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BUS707
AU
Kings Own Institute
The project topic which has been chosen for the purpose of the study can be identified to be ‘’Assessing the role of accounting information system on accounting efficiency and transparency in small and medium firms in Australia’’. The focus of this research topic is to understand how technology and information communication technology has influenced the critical field of accounting and brought about efficiency and transparency in the system. The focus would remain on the small and medium sized firms in Australia.
The accounting information system can be rightly identified as an information system which is a system of collecting, storing and processing the financial data and accounting information to modify it in a manner such that the decision may be taken in a systematic manner. The accounting information system can be identified as a computer-based system which tracks accounting activities with the assistance of the information technology resources. Here, it is critical to identify that the use of the accounting information systems was made use of by large sized enterprises only in order to systematize and track all the related transactions in a systematic manner. However, the use of the information technology has extended consistently in the small and medium sized firms as well. Here, it is essential to underline the fact that, by using these systems, the different enterprises whether small or medium in size, are successfully able to track their performance and ensure efficiency. Budiarto et al. (2019) stated that it can be rightly underlined that the computerized accounting information systems generally tend to bring about several benefits such as reducing the time spent on the different manual processes, increasing the accuracy of the calculations as undertaken, improving real time financial information and the key power of decision making, engaging in automated invoices, credit notes, receipts, saving money on the resources and faster record keeping along with better business management (Endraria , 2019). Hence, by undertaking this research the manner in which the accounting information system has been embraced by the small and medium sized enterprises in Australia.
The primary aim of the research is to investigate into the role of accounting information system on accounting efficiency and transparency in small and medium firms in Australia. The objectives which have been set out for the research can be identified to be as follows:
The research questions which have been set for the study can be identified to be as follows:
According to Andarwati, Nirwanto and Darsono (2018), in the paper named Analysis of Factors Affecting the Success of Accounting Information Systems Based on Information Technology on SME Managements as Accounting Information End User, it can be rightly identified that the small and medium enterprises have been able to greatly benefit from the use of the accounting software’s and information systems. The study undertook a sample of 118 management enterprises and was successfully able to assess the overall manner in which to implement accounting information systems can be well defined in the small and medium enterprises. Here, it is essential to underline that system quality and top management support was found to have support on accounting user information and satisfaction. Azmi and Sri (2020) through his paper named ‘Factors that affect accounting information system success and its implication on accounting information quality’ identified the different factors which critically influence how the accounting information systems can be implemented at the workplace. It was identified that organizational commitment and culture have a strong influence on the success of the implementation of the accounting information systems. Hence, management support is integral. Lastly, in the paper ‘A Review on Determinants of Accounting Information System Adoption’ by Tilahun (2019) it was identified that for a business to be successful all determinants to adopt the system must be critically identified and well suited to the purpose of the firm to bring about better considerations and outcomes. Therefore, the findings of the literature align well with the research purpose and stress that the accounting information systems do bring about better welfare for the enterprises in the long run.
The field of accounting has gained considerate importance and with due respect to this, there has been an increased level of security and scrutiny of the accounting information in the recent years to prevent any frauds. Moreover, the nature of the businesses have been changing in a considerate manner which has thereby led to the mitigation in the domain of manual accounting systems and bookkeeping (Al-Attar, 2021). Hence, the introduction of the accounting information system, is expected to bring about better engagements and accounting systems in organizations. As identified earlier, the accounting information software brings about transparency in the accounting system and alongside also ensures that the firms would be able to audit their books and accounts in a consistence manner. In this context, it is critical to underline the fact that alongside the large enterprises, there are several small and mid-sized enterprises in Australia who have been making use of the system in order to track their accounting transactions and alongside identify in case any gaps, frauds or other errors take place (Tingey-Holyoak et al. ,2021). Hence, through this study, the researcher would be able to identify the overall manner in which the use of accounting information system has brought about greater efficiencies in small and medium enterprises. It would also be a guide to the managers whose firms have not yet adopted the system to gain an idea of how the system can be implemented and used to their benefit
Al-Attar, K., 2021. The effect of accounting information system on corporate governance. Accounting, 7(1), pp.99-110.
Al-Wattar, Y.M.A., Almagtome, A.H. and AL-Shafeay, K.M., 2019. The role of integrating hotel sustainability reporting practices into an Accounting Information System to enhance Hotel Financial Performance: Evidence from Iraq. African Journal of Hospitality, Tourism and Leisure, 8(5), pp.1-16.
Andarwati, M., Nirwanto, N., and Darsono, J. T. 2018. Analysis of factors affecting the successof accounting information systems based on information technology on SME managementsas accounting informationend user. EJEFAS Journal, (98), 97-102.
Azmi, F. and Sri, M., 2020. Factors that affect accounting information system success and its implication on accounting information quality. SIMILIARITY.
Budiarto, D.S., SE, M., Ak, C.A. and Fakultas Ekonomi, U.P.Y., 2019. Accounting information system and non-financial performance in small firm: Empirical research based on ethnicity. Journal of International Studies, 12 (1), 338-351. doi: 10.14254/2071-8330.2019/12-1/23.
Endraria, E., 2019. Effect of Leadership and Discipline on Implementation Accounting Information System. Canadian Social Science, 15(4), pp.38-47.
Tilahun, M. 2019. A Review on Determinants of Accounting Information System Adoption. Science Journal of Business and Management, 7(1), 17.
Tingey-Holyoak, J., Pisaniello, J., Buss, P. and Mayer, W., 2021. The importance of accounting-integrated information systems for realising productivity and sustainability in the agricultural sector. International Journal of Accounting Information Systems, p.100512.
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