The Impact of Technology on Accounting
The main aim of this assignment is to emphasize the four articles on the Innovation in accounting and its impact on the business. These four articles will be described under this assignment in which the common findings and the different themes across the four articles will be encompassed. The managerial implication of the four articles will be demonstrated under this assignment. Along with that, the limitation of the research and the inter-relationship between them will be elaborated.
It has been found that the all the uprising surrounding the field of accounting has in related to the technology which has played a significant role in making the work of the accountants for easier. Technology has changed the entire field of accounting and brings a lot of change all over the world. The presence of technology in the work of accounting has created the work of the accountants far which is more reliable and less level to errors. It has been found that in the last two decades the technology has taken place in the accounting firm in which the employees of the company have become more proactive. The accounting firms have commenced delegating the daily task to the employees with taking consideration of the latest technology. It has been analyzed that this kind of trend has continued in accounting too and has reasoned amendments to the internal policies of the company. Technological advancement has become a necessary part of every kind of organizations. It is not possible for the companies to stay in the competitive market in this cut-throat scenario without using the latest technology. The four articles have been selected for the topic of innovation in accounting and its impact to business with different themes and common themes.
According to Medina-Quintero, Mora & Abrego, (2015), innovation in accounting can enhance the productivity of the business as well as an employee in the organization which would be helpful to improve the revenues of the company. The main aim of this article is to decide the impact of SMEs technological alignment, technological infrastructure and information management on the performance of the organization in which the system of accounting information is used. Ionica & Alina, (2017), stated in their article that the management accounting innovation system is considered as the major success where the decisions are based on the social gain and loss. Haiza Muhammad Zawawi & Hoque, (2010), asserted that the management accounting innovation is considered as the adoption of latest forms of management accounting system like activity-based management, target costing, balanced scorecards and activity-based costing. On the other hand Dagiliene & Dagiliene, (2014), elaborated that the innovation has the nature of the intangible assets of the company that is able to develop the value in long-term, but it is not possible to have an effective strategy to recognize those value in a proper manner.
Four Articles on Innovation in Accounting
It has apparent that the common themes of the four articles are same as all are focused towards accounting innovation and its good impact over the business. however, the theme or findings of each article is different as first article suggests that all information made by the manager influence the employees and it is required for the management to make the transparency between management and employee which can be made with the help of the latest innovation in the accounting system (Medina-Quintero, Mora & Abrego, 2015). The second article is different from other articles as it is based on the Management accounting innovations of the millennial business era. The third article is based on the Research in management accounting innovations in which it defines the role of the accounting innovation in the growth of the business. At last, the fourth article is different from all as it elaborated that it is necessary for the business to have more technology about the financial and non-financial information of the company.
It has been found that the managerial implication is required for the business as the way of managerial implication is different in all four articles. In the context of the first article, the questionnaire has been made to get the review of the employees about the subject of the article. With respect to managerial implication, it has been found that the second article is based on the success of the business by taking help of the accounting innovation with a human to human touch of the business (Medina-Quintero, Mora & Abrego, 2015). It can be implied within the business as it helped in earning huge values form relatively smaller employees. The managerial implication of the third article is different from others as it is suggested that the role of the top management is required for the implementation of the accounting system in the organization (Haiza Muhammad Zawawi & Hoque, 2010). On the other hand, the managerial implication in the last article is to innovate the integrated reporting which could be the new process of the accounting to assess innovation from the point of view of the development of the value of the company. This article is included the valuation of the innovation which should be embedded in the value-added an indicator of the company not only in the short as well as the long-term period.
It has been found that the limitation of the article is different from each other. The first article shows the limitations as one snapshot represents in time. It has been found that the validity of the model cannot be made according to the single study. Moreover, it is required for the researcher to be cautious at the time of constructing the model. For this purpose, it is required for the other researcher to add other IT success factors that can help in the improvement of special theories (Medina-Quintero, Mora & Abrego, 2015). The second article focuses on other factors which can impact the business due to innovation in the accounting. However, this article is based on the development of the accounting business due to bring innovation where the connection between the management strategies, vision, and management accounting innovation is strong (Ionica & Alina, 2017). It has been found in the third article that this article is limited up to six articles and the sample of the article is also limited. The study about TQM is very limited in this article which can be increased at a good level for the purpose of defining the importance of innovation in the accounting within the business. It has been analyzed that the fourth article has elaborated the traditional accounting and it has been discussed regarding innovation that it is recognized as expenses and are not considered as the assets of the company. This statement can be elaborated in more detail by taking reference from other researchers. The discussion can be made on the financial and management accounting by taking reference of innovations as it would be easier for the company to give some inclusive information for stakeholders as well as investors.
The key issue related to the identification of intangible assets is that it is the application of the control criteria. For instance, it is required for the company to control the human resource instead of investing so much. It has been analyzed that the role of the intangible assets in the growth of the business is huge as it helps in developing the economies.
It has been analyzed by reviewing each article that the theme of all articles is the same as all are focused towards the innovation in accounting. All articles are indicated the importance of the innovation in the accounting and its impacts on the business. Productivity is the major aspect which has been identified in all articles that is the major cause of inter-relationship between them. It has been focused on all articles that the innovation in the accounting system can bring huge changes in the company that can increase the productivity of the business (Ionica & Alina, 2017). It has been emphasized in the articles that the employee of the company should focus on the high career expectations. With respect to the management accounting change, an alternative approach highlights the research on various contexts and identifies the impact of the individual. Management accounting is able to calculate the costs of services, products and other objects such as innovation activities. It is required for the companies to focus on the labor and other costs of manufacturing that are going into generating the process. It has been found by analyzing all articles that the non-manufacturing costs are not concerned about the production of the good. These have focused on two components such as selling and administrative costs. Innovation in accounting is a major concept that inter-mingles all articles.
References
Dainien?, R. and Dagilien?, L., 2014. Accounting-based Valuation of Innovation: Challenges and Perspectives. Procedia – Social and Behavioral Sciences, 156, pp.589-593.
Haiza Muhammad Zawawi, N. and Hoque, Z., 2010. Research in management accounting innovations. Qualitative Research in Accounting & Management, 7(4), pp.505-568.
Ionica, O. and Alina, S., 2017. The Impact of Management Accounting Innovations on Millennials Business. Ovidius University Annals, Economic Sciences Series, 17(1), pp.568-572.
Medina-Quintero, J. M., Mora, A., and Abrego, D. 2015. Enterprise technology in support for accounting information systems. An innovation and productivity approach. JISTEM-Journal of Information Systems and Technology Management, 12(1), pp.26-44.
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