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