Research problem and design
The research problem is to find out the impact of the usage of accounting software on the accounting practices of the firms, its impact of the financial transparency of the firms along with advantages fair accounting practices on the firm.
The research design for this study would be correlational and descriptive in nature (Stockemer, Stockemer and Glaeser, 2019). The research problem dealing with the impact and relationship between usage of accounting software on the general accounting processes of the XYZ firm would be correlational in nature while the manner in which of the accounting information software is generally applied on the firm’s accounting requirements would be descriptive in nature (Fagbemi and Olaoye 2016). The research questions are as follows:
- What is the impact of the accounting information software on the accounting practices within the XYZ enterprise? (Teru, Idoko and Bello 2019)
- What is the manner in which the accounting information software is generally applied with respect to the accounting needs?
The sample of the study would be the employees of the XYZ firm. Since this study is correlational in nature there needs to be data collection from the sample. The population of the firms using accounting software is very large and such huge data is complex to handle. So a sample would be drawn from almost all departments of the XYZ firm to gather information into how the accounting information software have impacted the practices of the firm. This sample is purposively selected and not randomly because it entails into specific information requirement of the researcher which are specific to accounting of financial records (Ames, Glenton and Lewin 2019).
The methodology of the study would include gathering information about the accounting needs of the firm from the sample chosen and finding out the relationship between how using that accounting information software the firm have modified their practices (Thottoli 2020) Questionnaire would be formed based on these requirements, data would be collected by questionnaire. With the gathered data, a correlation analysis would be conducted using the software SPSS which efficiently handles survey data. This would answer the first research question. For the second research question a secondary analysis would be conducted to find out how the software meets the accounting needs of the firm.
Data Collection
Questionnaires are considered as the most efficient way of gathering data. Questionnaire containing questions related to how the accounting software have impacted the general accounting practices within the XYZ firm would be formed. Questionnaires generally contain open end questions which the respondents find easy to answer and understand. The questions would be answered in Likert Scales or 10 point scores as how efficient the software is in managing the accounting of the firms (Brace 2018). The questionnaires would be shared among the respondents through online modes as it is highly convenient. For the descriptive analysis secondary qualitative data would be used such as annual reports and financial statements requirements of the firm to understand how the accounting information software fits into the needs of the firm related to general accounting practices of the XYZ firm (Hutahayan 2020). For the descriptive analysis a critical approach would be taken up to judge how far the accounting information software is able to secure the financial records and fair financial accounting within the firm XYZ (Al-Okaily et al. 2020).
Sample and data collection
Data Analysis
The data collected from the questionnaires would be then transformed into a format which is compatible to be used in SPSS. The SPSS software is eligible to handle cross – section data although the responses would be in scale format or in Likert scales which are transformed into numerical using MS-Excel. The reliability analysis of Cronbach Alpha would be carried out to find the degree of reliability and validity of the data collected. Then the descriptive statistics would be tested to visualize the data. The Pearson’s Correlation test would be conducted to find out the relationship between the usage of the accounting software and accounting practices of the firm (Kafle 2019). A regression analysis would be conducted to review this relationship and also to find the degree of association between the variables. Through ANOVA and T-tests the analysis would suggest if the there is any differences between the usage and non-usage of the accounting software within the departments of the XYZ firm. For the secondary analysis critical analysis of the financial reports and annual reports of the XYZ firm would be conducted to find out how the firm’s accounting needs are met by the accounting information software and what might be the extra needed if they don’t fit (Sherif 2018).
Data Visualization
The data collected would be also visualized in form of table and charts. Histogram and bar plot can be made to visualize the sample data collected to understand better about the distribution of the data. Pie graphs can be used to show which department has felt the most benefit by using the accounting information software. The data collected can be transformed into frequency tables which can be then presented in form of bar charts. Otherwise the secondary data collected would be not visualized in any form, although remarks from investors and financial partners of XYZ can be presented in frequency format to understand how the firm in really benefitted from the usage of the accounting information software.
Conclusion
The study would hence use a research design of correlational and descriptive analysis to answer the main research problem of finding out the impact the usage of accounting information and the accounting practise of the XYZ firm. Since this study consists of both a correlational design primary quantitative data would be collected and analysed in the software SPSS. While for the descriptive analysis of the meeting the accounting needs of the firms would require secondary qualitative analysis which would be critical in nature. The study would also employ descriptive statistics visualization and frequency distribution visualization through charts and graphs.
References
Al-Okaily, A., Al-Okaily, M., Shiyyab, F. and Masadah, W., 2020. Accounting information system effectiveness from an organizational perspective. Management Science Letters, 10(16), pp.3991-4000.
Ames, H., Glenton, C. and Lewin, S., 2019. Purposive sampling in a qualitative evidence synthesis: A worked example from a synthesis on parental perceptions of vaccination communication. BMC medical research methodology, 19(1), pp.1-9.
Brace, I., 2018. Questionnaire design: How to plan, structure and write survey material for effective market research. Kogan Page Publishers
Fagbemi, T.O. and Olaoye, J.A., 2016. An evaluation of accounting information system and performance of small scale enterprises in Kwara State, Nigeria. DBA Africa Management Review, 6(1).
Hutahayan, B., 2020. The mediating role of human capital and management accounting information system in the relationship between innovation strategy and internal process performance and the impact on corporate financial performance. Benchmarking: An International Journal.
Iskandar, D., 2015. Analysis of factors affecting the success of the application of accounting information system. International Journal of scientific & Technology research, 4(2), pp.155-162.
Kafle, S.C., 2019. Correlation and Regression Analysis Using SPSS. Management, Technology & Social Sciences, p.126.
Sherif, V., 2018, May. Evaluating preexisting qualitative research data for secondary analysis. In Forum: qualitative social research (Vol. 19, No. 2, pp. 26-42). Freie Universität Berlin.
Stockemer, D., Stockemer and Glaeser, 2019. Quantitative methods for the social sciences (Vol. 50, p. 185). Springer International Publishing.
Teru, S.P., Idoko, I.F. and Bello, L., 2019. The Impact of E-Accounting in Modern Businesses. International Journal of Accounting & Finance Review, 4(2), pp.1-4.
Thottoli, M.M., 2020. Knowledge and use of accounting software: evidence from Oman. Journal of Industry-University Collaboration.
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