Please Explaining the Concept of Modern Technology ?
This study deals with explaining the concept of Modern technology such as accounting software used in accounting process. In this particular assignment, emphasis has been given on understanding modern advances in accounting technology as well as service based accounting and modern accounting technology (Wilkin and Chenhall 2012). Accounting Information System consists of attributes such as People, data, procedures as well as software information technology. In the first part, project context is explained by analysing the career option opted by Accounting students studying in University. As the student is studying in Professional accounting, it is important for the student to understand the future career progression in accounting profession (Smith and Smith 2013). This part explains the future career option for accounting students and prospects. It has been explained that Accounting Profession has huge opportunities for the accountants who has enough knowledge regarding accounting aspects, issues in contemporary organization. In the second part, Research Proposal discusses on the issues governing in Accounting Information Systems and role-played in accounting profession. Therefore, it explains the aims, objectives and research questions for understanding the attributes of current Accounting Information System (Van der Veeken et al. 2012).
This particular part explains the project context as the topic is based on Modern Technology and the Student studies Professional Accounting in their course in the University (Romney et al. 2015). In that case, it is important to understand the fact behind selecting Accounting as future career profession. It becomes difficult in selecting future career option while studying in a particular University and students mostly gets confused and need Expert opinion or family opinion.
This study will focus majorly on selecting accounting profession as future career option because accounting is the best direction leading towards flourishing business career. This is since accounting is one of the languages used as basic tool of business (Romney et al. 2013). There has been dramatic change in accounting field that has been noticed in such explosive trends like computer revolution, globalization of business, restructuring of corporations, increase government regulations as well as on-going downsizing and frequent tax law changes (Van der Veeken et al. 2012).
In this recent complex as well as competitive business environment, it has been found accounting skill are much in command and accounting treated as active career profession for future (Nicolaou 2013). There has been increased demand for accountants with growing and outstripping supply. In recent business environment, Job opportunities are far promising for the accountants. On the contrary, opportunities are even good for women population. On analysis, it has been found that women have done well in accounting profession. Statistics reveals that numeral of women entering into accounting occupation has almost doubled in the last decade (Van der Veeken et al. 2012).
After it is decided to select accounting as career option, it is now important to choose which career path to pursue (Moscove et al. 2014). There are varied job opportunities that remain open for accountants and categorized under three broad categories namely, Public Accounting as well as administration and not for profit secretarial.
Public Accounting- It is significant to consider the information that Public Accounting firms aims at providing auditing, accounting as well as tax and consulting services to business and individuals (Hall 2012). These are the firm depending upon size starting from single practictisioner to large International firms in and around the world. Accountants working in the accounting firm’s gains lot of experience and exposure in the field of accounting concepts
Government and Not for Profit Accounting- The main aim of the secretarial department in a given characteristic government agency is functioning within budgetary constraint as mandated by the government (Grabski et al. 2013). This means Government accountants are responsible for monitoring the fraud of funds as well as donation of contract to confidential agencies after following government regulations in the most appropriate way.
Governmental as well as not for profit Organizations aims at specializing in accounting as well as reporting practices and this mainly offers differing from profit-oriented enterprises (Gordon and Narayanan 2015). In other words, Accountants working in an organization requires to remain recognizable with the peculiarities of not for profit accounting. As far as Independent Auditors are concerned, they should be well-informed in given specific auditing standards as applied in not for profit organization (Van der Veeken et al. 2012).
At the end of the part, it is understood that Accounting Profession has wide opportunities for accountants who has keen interest and knowledge in accounting field. In other words, the above analysis explains the field of accounting that help accountants in continuing with the accounting profession in the near future (Gordon and Miller 2014). Therefore, Professional Accountants has the opportunities in taking financial decisions for any business organization.
Problems and Internal Control Issues in Accounting Information Systems from view point of Australian Certified Public Accountants
The concept of Accounting Information Systems is well established as well as indulges in numerous commercial package and tailor made systems (Gelinas et al. 2015). Nevertheless, the recent business world is beset by accounting system that varies at high level of efficiency as well as requires excessive cost for gaining accounting information. Most of the problem that arises from Accounting Information Systems is lack of comprehensive planning (Van der Veeken et al. 2012).
In the recent world, there occurs fusion between accounting as well as Information Technology fields in providing essential resources for business in accounting field. In other words, it considers integration between accounting fields (Driver and Mock 2013). This research proposal will look into the problems as well as issues of Accounting Information Systems pointed out by Australian Accountants. Accounting Information is majorly concerned with having essential resources of all organization like essence of competitive business. Concept of Accounting Information Systems changes frequently with changed levels concerning with efficiency as well as high costs affecting business world (Cushing 2015).
Various problems arise from fusion of accounting as well as Information Technology. Mechanized systems are at steady risk because of hackers, viruses as well as loss of information and power failures. Other identified issue is high cost of Accounting Information Expert Systems (Choe 2014). These types of system needs to be updated and in those case staff members needs special preparation courses for effectual use of scheme.
The major aim of the research proposal is proposing a coherent conceptual framework for bringing improvement in overall Accounting Information Systems environment. The main objective requires recommending directions especially for achieving conceptual model (Choe 2015).
As rightly, put forward by Bocholt (2012), most Accounting Information Systems problems results leading to lack of constructive planning on refreshing information systems. It requires vast progress for achieving information technologies field as well as software and sophisticated system. It aligns with design and developmental aspects of employment of quantitative models after identifying informational needs with proper laws and regulations (Bushman et al. 2014). On the other hand, internal control defines the process as management for providing reasonable assurance for achieving effective as well as efficient operations (Smith and Smith 2013). It takes into consideration reliable financial reporting as well as compliance with proper laws as well as regulations.
According to Choe (2015), Data Integrity considers as an important part of internal control structure aligning with respect to monetary statement auditing used for external reporting. One of the main objectives in this business world is developing as well as maintain aggressive benefit and precise monetary reporting (Smith and Smith 2013). Other major concepts take into consideration cost, speed of delivery as well as quality and product leadership.
As opined by Bocholt (2012), Internal control act as a useful tool for achieving as well as extending ways for attaining goals. On the contrary, Operations as well as Upper Management requires evaluating information on sales quantities as well as customers and product type. Some of the information includes production costs by department as well as product and accounts receivables. Therefore, lasting success of a Business Corporation depends majorly on good as well as lively controls for providing information used for interior executive aligning with company objectives (Van der Veeken et al. 2012).
As rightly put forward by Choe (2015), Accounting systems mainly contains confidential information that needs to be kept safe as well as secure. The major consequences of unauthorized access are mostly devastating in nature starting from identification of theft problems to loss of unique data. In case when secretarial data is changed or deleted in a way for creating havoc in accounting department (Wilkin and Chenhall 2012).
Physical Security- It is vital to consider the information that small business owners should find ways in safeguarding its computer systems with losses and theft. It requires keeping systems as well as servers in a safe place that is not uncovered to elements. It is essential keeping accounting equipments inside offices after limiting the unauthorized access (Smith and Smith 2013).
Authentication- It is essential that all systems have login Ids and passwords authenticated by users. Passwords should not be shared with anyone and changed on periodic times (Van der Veeken et al. 2012)
Therefore, authentication process enables in giving rights to users but all users fails in gaining information (Wilkin and Chenhall 2012).
Virus Protection- It is known that computers are subject to virus as well as malware affecting the operational aspects. Some of the viruses allow system intrusion when a hacker get inside the system as well as create problems (Smith and Smith 2013). Some viruses even disrupt a system that can either replaced or wiped out completely. Fixing this issues are expensive and this reason why it is better to take defensive measures for protecting the upfront.
Researchers had gathered information by using secondary sources such as academic journal articles, books and authentic websites for reference purpose (Wilkin and Chenhall 2012). These sources of information have been taken from Australian websites for understanding the viewpoint of Australian Certified Public Accountants. Entire research proposal focus mainly on identifying the key issues pertaining to Accounting Information Systems
Boockholdt, J. L. (2012). Accounting information systems: transaction processing and controls. McGraw-Hill Professional.
Bushman, R., Chen, Q., Engel, E., and Smith, A. (2014). Financial accounting information, organizational complexity and corporate governance systems. Journal of Accounting and Economics, 37(2), pp.167-201.
Choe, J. M. (2014). The effects of user participation on the design of accounting information systems. Information & Management, 34(3), pp.185-198.
Choe, J. M. (2015). The relationships among performance of accounting information systems, influence factors, and evolution level of information systems. Journal of Management Information Systems, 12(4), pp.215-239.
Cushing, B. E. (2015). Accounting information systems and business organizations. Addison-Wesley Longman Publishing Co., Inc..
Driver, M. J., and Mock, T. J. (2013). Human information processing, decision style theory, and accounting information systems. The Accounting Review, 50(3), pp.490-508.
Gelinas, U. J., Dull, R. B., and Wheeler, P. (2015). Accounting information systems. Cengage learning.
Gordon, L. A., and Miller, D. (2014). A contingency framework for the design of accounting information systems. Accounting, Organizations and Society, 1(1), pp.59-69.
Gordon, L. A., and Narayanan, V. K. (2015). Management accounting systems, perceived environmental uncertainty and organization structure: an empirical investigation. Accounting, Organizations and Society, 9(1), pp.33-47.
Grabski, S. V., Leech, S. A., and Schmidt, P. J. (2013). A review of ERP research: A future agenda for accounting information systems. Journal of information systems, 25(1), pp.37-78.
Hall, J. A. (2012). Accounting information systems. Cengage Learning.
Moscove, S. A., Simkin, M. G., and Bagranoff, N. A. (2014). Core concepts of accounting information systems. John Wiley & Sons, Inc..
Nicolaou, A. I. (2013). A contingency model of perceived effectiveness in accounting information systems: Organizational coordination and control effects. International Journal of Accounting Information Systems, 1(2), pp.91-105.
Romney, M. B., Cushing, B. E., and Steinbart, P. J. (2013). Accounting information systems. Addison-Wesley Longman Publishing Co., Inc..
Romney, M. B., Steinbart, P. J., Zhang, R., and Xu, G. (2015). Accounting information systems. Pearson Education.
Smith, L. M., and Smith, K. T. (2013). Accounting information systems. Thomson Learning Custom Publishing.
Van der Veeken, H. J., and Wouters, M. J. (2012). Using accounting information systems by operations managers in a project company. Management Accounting Research, 13(3), pp.345-370.
Wilkin, C. L., and Chenhall, R. H. (2012). A review of IT governance: A taxonomy to inform accounting information systems. Journal of Information Systems, 24(2), pp.107-146.
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