Management - Research Background In Assessment Answer

Research Background

In the recent era, it is mandatory for the organization to increase their understanding of the technology and comprehend how much it is imperative in accounting and finance. The biggest issue that is faced by the company is the capability of the firm to create and practice the computerized structure for tracking the records of financial transaction (Tan, et al., 2014). It is stated that Information technology networks structure could have shortened the time required by accountants to make and present the financial data to management. It is examined that the technology could also secure all the financial information of the organization as it could increase the possibilities of success of the organization (Tian and Xu, 2015). Finance is an imperative part of the organization. In the lack of finance, an organization could not operate its business effectively. It is also illustrated that there are certain challenges that might be faced by the organization at the time of implementing it is the working place named as lack of knowledge of the professionals about the implementation of technology and cost of technology.

For this, the organization could improve the skills of an employee by considering the training and development method and enhance the probabilities of getting higher competitive advantages. It is illustrated that the organization could need to examine the atmosphere of a working place for improving the performance of the firm. For sustaining the business, technology is imperative as it would be effective to secure the big data (Basal, 2015).

From the ACCA, it is founded that the organization could use the technology due to secure their data, the cybercrime that is being a major concern in the current era. It is illustrated that the information technology could faciliates to the firm for accessing the different many people at the time of the same time. Further, major accounting cultures, as well as  the organizations, sync with a single click of the mouse. Moreover, the business accessibility offers information of bank to an accountant in less time. It would be effective for the organization in secure the data and make a decision effectively. It is illustrated that the organization could consider technology in the accounting and finance department for operating the business in an effective way (Tan, et al., 2014).

Research Questions and Research Objectives

The primary purpose of this study is to evaluate the implementation of technology in accounting and finance. The following objectives will be considered by the investigator to meet the study task.

· To discover the role of technology in accounting and finance

· To ecplore, the challenges faced by the organization to implement IT in accounting and finance

· To recommend for improving the implementation of IT implementation in accounting and finance

Research question

· What is the role of technology in accounting and finance?

· What are the challenges faced by the organization to implement IT in accounting and finance?

· Which strategies are used by the organization for improving the implementation of IT implementation in accounting and finance?