out to be competitive with the use of efficient technological resources as such investments within technological infrastructure is deemed to support the organizational performance as well as its current and future decisions. Within the profession of accounting, technology has attained its importance within the ascent of accounting consultancy (Becker, Wald, Gessner and Gleich 2015). Certain impacts on the accounting professionals might take place from the result of IT innovations. The advances within communication along with revolution within information has resulted in setting landmarks within the accounting profession. Due to increased advances in technology the advent of internet use stands out that offers necessary information regarding monitoring along with virtual transformation (Becker, Wald, Gessner and Gleich 2015). The integrated use in the network computers along with internet have resulted in new information era. Due to certain technological changes, the accounting companies requires to heed and remain prepared for such improvement specifically concerning the accounting operations. Technology has also resulted in increased reliability and agility of the information systems facilitate the accountants to implement their functions in an agile manner (Becker, Wald, Gessner and Gleich 2015). The international factor of the technology contributes to accounting and its competitiveness as the technological innovations indicate increased speed along with accounting services efficiency.
Research Background
The current research paper will focus on analysing and summarizing the research reading innovation within accounting to analyse the success of innovatively developed business along with its impact within a company’s business practices (Chang, Fu, Low and Zhang 2015). Innovation is employing the innovative along with modern methodology and technology within the business operation. In the previous years, the finance, business along with accounting task employed to take an increased amount of time in order to accomplish a study. Taking it into account that the accounting task can be made extremely easier in the current years of accounting that innovation has a vital role (Chang, Fu, Low and Zhang 2015). Such innovations are intended to have negative as well as positive effect within the accounting sector.
One of the important issues that might take place in the qualitative research is a considerable clash in the open as well as hidden research, its privacy along with right of the society to get to know and be clear on it (Chang, Fu, Low and Zhang 2015). Material related with the qualitative analysis is observed to be dispersed within the internet medium that can be served to organize along with arranging requirements, qualities and needs to maintain well-being and certain other services. At the time the internet makes enough effort available for the researchers this decreases the limitation of segregation and time. Conversely, such research also results in developing new concerns regarding morals along with educated agreements along with its security (Chang, Fu, Low and Zhang 2015). This leads to develop questions regarding reliability, validity related with the research work. For this research, trust also serves as a vital aspect of the qualitative research. In maintaining ethical considerations of the current research, it will value the ethical issue that is caused in every business along with maintaining clarity and sincerity observed in the study (Bloom, Draca and Van Reenen 2016). The researcher will also make sure that the current research is the sole of the researcher and the secondary data has been gathered from authentic sources through offering credibility of the resources employed within the study.
Literature review carried out for this research offers a holistic explanation which facilitates in implementing a pedagogy which can be implemented within the study. It indicates an overall image accounting innovation along with its drastic impacts within company performance. Revellino and Mouritsen (2017) signified that innovation served as an innovation in the field of accounting. In order to make an efficient presence within the industry use of innovative applications within the accounting process of organizations is important. This is deemed to gradually increase organizational performance in consideration to managing its ability within company’s profitability and business operation (Sargiacomo 2018). The literature review section in this research indicates the aforementioned prospects. Such prospects are considered to encompass background, objective question, statement of problem along with solutions and ethical consideration for the research.
Ethical Consideration
For the reason that the currency business world is turning out to be complex with years, the companies require to prove themselves to attain competitive existence in the market (Robson and Bottausci 2018). They require to expand their new accounting technology within the industry to the companies in order to enhance effectiveness of accounting innovation implementation for attaining better results. Accounting invention is facilitating the companies in enhancing efficiency along with increasing the budget. Considering the same, the literature review section is focused on explaining the ways in which the modern accounting software is advantageous along with resulting in certain limitations. Moreover, the measure can be regarding incompetent employees in order to enhance performance of the accounting software. Saeidi, Othman, Saeidi and Saeidi (2018) stated that in order to deal with such issue individuals must be aware regarding the trend of innovation and execution of new accounting technology. This is anticipated to decrease likely mishandling long with resource mismanagement within the organizations. In similar manner certain development within the within working pedagogy is focused on making tools unsafe as well as insured. This is for the reason the organization employs these tools focused on which its competitors attempt to extract the information from the same. Summers and Wood (2017) stated that unlike the manual accounting process such automated system stores everything within the same file. For this reason, unlike manual accounting process such automated system stores confidential data that is deemed vital in making these safer along with secured organizations must hire experienced expert (Bloom, Draca and Van Reenen 2016). Accounting innovation implementation within the organisation needs constant upgradation along with advanced investigation that must be made within the account by the organizations.
Meyer, Waldkirch, Duscher and Just (2018) explained technological innovation in accounting field along with their function in the development of accounting that makes it simpler for the work of the accountants to operate in an effective manner. These researchers have also developed an important relationship among the existing technology within software along with the accountants. The literature has greatly focused on indicating the relevance of innovation within the accounting process along with evaluating their impact on the company’s business as an aspect of pace, accuracy and speed. It has also been explained by Rasyid, Sugiarto and Kosasih (2017) that there exist several variables in the accounting innovation within which the researchers have considered importance of innovation in the form of development in accounting technology. These researchers have also revealed the factors of innovation within accounting along with their advantages on the accounting companies in consideration to the emerging economy of a particular nation.
Literature Review
It is also made apparent by Zhang and Wang (2015) in their research that he factors those have been signified are vital because of which it is important for the organizations to increase their focus on the accounting systems with use of current technology. This can be done for the reason that the organization can make effective decisions in attaining the organizational objectives in a better manner. In consideration to all the explained theories, it is also clarified that the major attention of all the researchers is on development of the accounting organization though having increased focus on innovation. Zhang and Wang (2015) also highlighted the relevance of innovation in the accounting system in order to increase the business productivity in a better manner based on which it has been clarified by these researchers that innovation plays a considerable function in accounting.
Managerial Implication of Accounting Innovation within Organizations
Hueske and Guenther (2015) revealed that there are numerous managerial implications of employing recent innovation within the accounting processes in companies. These researchers also proposed that new and innovative accounting processes for evaluating innovation so that the development in the organization that might be made. It was also demonstrated by the reasechers that the concepts of innovation within accounting has certain pros and cons in a situation that the organization’s management can make effective decision regarding business accounting. Jamil (2018) elaborated that another managerial impaction that indicates the business success which can turn out to be useful for the companies in attaining high revenues through obtaining knowledge regarding distinct accounting innovation strategies. Kogan, Papanikolaou, Seru and Stoffman (2017) signified in their research that the management accounting innovating system is indicated as major growth factor in which the decisions made by the organization is focused greatly on loss or gain. It has also been revealed by the researcher that innovations within the managerial accounting along with the system of control signify an ample number of concerns focused on the implementation, initiation along with internalization of the contemporary management accounting along with control systems like JIT (Just in Time) and TQM (Total Quality Management).
Laux and Stocken (2018) conducted a research in which investigations were carried out regarding certain effective management innovations within the researches on specific management accounting practices. These reasechers also revealed that there is an increased role of innovation within the feature of the intangible assets within the organization which can facilitate in enhancing the business vale over long term. In addition, the reasechers has also explained that it is not likely to develop an efficient strategy for decreasing the values associated with the company. In contrast, Leuz (2018) indicated that within the accounting work, IT can have an effective function in the management proves of the companies along with its accounting conducts. It is also signified that IT supports the process of knowledge management among the company’s stakeholders which facilitates the external and internal communication. This also offers support to enhancing knowledge either by means of following best work practices or through disseminating the knowledge.
According to views presented by Luo, Meng and Cai (2018) it has been elaborated that thee increasing competitive environment has necessitated accounting companies to be able generate value for the consumers and for distinguishing themselves from the company’s that customers through development of well-defined business strategy. This strategy must be supported consistently by company-based factors like effective technologies, accounting systems, organizational designs and certain other factors which offer helpful as well as reliable information. Marota, Ritchi, Khasanah and Abadi (2017) added that in accordance with a well-developed strategy relied on investments within IT long with employee qualification is intended to provide the accounting companies with predictive benefits along with suitable changes in comparison to consumers as well as related competitors.
The literature review offered an effective managerial implication in explaining the role of innovation in the process of accounting. However, certain gap in the previous research has also been identified that will be addressed in the current study. It was gathered that the previous research failed to explain the role of artificial intelligence in the accounting innovation that failed in explaining that technological innovation is implemented with increased velocity that can turn out to be helpful in increased employee turnover rate (Gomez-Conde and Lopez-Valeiras 2018). From analysis of the past researches it has been gathered that there exists a gap in using suitable research methodology in which only primary tools have been usd in the study because of which the real-life settings that was conducted was very limited (Hueske, Endrikat and Guenther 2015). Focussed on such research gap, the current research will focus in examining the accounting innovation process effectiveness in increased organization sales as several instances have been offered by researchers in explaining the innovation innovation for business success.
Literature review carried out for this research offers a holistic explanation which facilitates in implementing a pedagogy which can be implemented within the study. It was gathered from the literature review section that in order to make an efficient presence within the industry use of innovative applications within the accounting process of organizations is important. This is deemed to gradually increase organizational performance in consideration to managing its ability within company’s profitability and business operation. Moreover, it was also summarised from this section that accounting invention is facilitating the companies in enhancing efficiency along with increasing the budget.
The major aim of the current research is to evaluate the “Observation on Innovation In Technology and its impact on Accounting” that can facilitate in anaysing the diagnosis of innovation aong with its effect on business along with throtghly dealing with its drawbacks to attain the best from from such analysis. Considering the aim of this reaserch, the objectives those are to be adressed are explained under:
- To analyse the risk related with implementing innovation within the business practice
- To evaluate the uncertainty related with implementing innovation within the business practice
- To deal with the limitations revealed the research to attain best findings from the study
In the research methodology section, the researcher has centred in evaluating the manner in which research methods can be employed in gathering suitable research results. The intention of this section is to elaborate most suitable research methodology that can be employed in evaluating the role of innovation in improving accounting process in companies (Benny 2015). In account for the same, the section of research methodology will explain suitable study approach, philosophy, process of data collection, study design, plan of data analysis along with reliability and validity of collected data. Employing suitable research techniques in the research can facilitate in attaining suitable study findings on effective use of accounting technology for enhancing business operations.
Choosing most appropriate research philosophy is important for the researcher in analysing the importance of the current study through using suitable research paradigm. Interpretivism, realism and positivism are three major types of research philosophies employed within the study. The current research focuses on analysing the role of accounting innovation in enhancing business operations all over Australia (Becker, Wald, Gessner and Gleich 2015). For such causes, the recent study has considered making an enhanced attempt in analysing the challenges faced by Australian organizations in implementing recent technology within its accounting operations. Considering the subject of the research, the current study will consider implementing the philosophy of positivism by linking the theories and models explained in the literature review section along with the research background section (Bedford 2015). Use of the selected research philosophy is considered suitable in this study as it can facilitate in attaining reliable respondents from the survey responses. Moreover, use of the interpretivism and realism philosophy was not considered for this study as they are not linked with scientifically proven models and theories.
Research approach is deemed being a vital technique in conducting research for obtaining preferable and reliable research findings. In account for the same, selecting suitable research approach supports the researcher in analysing all the steps for conducting desisted activities (Bloom, Draca and Van Reenen 2016). Research approaches can be of two types such an inductive and deductive which facilitates in obtaining reliable research outcomes. The current research approach centres on analysing the impact of innovation in accounting and its implications on accounting functions of Australian busineses. Considering such aim, the researcher will implement deductive research approach because it aligns with positivism research philosophy in attaining constructive research results. Quantitative research analysis is carried out for the study by evaluating the responses gathered from the target survey respondents. In addition, research philosophy of positivism is directly linked with quantitative data evaluation for which important data was gathered and evaluated through use of existing trends and models along with proven facts (Busco and Quattrone 2018). This is the cause for which deductive research approach can serve to be highly important in obtaining important implications for this exploration.
The research design implemented in the study can facilitate in evaluating the role of accounting technology in improving the accounting process operations in a business. The recent study will be centred in evaluating the research design which attains an explained description on factors affecting the study outcomes (Carnegie and Napier 2017). In account for the same, the current study will employ exploratory research design in the recent exploration for the reason that it leads to better explanation regarding the importance of accounting technology use in business operations for attaining better accounting function performance. Choosing suitable research design supports the researcher in obtaining a chance of conducting the research in the direction of obtaining a predefined research objective. In consideration to such objective, exploratory research design will be selected in evaluating the issues associated with the recent research and the ways in which those are addressed (Chahed 2014). Such research design is chosen because it provides the researcher with increased opportunity to attain better understanding and knowledge on accounting technology emerging within the accounting field.
Primary along with secondary data will be gathered for the current research in analysing the importance of using innovative accounting tools in business operations. Secondary data will be employed from peer reviewed journals, company websites, government publications along with business magazines on the accounting innovations (Bloom, Draca and Van Reenen 2016). Primary data will be collected by means of questionnaire analysis through which innovative accounting techniques-based questions can be asked from the managers of selected ASX listed companies in Australia. Quantitative data will be collected for the reason that it can offer suitable information on human inclination or perception related with suitable research information.
The gathered will be analysed with the help of several analytical as well as statistical techniques. In consideration to that an efficient selection of statistical technique is important in attaining suitable and reliable research outcomes. Moreover, it also facilitates in sustaining transparency along with composed data interpretation (Bloom, Draca and Van Reenen 2016). The quantitative data will be indicated through representing it in the form of tables and graphs. In addition, the MS excel statistical application will also be employed in transforming its respondent’s opinion into suitable response percentage to analyse the respondent’s viewpoint on implementation of innovative accounting processes in enhancing business operations.
Sampling can serve as a process through which the target survey respondents are chosen from a huge population. Suitable technique used in the research sampling process can facilitate the researcher in selected an important primary data source for blending some vital data that is linked with study aims and objectives. Considering such scenario, simple random sampling process will be employed in the current research through carrying out survey with the managers of selected companies of Australia (Chang, Fu, Low and Zhang 2015). This sampling technique will be used in this exploration as it can provide with equal chances to every survey respondent to get chosen for the current research. For this reason, from a large sample quantitative data will be gathered by means of employing simple random sample (Chenhall and Moers 2015). The sample size that will be selected for analysing the role of innovation in accounting in improving the business operations of Australian companies, 50 managers of selected ASX listed companies in Australia will be chosen.
Certain effective attempts can be made by the researcher in gathering reliable data from the selected human responses. The researcher will also consider making increased attempts in maintaining data reliability through employing suitable excel applications for evaluating the collected data (Chenhall and Luker 2015). In addition, the researcher will also consider implementation of increasingly valid and reliable sources for gathering necessary data through employing excel applications in suitable interpretation of data. Reliability and validity of collected data will also be entertained by the researcher by making use of increasing authentic and valid websites (Costantini, Crespi and Palma 2017). This can also facilitate in gathering suitable data along with choosing the managers from selected ASX listed companies in Australia in addressing the research problem.
Necessary primary data is deemed to be collected from the managers of chosen ASX listed company in Australia. In consideration to that reliability of the collected information can act as the vital barrier that can lead to create a hurdle between the research findings attainment along with successful attainment of the research objectives (da Silva Vicente, Machado and da Silva Laureano 2016). Another limitation is that the research respondents might have the tendency to offer positive image of the selected organizations because of which they might be hesitant in revealing the real issues related with implementing innovative technology in accounting processes. In such situation, the research can deal with the limitation of not being able to offer most effective recommendations on accounting technology use in organizations for enhancing their business conducts (Evans and Paisey 2015).
The section of research methodology explained suitable study approach, philosophy, process of data collection, study design, plan of data analysis along with reliability and validity of collected data. It was gathered from analysing suitable research methods that the current study will consider implementing the philosophy of positivism by linking the theories and models explained in the literature review section along with the research background section. Moreover, from a large sample quantitative data will be gathered by means of employing simple random sample. The sample size that will be selected for analysing the role of innovation in accounting in improving the business operations of Australian companies, managers of selected ASX listed companies in Australia will be chosen.
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