"The problems and issues of accounting software in accounting professions"
Research BackgroundThe current research paper aims to provide with the information regarding the issues and challenges involved in accounting and accounting software. It further discusses and focuses on a bunch of solutions and strategies in order to solve and overcome the problems. The use of technology in accounting and bookkeeping is one of the most common and desired thing in the recent era. It has become easier to maintain the finance department in all the industries because of technology and its facilities. Just like the every other sectors, accounting is also going through a transformation while adopting new techniques of technological software (Alcouffe, et al., 2008). In the current time, the traditional techniques of accounting are being out formed and obsolete. The concepts of outdated financials, lack of information system, work based programming and remote-control systems are being excluded and the new innovative techniques of accounting are being incorporated and implemented. On contrary, technology is being an extremely fast tool to manage all the accounting tasks and it is being even more beneficial for the organizations and their future. The implementation of technology has brought a revolution in the business sector. The software like data security, the cloud, OCR tools, blockchain and xero technologies have taken the works of financing to a different level altogether and the organizations are being extremely benefitted with the implementation of such technologies. It is very difficult for the organizations if they fail to adapt the change of the industry. The workers and their practices will be left vulnerable and there are higher chances of the clients getting disappointed by the delayed and outdated work. Also, the market value and the brand values of such organizations will decrease much.
In the recent times, the advanced technologies are developing every day and the organizations are adapting all the innovative techniques. In this time it is very unfortunate for the accountants who are being able to cope with the new techniques (Donaldson, et al., 2015). The competition in the market is increasing rapidly. Many new entrants are rising and being able to fit in the market. This is how, the growth of technology turns out to be a threat to some professionals at times. The innovative techniques of accounting systems are doing all the jobs by itself and not involving any human cooperation. This is being a severe threat to the accountant designation. Those who were holding the post ion the different companies are now losing their jobs and it is a serious threat. The modern business organizations are implementing more advanced and affordable software instead of accounting professionals. This is how the professionals are getting insecure.
The other very important challenge is the cyber security of the business. Accountants faces such challenges with accounting software. Implementing the highest scale of data security and a proper understanding towards information system is much needed nowadays. Because, hacking, stealing information and data are the serious issues of the organizations (Cavelty, 2007). It is observed and noticed that there are many cases of cyber-attacks occurring every year to some companies or the other. In the year 2017 there has been 400 cases of cybercrime in the businesses of Australia which has affected too many machines all over the world.
There should be strategies of handling and managing cyber security in the innovative accounting systems. The issues of innovative accounting software are the financial loss of the business and the loss of work designations of the professionals.
Research questions*How does technology give birth to the issues of the account professionals?
*What are the threats of technology in accounting?
*In which ways do the accountants adopt new technologies?
*Is there anything to fear regarding accounting technology?
*What are the ways of threat management?
*How do the accountants be aware of the threats?
Research aim and objectiveThe following research assignment aims to find out the influence that the accounting technology creates along with the issues and the solutions and strategies to get over the threats. The other motifs could be;
*Finding out the issues of the new accounting software
*Listing out the strategies and tactics to overcome the challenges
*Finding out the reason behind the fear of coping with new technologies of the account professionals
*Finding out the information regarding spreading awareness to the professionals about the threats.
Keyword for literature review
*Accounting technology issues
*Problems of new accounting software
*Confirming the threats of the new technologies
*Raising cyber security in the organizations
*Online accounting
*Threats of accounting software
Publication Details of relevant articles for literature review
Sin, S., Reid, A. & Dahlgren, LO., 2011. The conceptions of work in accounting profession in the twenty-first century from the experiences if practitioners. Studies in Continuing Education, 33(2) , pp. 136-156.
Spalding, A.D. & Oddo, A., 2011. It's time for principles-based accounting ethics. Journal of Business Ethics, 99(1), pp. 49-59.
Oler, D.K., Oler, M.J &Skouren, C.J., 2010. Characterizing accounting research. Accounting Horizons, 24(4), pp. 635-670.
Schroeder, A., Minocha, S. & Schneider, C. 2010. The strengths, weaknesses, opportunities and threats of using social software in higher and further education teaching and learning. Journal of computer assisted learning, 26(3), pp. 159-174.
Data collection planVarious methods of data collections are used in different types of projects. It depends upon the type of assignment or research being done. It involves primary data collection or secondary data collection and in cases both the ways are implemented in the research procedure. In this research paper, the different data from the existing literature have been used as well has firsthand interviews of the business managers and owners (Kruskopf, et al., 2019). Both qualitative and quantitative research have been made in this dissertation. The qualitative research interacted with the documented data to understand every aspect of the threats of new accounting technologies in business.. On contrary, the quantitative research has calculated the statistical figures by investigating individuals in person. The survey included interviews of the business person to get the approximate result of the influence of technology. Precisely, the research is based on both primary and secondary research approach.
Ethical considerationThe ethical consideration of a research paper indicates the consent and credit of the assigned research papers and journals. It is important to use factual and with credit to be ethically right and respect the researcher. The involved research activities are done ethically (Alcouffe, et al., 2008). The current research has checked the originality and the authenticity of all the existing literatures involved with it. The survey involved in the paper ensures that the interviews have been conducted after taking consent of the individuals and all of them were adults (Meredith, 2007). The questionnaire has been published anonymously and there is no involvement of any sensitive issues such as religion, politics or anything of this sort. The entire research process have been kept consensual and private. The collected data have been kept safe and it can only be accessed by the researcher.
BibliographyAlcouffe, S., Berland, N. & Levant, Y., 2008. Actor-networks and the diffusion of management accounting innovations: A comparative study. Management Accounting Research, 19(1), pp. 1-17.
Cavelty, M. D., 2007. Cyber-security and threat politics: US efforts to secure the information age. s.l.:Routledge.
Donaldson, S., Siegel, S., Williams, C. K. & Aslam, A., 2015. Enterprise cybersecurity: how to build a successful cyberdefense program against advanced threats. s.l.:Apress.
Kruskopf, S. et al., 2019. Digital accounting: opportunities, threats and the human factor. ACRN Oxford Journal of Finance and Risk Perspectives, Volume 8, pp. 1-15.
Meredith, L., 2007. Scanning for market threats. Journal of Business & Industrial Marketing.