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Impact of Technological Advances

in Accounting Profession:
Boon or Bane?

In Partial Fulfilment of the Requirements in

(ACC154B_A) Accounting Thesis & Synthesis

Of University of St. La Salle

Bacolod City

Submitted To:
Mr. Alan Brillantes, CPA

Submitted By:
Bugtong, Rheann Marie L.
Vinson, Krisha Mae S.

January 02, 2018

Statement of the Problem:

What is the significant impact and relationship between technological advances and the

accountancy profession emerging in present times affecting future?

Objectives of the Study:

 To tackle the pros and cons affecting the Accountancy Profession and ways how to

combat the loopholes (profession)

 To provide information in order to survive long-term job (professionals)

 To determine the factors that may affect the Accountancy Students in present times


 To enhance teaching skills and create conducive space for learners (teachers)

 To deter the cost-benefit of technological advancements (business industry)

 To provide wider knowledge to end users about the influence of technological

advancements in accounting profession (people)

Significance of the Study

Technology has done great things to the society primarily to people with severe sickness

that advancement of healing process let them continue to enjoy with their beloved ones. It served

countless patients cured as well as workers to deliver their tasks efficiently and timely to the

needs of the end users.

In present time, the prevalence of technology created myriads of opportunities across the

world especially in the realm of business and sciences. Mercantilism encapsulated by

globalization provided a gate way of introducing technology in every home of society. However,

due to freewill, technology is often misused and abused by experts and even by a common

person who is out of curiosity.

Accounting Profession hand-in-hand with Information Technology are to alleviate

competence of providing quality output with reasonable assurance that the results gathered

address the needs of the business community and specific users as well. It is important to see

through the bigger structure of the occurrence of technology in Accountancy Profession so as to

prepare respected individuals in battling the consequences and organizing goals when perks

arises. Through the researchers’ efforts, Accountancy as a whole may benefit prominently and in

the years to come.

Scope and Limitations of the Study

The study is conducted using Accountancy Basic Research citing four areas of the

Accountancy Profession namely: Business Industry, Academe, Government and Public Practice.

Along with the four areas, the researchers aims to furnish results coming from secondary data

and will have interview and survey with professionals using convenient sampling. The

researchers will conduct appropriate conclusions will depend upon the results of the data

gathered and deter the relationships of variables using correlational methods to provide vivid

results thereof. Due to time bound given of one month, the researchers also can only provide

reasonable output garnered from presented results thereof.

Operational Framework

• What is the significant •Advantages and

impact and relationship Activities Disadvantages
between technological •Magnitude and Reach of
advances and the •In depth Studies Impact
accountancy profession •Documentary Secondary Data •Social and Economic
emerging in present times •Survey-Based Secondary Data •Cost and Benefit
affecting future? •Survey •Product and Process
•Convenient Sampling for Innovation
chosen CPA's
Research Problem •Interview Impact

The advances in communication and the revolution in information have turned

into landmarks for the accounting profession, as accounting remained stagnated for many

years due to its deficit position or even due to the lack of information exchange with its

users. Among these advances, the advent of Internet use stands out, which permits

information monitoring and virtual transmission. The integrated use among network

computers and the Internet have marked a new information age (Araújo, Cavalcante e

Duarte, 2003).

The above diagram shows the operational framework for this research endeavor.

Starting off with the research problems, the researchers will conduct series of activities

including archival research or in depth research in the resources available for such data.

The researchers will also conduct a series of survey and interview to its respondents.

Finally, after all the data has been collated, the researchers will analyze and determine the
impact of technological advancement in the accounting profession. The impact will be

composed of its advantages and disadvantages, magnitude, reach of impact and the like.

Research Design

This study is a descriptive, correlational and an exploratory research that attempts

to assess the existing data and information concerning technology advancement and its

impact on the accountancy profession as a whole may it be in public, academe,

government and private practice.

Descriptive research will be used in this endeavor to obtain information

concerning the current status of the phenomena to describe "what exists" with respect to

variables or conditions in a situation, (Key, 1997). It helps in providing answers to the

questions of who, what, when, where, and how associated with a particular research

problem; it cannot conclusively ascertain answers as to why (Anastas, 1999). This kind of

research can be quantitative or qualitative. As a descriptive research, the researchers will

be using survey method and interview method. The survey and interview method will be

used to develop the questionnaire which included items to measure the impact of

technology advancements in different sector of accountancy profession as a whole.

Correlational study on the other hand is generally a quantitative method of

research composed of two or more quantitative variables from the same group of

subject’s relationship or covariation (Waters, 2013). The researchers will associate the

impact of technology advancements to the accountancy profession in a manner that

determines whether it is an advantage or disadvantage for the said profession.

Also, as an exploratory research, it attempts to develop an initial, rough

understanding of a phenomenon and examines into a subject in an attempt to gain further

understanding. Also it often relies on secondary data and is generally a qualitative kind of

research. In this kind of research, the researchers may also opt to use interviews and

focus group discussions and gets an in depth opinion with the accountants and get a better

understanding of their natural setting and the emergence of technology.

The selection of participants has implications for both data collection and the data

that are available for analysis (Burgess, Pole, Evans, & Priestley, 1994) and helps to

define the limits for generalizing the findings (Eisenhardt, 1989). The target participants

of this study are in the persons in the accountancy profession primarily Certified Public

Accountants (CPA’s). The research study will focus on persons engaged in the

accountancy profession in different age groups and different sectors of accountancy

profession namely, public, academe, government and private practice. Furthermore, this

research is a cross-sectional kind of research, thus it involves observation of population

or its subset at a defined time and it will only be conducted in a short period of one (1)

month time.

Data Gathering Methods

Secondary data will be mainly used in this kind of research. Secondary data

analysis involves the use of existing data, collected for the purposes of a prior study, in

order to pursue a research interest which is distinct from that of the original work; this

may be a new research question or an alternative perspective on the original question

(Hinds, Vogel and Clarke-Steffen 1997, Szabo and Strang 1997). Before using secondary

data in this research, it must be evaluated according to its availability, relevance,

accuracy and sufficiency. Data is available when it is readily obtainable in different

sources that can be freely accessed anytime by the researcher. A data is relevant on the

other hand if it meets the requirements of the problem in a way that it has the same unit

of measurement and the concepts are the same and it is not outdated. A data is accurate

when a specification and methodology is used, margin of error is examined, and the

source is reliable. Also, a data is sufficient when there is an adequate data available to the

researchers of the study.

In this kind of data gathering method, documentary secondary data will be used

and it includes written documents like notices, correspondence, minutes of meetings,

reports to shareholders, diaries, transcripts of speeches and administrative and public

records and non-written documents like tape and video recordings, pictures, drawings,

films and television programs, DVD/CD. Survey-based secondary data will also be used.

It is the data collected by questionnaires that have already been analyzed for their original

purpose; examples of which include censuses, continuous/regular surveys and ad hoc


In summary, multiple-source secondary data is applied in this kind of research

and it is based entirely on documentary or on survey data, or can be an amalgam or the

two. The key factor is that different data sets have been combined to form another data

set prior to your accessing the data. After the collection of secondary information from

the different sources, the data collected will be compiled and tabulated and the results of

the tabulation will be analyzed for interpretation. Furthermore, for accuracy purposes,

observation method of data gathering will also be used to gather primary information or

first-hand data since no variable was being taken into account in this kind.