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BUS70 Risk in Design and Analysis of Accounting Systems Assessment 2 Answer

    BUS707 - Applied Business Research

    ASSESSMENT 2: Research Plan, short response — 15%

    Topic: Risk in the design and analysis of accounting systems

    The word count is total of 1000 excluding the refrences so on Research Background you need to justify your topic why u want to do what is the reason impacts past research and intexs and on Research questions you need to set at least 3,4 questions which carrys 30% marks so please choose good questions and on literature review u need to write 3 articles and that articles are really important because later on we will be doing the assessment again based on those 3 articles And on ethical consideration I have attached one picture where there is a case with those 5 title and you most be careful because in this area we need 400 words minimum and I have also attached the templates where you need to write these answers on each box and please add refrences at last and refrences should be above 2010 .

    The purpose of this assessment is designed to allow students to develop the expertise necessary to formulate practical and usable research questions to resolve business problems and add to business knowledge. This assessment relates to Learning Outcome a, c and d

    This research plan will set a basis for Research Proposal in Assessment 4. Following consultation with the lecturer or tutor, you should identify problem which may answered by research.

    Given the importance of relevance to Accounting in BUS707, please note that the research topics must be accounting-based topics. Some of the initial suggestions for the topics are:

    • Analysis of significant project in the students' work experiences, such as: Accounting standards
    • Topics may also be identified from the suggestion for further research from articles published in relevant journal articles o The list of topics above are only initial suggestions and will be refined and expanded in discussion with tutors/research supervisors.

    The research plan should be presented in the following structure (template is provided);

    - Research Topic and Title - Background of the research - Research Questions and Research Objectives - Keywords used in literature review - Publication details of four main articles (Peer-reviewed journal articles from 2010 onward) - Ethical Consideration

    Answer

    Research Background 
    Accounting is a professional procedure of recording financial transactions incurred in business for managing the funds of an organization in the right way. The main objective of the accounting department in a business is to handle business capital appropriately because money is somehow known as the core element of an entity. Thus, a team of accounting always wants to improve its monetary management by using various tactics, strategies, and various tools. After the arrival of modern technology, the accounting process gets more enhanced as several advanced tools are present in the marketplace which directly promotes outstanding funds management. However, capital management is a very common activity that is handled by every small, medium, and large organization for running their business entity further because funds are somehow known as the lifeblood for businesses (Lim, 2013). Therefore, companies or readers need to know about modern technology for brilliantly managing business funds. In fact, proper management of funds aids in reducing the possibilities of future loss by maintaining proper cash inflow and outflow. It means that understanding modern technology in accounting is significant for business success because it supports an enterprise while making a budget which is a necessary aspect of an organization.
    Research Questions and Research Objectives
    This proposal of research will show modern technology in accounting with the help of several examples. Thus the main aim of this project is “To identify the influence of modern technology on the accounting department: A case study on HSBC bank”. Additionally, objectives of this research are also designed by considering the aim of the project such as;
    • To analyze the term “accounting”. 
    • To identify the role of modern technology in the accounting department.
    • To determine the impact of modern technology on accounting functions.
    • To ascertain the relationship between modern tools with the accounting section of the business. 
    Research questions-
    • Explain the term “accounting”?
    • What is the role of modern technology in the accounting department?
    • Elucidate the impact of advanced technology on accounting functions?
    • What is the relationship between modern tools with the accounting department of business?
    List of keywords used for Literature Review
    This project is linked with technology and its role in accounting due to which all the keywords in the literature review are going to relate to these elements. Some of the essential keywords of the literature review are; accounting, advanced technology, budgeting, cash inflow or outflow, capital management, and financial transactions. These factors will help in understanding the set aims and objectives by showing relevant information about the selected topic. 
    Publication details of relevant articles for literature review 
    According to the article of Agnes Ann Pepe, (2011), every accountant is aware of the accounting language of an organization, and that particular language is always gone through distinct reformation across the era. But still, accounting technology always plays a significant role in improving the accountant’s job by making it more simple. As per the development of technology, the accountant gets succeeded in assessing the statistical values and the head of accounting has easily interpreted the data effectively. Some of the major examples of accounting technology are; e-business, intranet, and extranet through which the accounting department can easily complete the financial transaction immediately across a long distance. In fact, various significant processes of a business are accomplished with the help of the internet whereas electronic business is permitting accounting enterprises to maintain coordination amongst distinct activities for intrinsic management and easily combines the relationship with clients by using digital networks (Kwilinski, 2019). 
    On the other hand, Aman Mann, (2019) has stated his viewpoint in the article name “Voices Inside the CFO mind: The most important tech solutions” that CFO is always seen as front lines of optimizing organizational procedures and it also includes the selection of splendid technology for attaining job objectives. Paul Riegel who is a regional director of CFO Centre estimates that companies always have a base accounting system but still select to move with the distinct brand for other associated software solutions like; buying or span management. Thus, Paul believes that every entity needs a base system that incorporates; general ledger system, accounts receivable functionality, bank reconciliation, budgeting module, and many more.
    On contrary to this, Jen Ledger, (2020) believes that from the last few eras, technology is developing quickly and influencing the living style of individuals as well as business functioning. It means that technology has fully changed the process of accomplishing business operational activities. For example; using of faster software support organization in completing the complex functions in a very easy way whereas the interconnection of technology is supporting accounting efficiently. Various techniques are used by the accounting industry for managing funds in a modern way such as; Cloud-based systems, providing the diverse roles to an accountant, mobile accounting, specialized accounting software, and many more (Zhou, 2010). 
    Ethical Consideration
    Ethics in business is damn. important because it assists the researcher in the right direction and reduces the possibilities of mistakes while completing the research. For example; in a given case, the researcher wants to explore that learning from table requisite different skills as compared to traditional print books because an individual can gain learning in various ways. But the only difference is that both the methods are having distinct ethical considerations and a person needs to understand it such as; reading from a tablet is accomplished via the internet due to which people must having net surfing skills for gaining something authentic. On the other hand, traditional books are a simple way which is used by children of small age to learn more or more but they don’t need to face much problem because ethical consideration is minimum in using traditional books. Whereas, tablet reading requisite suitable licensing and having an official account to learn things without breaking the laws or norms. This shows that researchers have to ensure that every data related to modern technology for accounts must be accumulated ethically without harming the dignity of others by respecting the population. 


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