Accountancy Research Introduction

1. ACCOUNTANCY
RESEACH IN
PRACTICE
Chapter 1 (week 2)

2. Topic in this Chapter
I. Rationale and Objectives of Accountancy
Research in Practice
II. Types of Accountancy Research
III.Applications of Accountancy Research in
Practice.
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3. LEARNING OUTCOMES
1.Articulate the purposes of accounting
research
2.Differentiate accounting research by
academicians and practitioners
3.Enumerate applications of accounting
research in practice
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4. RATIONALE OF ACCOUNTANCY
RESEARCH
Today’s accountants must possess the knowledge to
remain updated and the competencies to critically
contribute to the solution of problems in organizations
and industries. One must present his/her own views
through formal and informal communication. Research
and communication skills are essential in the business
environment as well as in public service. This is the
essence of accountancy research.
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5. RATIONALE OF ACCOUNTANCY
RESEARCH
Research per se is important for three reasons, namely:
a. It enhances our knowledge on issues and problems
surrounding our business, work environment and
industry.
b. It promotes quality improvement in our various
undertakings, processes, and policies
c. It allows an intelligent discussion, debate, and analysis
on vital concerns in our environment.
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6. Objectives of Accountancy
Research
1. Management Policy. Though research, organizations may find
solutions to their business problems and address them through improved
policies, programs and procedures.
2. Legislation . Research can pave the way to improve laws affecting
organizations. Poorly researched legislation may end up hurting society
and the economy.
3. Commercialization. Private companies operate for profit and they
continuously search for and develop new products and services
stemming from ideas that can be commercialized. Thus the role of
market studies, feasibility studies and business plans serve this purpose
of accounting research.
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7. Types of Accountancy Research
1. AUDIT. Audit refers to the conduct of an official examination of an
individual or organization’s accounts or records. Audit is always
research-based as authors employ numerous data gathering as well as
data analysis techniques to be able to render a fair and creditable audit
opinion.
2. BUSINESS RESEARCH. This type of research makes use of
accountancy research techniques in many of its component sections
(marketing, production, financial projections, and risk assessment).
3. TECHNICAL RESEARCH. This type of applied research is oriented
toward engineering disciplines and other sciences, aimed at developing
tools, equipment and procedures, and at providing solutions to a specific
production or technology-based problem
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8. Types of Audit
1. Financial Audit – focuses mainly on financial statement
2. Quality Audit – a process of examination and verification procedures, records,
activities and personnel within a prescribed quality system
3. Fraud Audit – usually conducted by external auditor not only to detect fraud but
also to analyze the root causes, and consequently to recommend preventive
measures.
4. Operation audit – sometimes called management operations review, this type of
non-financial audit focuses on compliance with operating procedures, polices
and standards of a company or a group
5. Tax Audit – a formal examination conducted by the BIR to verify information or
uncover inaccurate tax returns or fraud.
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9. Sample research related to audit
IMPACT OF INTERNAL AUDIT QUALITY ON FINANCIAL STABILITY
EFFECT OF INTERNAL AUDIT ON FINANCIAL PERFORMANCE OF
COMMERCIAL BANKS IN KENYA
THE IMPACT OF INTERNAL AUDIT ON FINANCIAL REPORTING
QUALITY
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10. Types of Business Research
1. Feasibility study – a type of research that analyzes a project’s financial or
economic market, technical-operational, politico-legal and socio-environmental
considerations to ascertain the likelihood of its success.
2. Business planning. A business plan is a document that details how a business,
usually a start-up, defines its objectives, goals, and how it seeks to achieve
them.
3. Market Research and Market Planning – refers to an organized effort to gather
information about target markets, customers or clients.
4. Human Resource Planning – is an essential part of every successful
organization. The goal is to optimize the firm’s most valuable asset- its
employees.
5. Production or Operations planning – it is a critical process which organizes in
the most efficient manner the various resources in production or operations of
the company, how they are processed systematically, minimizing wastages and
losses, optimizing margins or profits, ensuring customer satisfaction, etc
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11. Sample business research
Modern Methods of Increasing Employee Productivity
Paperless Accounting Process in Small Business
Accounting practices of MSMEs
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12. Sample Technical research
 The Impacts of Emerging Technologies on Accountants’ Role and Skills:
Connecting to Open Innovation
Disclosure Regulation in the Commercial Banking Industry
Financial Management Practices of Poultry Industry in Antipolo City
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13. Types of Technical Research
1. Computerization planning – is a type of research that requires a whole
lot of choosing the right program and operating system, the most reliable
vendor or service provider, leading to the most useful and well designed
user reports.
2. Project Planning – this is the next phase after the feasibility study for a
project and well before it is launched. It refers to the steps takes to set
up a project for success.
3. Tax Planning – this refers to the analysis of a financial situation or plan
to ensure that all elements work together for a particular client or entity to
pay the lowest possible tax.
4. Industry Research – a type of research that pertains to highly
specialized industries or sectors like agriculture, forestry, aquaculture,
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14. Homework
Choose 5 news articles in a newspaper or in
internet. Identify a potential research problem that
has accounting or financial implication (Atleast 5).
Write your report in yellow paper. Must be
handwritten. Be ready for oral recitation next
meeting. Random students will be called to
present their outputs.
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