Revised Research -Proposal_A-338_Group 1 _A Study of Technological Adaptation of Top Selected Accounting Firms in Angeles City

A Study of Technological Adaptation of Top Selected Accounting Firms in Angeles City 1
HOLY ANGEL UNIVERSITY
A Study of Technological Adaptation of Top Selected Accounting Firms in Angeles City
School of Business and Accountancy
Holy Angel University
Submitted to:
Sir. Gian Carlo Catahum
Submitted by:
Cruz, Allieyah Kate Y.
Gabriel, Hazel
Gozum, Trisha Mae D.
Layug, Jhaister Ashley
Payabyab, Izza Laine R.
Santos, Hummiel Francis Y.
Serrano, Allysa Jerlyn S.
A-338
Table of Contents
Chapter 1: Introduction
Background of the Study ------------------------------------------------- 3
Problem Rationale --------------------------------------------------------- 4
Research Objective -------------------------------------------------------- 5
Significance of the Study ------------------------------------------------- 5
Scope and Limitation ---------------------------------------------------- 6
Chapter 2:
Literature Review -------------------------------------------------------- 7
Conceptual Framework ------------------------------------------------- 17
Research Questions ------------------------------------------------------17
Hypothesis -----------------------------------------------------------------18
Chapter 3: Methodology
Participants ----------------------------------------------------------------19
Research Design ---------------------------------------------------------- 19
Research Instruments ---------------------------------------------------20
Procedure ----------------------------------------------------------------- 20
Ethical Considerations --------------------------------------------------20

Chapter I
Background of the study
The science of bookkeeping entails accurately logging, categorizing, and
summarizing transactions and events that are even remotely related to money, as well as
evaluating the findings. Another name for bookkeeping is a framework for measuring,
organizing, and communicating financial data that functions almost like e-commerce.
Because of advancements in data innovation, accounting frameworks have been much
improved and financial life has changed. By enabling faster report sharing, research,
collaboration with distant coworkers, information collection, and investigation, computers
and other modern technology have increased workplace productivity. Due to data innovation,
individual financial participants now have underused tools for determining and pursuing
financial and commercially viable outcomes.
The application of information technology in accounting is a novel system. Today,
the majority of businesses from massive corporations to tiny businesses rely on new
technology to aid in the management of their operations. This essay also examines the
various accounting procedures. Every firm relies heavily on accounting, and adopting
technology may increase computation speed and accuracy as well as data storage flexibility
and security.
Technology is advancing at a rapid rate, and this is transforming the accounting
industry. Automation, minibots, machine learning, and adaptive intelligence are reportedly
becoming a part of Accenture's financial team at a lightning-fast rate, despite the fact that
many organizations already employ basic automated accounting procedures, according to
Forbes.
According to Forbes, among the accounting tasks and procedures that computers may carry
out or streamline include supplier onboarding, accounts payable, audits, procurement,
purchasing, cost management, and closing processing.
The way organizations operate has changed as a result of computers, the Internet,
software, and even personal digital devices. The accounting system has evolved along with
information technology. Any advancement in accounting, especially the accounting
department, will be advantageous to the corporation because accounting deals with business
data.
Our understanding of technology has improved, and so has the accountant's capacity
to decipher statistical data. The ability of the accountant to analyze data quickly and
effectively has improved thanks to accounting technology. The accountant has evolved into
the most dependable business advisor for a corporation because of how easily he or she can
now understand business jargon.
Problem Rationale
Because of technological advancements, the accounting industry has undergone
significant changes in recent years. These changes have resulted in increased accounting
process efficiency, accuracy, and speed, as well as improved client service (Taha, 2021).
Many accounting firms, however, are still struggling to adopt new technologies and integrate
them into their workflows.

The problem being addressed in this study are the following:
1 How may the accounting firm be described in terms of the following:
a) Number of Years in Operation
b) Services Offered
c) Technology Used
2 What is the level of technological adaption of the selected accounting firms in Angeles
City?
3 What are the best practices in integrating new technologies among selected firms in
Angeles City?
Research Objectives
The main objective is to investigate the current state of Technological Adaptation of
Top selected Accounting firms in Angeles City, including the types of technology being
used, their impact on accounting processes, and the difficulties encountered in their
implementation.
Significance of the Study
This study aims to determine whether the technological adaptation affects the operation of
Top selected accounting Firms in Angeles City . The result of this research will be beneficial to the
following:
Selected Accounting Firm. The study will serve as an instrument for the firm to be
aware of what is really happening inside their organization. The study will also help the firms
to know which method is effective in processing their works with the use of technology.
Moreover, this will be their guide to know what action they should be implementing for them
to improve their operation.
Clients. This study will be beneficial for the clients or the customers of the firms
because they will be able to know how the firm really works on their concerns. This study
will also help the clients to better understand the situation around the firm.
Other Unselected Firms. The study will help other unselected accounting firms to
have additional knowledge for them to satisfy the needs of their clients. Furthermore, this can
also be their guide in assessing their firm if they successfully utilized the adaptation of
technological advancement.
Future Researchers. The study will help future researchers who want to know more
or to investigate the topic of technological adoption of accounting firms. This study can also
be their guide in researching the adaptation of technological advancement.

Scope and Limitations of the Study
The scope of this study is on the accounting firm’s employee technological
adaptation. It will assess whether accounting firms effectively utilized the use of technology
in processing accounting-related concerns of their clients. It is necessary for any company to
ensure that all of its employees are able to adapt new working methods, for the benefit of the
firm. The adaptation of the employees includes technological adaptation in processing
clients' accounting concerns.
The researchers will limit this study to the respondents which are various financial
institutions, including accountants, auditors, bookkeepers, and employees of the firm who
deal with client compliance. In the chosen five (5) firms’ employees, including the firm's
CPAs—who are responsible for compliance.

Chapter II
Literature Review
Bookkeeping is the science of recording, classifying, and summarizing exchanges and
events that are, at slightest in portion, monetary in nature, in an important and money related
way, as well as assessing the discoveries. Bookkeeping is additionally known as a money
related data framework that measures, forms, and communicates money related information
almost as a commerce. Bookkeeping frameworks have been enormously upgraded, and
financial life has been changed, much appreciated to progresses in data innovation.
Computers and other advanced innovation have boosted work environment efficiency by
permitting for quicker report sharing, investigate, participation with removed colleagues, and
information collection and investigation. Person financial players presently have unused
apparatuses for finding and seeking after financial and commerce conceivable outcomes
since to data innovation.
Accounting's introduction of information technology is a novel system. Most
businesses today, from huge corporations to small businesses, rely on new technology to help
them manage their operations. This paper also goes through the many sorts of accounting
processes. Accounting is a crucial aspect of every organization, and using technology may
improve the speed and accuracy of computations, as well as the flexibility and security of
data storage
How to enhance your business using recent technological developments. Seong Ohm,
a senior vice president of merchandising business services at Sam's Club, asserts that small
businesses must adapt and integrate web technology into their regular business operations in
order to remain competitive. These are just a few examples of how technology may help your
company. One advantage of this is simpler bookkeeping. Nobody enjoys doing their taxes or
keeping the books. Modern technology might make it easier for you to keep track of all the
required receipts, invoices, deductions, and expenses.
A large part of the growth that occurs in companies nowadays is driven by
technological advancements. Companies must stay on top of the rapidly evolving
technological landscape to survive in the competitive business environment. Making wise
digital investments encourages collaboration among employees who are actively engaged,
improves decision-making, and eventually increases profitability. Invest in interactive,
hands-on training for your staff. You run the risk of lowering staff productivity and morale if
they don't fully grasp how to use the new technology.
To make the adoption of new technology simpler and more effective, hold seminars,
frequent meetings, and ongoing training sessions. As you're getting ready to roll out new
business tools, think about educating a group of employees first so they can subsequently
train their respective teams. Each successful business must stay current with technological
advancements. The appropriate technology helps you adapt to market changes by increasing
flexibility and streamlining operations. These methods can make implementing new
technology into your company simple and cost-effective.
For maintaining or expanding competitive advantages, it is now common practice to
integrate new technology into the corporate environment. The current study focuses on the
managerial and environmental aspects of the effective application of new technology. In

order to do this, the proposed framework evaluates the efforts made by the two parties
engaged (the firm buying and the firm supplying the new technology). In business-to-
business markets, the customer relationship management (CRM) system collects 112
matched data from suppliers and buyers. We discover that perceived business environment
volatility prompts adaptive efforts from both supplying and buying organizations, which may
result in a high level of new technology use for the buying firm.
Over the next ten years, the abilities that auditors need to possess will change.
According to Deloitte & Touche LLP partner and national managing partner of digital
transformation and innovation Jon Raphael, new work with technology will involve
deciphering advice from cognitive tools and assessing advanced data. CPAs will be able to
give clients more knowledge about decision-making as a result. In order to explain data to
clients and aid them in understanding the facts, audit professionals will also need to be
proficient communicators. According to Raphael, specialists will oversee technologies and
algorithms in addition to inspecting client technologies that do not yet exist. The end result
ought to be an improvement in the quality of audits and a quicker delivery of information to
businesses.
According to Christauskas and Miseviciene (2012), digital technologies, such as
Cloud, have the potential to improve the quality of business-related decision-making.
Furthermore, Phillips (2012) stated that clients and accountants might always communicate
via the Cloud. The cloud provider can provide data security and eliminate the risk of data that
is not synchronized.
Any organization's success depends not only on the quality of its staff but also on
how well these people are used and coordinated to achieve the organization's mission. Given
the increasing complexity of the workplace, the rapid transformation of organizations, and
technological advancement, the significance of training and development becomes even more
apparent. Organizational members get the knowledge and skills they need to do their jobs
well, take on new responsibilities, and change with the times through training and
development.
In recent years, information technology has greatly accelerated the expansion of
accounting compliances and the range of services offered. Because its absence could result in
poor decisions and ultimately business failure, information technology has become an
essential business resource. The purpose of the study is to determine how accounting
information production is affected by information technology.
The study adopts Christensen's (2016, p. xiii) definition of "technology" as "the
processes through which an organisation turns labour, capital, materials and information into
products and services of increased value". This study examines a number of technologies,
including blockchain, AI, big data, and the cloud. The work of accountants and accounting
researchers could be drastically changed and disrupted by these technologies (see, for
instance, Cooper, 2017). Some of these technologies serve as the foundation for Industry 4.0,
the next generation of industrial systems where "smart" machines increasingly manage
production and maintenance decisions (Penas, Plateaux, Patalano, & Hammadi, 2017).
Information technology (IT) has been increasingly important to the public accounting
sector's services in recent years. But no empirical study has assessed how IT has affected
public accounting firms. This research focuses on five offices of a global public accounting
company that recently made significant IT investments, mainly in knowledge-sharing and
audit tools. The research site's quantitative and qualitative data are reviewed to make an
estimation of the productivity shift brought on by the use of IT. Regression analysis and Data
Envelopment Analysis (DEA) findings show that productivity increased significantly after IT
was implemented, demonstrating the value that IT has brought to a public accounting
business.
According to Dyball & Seethmaraju, although being a tiny group, Australian
accounting firms have either already secured or are considering engagements with clients
who operate bitcoin businesses or employ blockchain technology. There is a belief that
because blockchain technology is unique, it presents risks that have never been seen
previously in audit engagements. These risks would probably change how businesses plan,
develop auditing procedures, and carry out financial statement audits. The study
demonstrated that the logics of professionalism and commercialism are complementary
rather than in opposition. For businesses looking to apply and grow their audit skills in a
developing field of audit, they provide both opportunities and challenges.
The widespread adoption of information technology (IT) has had a significant impact
on company structures and service offerings across industries. Think about the professional
service sectors like accountancy firms, where providing services is the main aspect of their
everyday work. Many businesses are currently grappling with the crucial problem of how to
use IT successfully and raise the caliber of their services. This paper's goal is to offer a
demonstrative analysis for the "Value Shop" model's evaluation of worthwhile activities in
professional service firms. Then, using a case study of Taiwanese accounting firms,
determine the strategic advantages of IT investments with the related value activities. The
results show that, whether it be strategy-focused, managerial, or operational activities, IT
investment is beneficial for routine business operations in such firms.
The nature and economics of accounting tasks have changed as a result of
information technology’s increasing use in enterprises. The development of cloud computing,
extensible Business Reporting Language, and business analytics in particular during the past
few years has revolutionized how businesses report financial performance and make business
choices. As a result, accounting professionals are in greater demand than ever for advanced
IT abilities.
Accounting, as we all know, has existed since the medieval period and has evolved
with the advancement of human civilization. Every record, whether related to cash/bank,
sales, purchases, fixed assets, or journal entries, was written down on paper. Accounting
practices have evolved as a result of technological advancements. Accounting has greatly
benefited from technological advancements. Nowadays, it is difficult to find anyone who
practices manual accounting. Accounting records are computerized for large corporations,
medium and small businesses, partnerships, and sole proprietorships. (Pristine,2015)

Accountants' roles have shifted from compliance to consultation and advice.
Compliance will be handled by technology, while accountants will analyze, interpret, and
communicate data to various stakeholders. (Contessotto, 2022)
As accountants' ability to capture big data grows, so does the demand for
appropriately qualified professionals who can interpret, analyze, and advise based on this
data. The ability to work with this data opens up opportunities for accountants to be integral
in managing the direction of corporations large and small. ( Contessotto,2022)
As stated by, Kaushal & Anisa (2020), Technology's impact on accounting has
become so significant that it has broadened the role of an accountant. Given that major time-
consuming tasks can now be completed with the click of a button, accountants can now focus
on data analysis to make better business decisions and strategic plans for their clients.
Because everyone can now view and interpret data remotely, industry analysis is now a
simple process. Accounting software and application advancements have specialized
accountants' work.
By fusing new technologies with creative environments, accounting has a rare
opportunity to unleash its hidden disruptive potential and go in new directions toward more
humanistic models of various narratives.
Accounting systems for companies have been greatly improved by advances in
information technology, making them more efficient and effective. However, they are not
perfect and can be ineffective. To be effective, companies must select compatible systems
and software, and computers cannot replace the role of man in accounting systems.
(Lim,2013)
Technology advancements have enabled companies to computerize their information
systems. Because of substantial advancements in technology, accounting information
systems have also become automated. Opportunities have developed as a result of the
adoption of computerized accounting information systems. Using technology has allowed
companies to do accounting tasks more quickly and efficiently. This has resulted in
substantial time and money savings. The ability for companies to get further to paperless
offices has been made possible by the use of technology for accounting tasks. (Ghasemi et
al., 2011)
Recent cloud accounting systems enable both clients and accountants to execute their
tasks more efficiently, while also ensuring data security, improving data synchronization, and
reducing the risk of unsynchronized data. Cloud computing is projected to play a significant
role in the collection and production of accounting data and information. The arrangement of
cloud computing and Big Data has created several opportunities and benefits. Big Data is a
key factor in the advancement of AI. The term "digital transformation” refers to more than
just the adoption or acceptance of new technologies. It is more about leading a broader or
structural transition that is accompanied by new technology.
Artificial intelligence (AI) has existed in a variety of industries, including
autonomous driving, medical care, business support, banking, education, marketing, the
environment, security, and the military. The analysis and use of accounting data is advocated,
particularly in accounting, allowing for faster high-level analysis and the use of the results to
link to management strategies or other activities. It is now feasible to detect fraudulent
transactions, notice abnormalities or errors early on, and recognize and improve them before
problems arise (Yook, 2019)
In contrast, AI provides guidelines for a new cost estimation methodology.
Traditional parameter techniques have mostly been resolved by recent breakthroughs in
algorithms and machine learning, which have increased performance and application.
“EasyKost” is an example of software that uses this AI algorithm. This allows for the instant
determination of the cost of new products or services by exploiting huge volumes of data and
eliminating the need for specialized understanding of industrial technologies and processes.
Most of the studies that look at the accounting profession as a whole focus on big data
analytics. Richins et al. [46] discuss how accountants may play a strategic role in the era of
big data, examining the benefits and drawbacks that new technology can bring to the
accounting profession. Al-Htaybat and von Alberti-Alhtaybat looked into the specific
relationship between big data and corporate reporting, determining the existing state and
influence of big data on corporate reporting.
“Accountants have specific expertise as business specialists,” according to Coyne. As
a result, bookkeepers are profitable collaborators within the plan and administration of data
frameworks with data innovation (IT) pros, not as it were as end-users of corporate data but
too as advocates for other inside and outside decision-makers”
The necessity for human accountants will not go away anytime soon, according to
senior accountants at large firms. Many experts believe that the abilities required for
successful accounting and auditing will change in the future, and others admit that they will
need many fewer entry-level accountants in the coming years.
The manner in which businesses, assets, and people will be integrated with smart,
connected technology. The utilization of data and information will change as a result of these
developing technologies, which is one of their most important aspects. Companies will be
able to operate more effectively as a result.
According to Kokina and Davenport [45], employment losses linked with the
introduction of artificial intelligence technologies will be modest and minimal in the medium
term, as these technologies replace individual functions rather than entire jobs.
Synthesis
According to Review of Related Literature, many transaction forms were rearranged
hence making productive operations. The reasonableness of computer technology for little
commerce substances makes incredible openings for these substances to make strides their
business. Information innovation headways made compelling and effective data stream that
upgrades managerial decision-making, subsequently expanding the firm’s capacity to realize
corporate and commerce technique goals. This in turn, may increment the prospects of the
firm’s survival. Information technology connected in bookkeeping isn't culminate. Now and
then we must consider the reality that they are fair piece of innovation. With respects to the
bookkeeping information system of a trade, these systems greatly offer assistance within the
bookkeeping forms. In any case, we must consider the plausibility that the framework might
be ineffective now and then, same with a few bookkeeping programs. Commerce substances
much select consistent systems and program for them to be effective. In these progressed
days in data innovation, computers have made strides the bookkeeping forms but computers
can’t supplant the part of man within the bookkeeping systems.
Conceptual Framework
Research Questions
The researchers analyze the situation on adapting technology of the firm these
questions are made based on the aims of the researchers.
1. Is the current financial law up to date enough to deal with the financial world of today?
2. When it comes to processing the compliances of their clients' businesses, how does the
company adapt to technology?

3. What is the typical software or platform that your company employs on a daily basis?
4. Why should the company spend more on accounting department technology resources?
5. What are the most frequent issues clients encounter when using the technology provided
by the BIR to comply with their tax records?
6. When should a business think about hiring an accountant?
7. Should the government make accounting easier and more accessible?
8. What are the best ways for accountants to ensure that financial records are accurate?
9. Do accountants have a moral responsibility to comply with all of their clients' instructions,
even if they ask for something that isn't appropriate?
10. Using the digital flat form provided, how does the company improve their accounting
standards?
Hypotheses/Propositions
The interest of this study is to analyze the effect of technological adaptation in
processing clients’ accounting concerns. The study aims to answer the following question:
1. Does technological adaptation make a difference in their work process?
Ho1: There is no significant difference on the technological adaptation in their work process.
Ha1: There is a significant difference on the technological adaptation in their work process.
Methodology
Participants
The study will use convenience sampling in which this sampling method involves
getting participants wherever you can find them and typically wherever is convenient
(Business Research Methodology, n.d). The researchers have prepared set of questions for
the participants chosen through the sampling, which include (1) the experiences with how
LPT accounting firm successfully used technological advancement in processing their tax
compliance, (2) how technological advancement helped the participants to easily process
their concerns, and (3) how satisfied they felt working for their respective accounting firm.
Research Design
The researchers chose the Qualitative Research Method as their research design
which focuses on one or more instances over time and gathers detailed, in-depth data from a
variety of sources. (Creswell,2013). These many data sources include textual, visual, and
audio files pertaining to the case or cases. Using several sources of information leads to
integration, which improves the validity of a researcher's data. Since the researchers want to
know the impact of Technological Adaptation of selected Accounting Firm in processing
their works, the researchers will be interviewing the said firm to get the answers. The specific
methodology used is a descriptive method, according to McCombes (2019), Descriptive
research can use both qualitative and quantitative research methods. aims to accurately and
systematically describe a population, situation or phenomenon. It can answer what, when,
where, when and how questions, but not why questions.
Research Instrument
Interview is the tool that was utilized by the researchers. An interview relies on
asking questions in order to collect data. (George ,2020) which can be asked verbally. It is
used for gathering data from a respondent to gain information and insights on various topics
of interest. The researchers want to make sure that the participant was able to answer the
questions without biased opinions. The online survey questionnaire for accountants, auditors,
and financial managers had a significant impact on data collection for the study. Using the
research instruments mentioned above, this research study was completed successfully.
Procedure
Before the interview will take place, the researchers will prepare the interview
questionnaire that they originally created for their study. There will be one participant for the
interview.
On the day of interacting with the respondent to answer the questions for the
interview, one of the researchers will give informed consent to the participant who will
participate. Then, the other researcher’s role is to take note of the participant’s answers.
The first page of the questionnaire consists of informed consent, followed by the
participant’s name and date of the day they had the interview. On the next page, the questions
are ready to be asked by the interviewee.
Ethical Consideration
The researchers do have ethical considerations, such as: risk of harm, confidentiality,
and voluntary participation. These considerations promote the good values of the researchers
while accomplishing their study. They ensure that their participants are safe, they will not be
subjected to harms and risks, and their safety will be one of the primary considerations.
The identities and personal information of the research participants will not be revealed to the
public and confidential documents will be protected. The research participants will not be
forced to participate in the research undertaking.

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A Study of Technological Adaptation of Top Selected Accounting Firms in Angeles City 1

HOLY ANGEL UNIVERSITY

A Study of Technological Adaptation of Top Selected Accounting Firms in Angeles City

School of Business and Accountancy

Holy Angel University

Sir. Gian Carlo Catahum

Cruz, Allieyah Kate Y.

Gozum, Trisha Mae D.

Layug, Jhaister Ashley

Payabyab, Izza Laine R.

Santos, Hummiel Francis Y.

Serrano, Allysa Jerlyn S.

Background of the Study ------------------------------------------------- 3

Problem Rationale --------------------------------------------------------- 4

Research Objective -------------------------------------------------------- 5

Significance of the Study ------------------------------------------------- 5

Scope and Limitation ---------------------------------------------------- 6

Literature Review -------------------------------------------------------- 7

Conceptual Framework ------------------------------------------------- 17

Research Questions ------------------------------------------------------17

Research Design ---------------------------------------------------------- 19

Research Instruments ---------------------------------------------------20

Ethical Considerations --------------------------------------------------20

Background of the study

The science of bookkeeping entails accurately logging, categorizing, and

Because of advancements in data innovation, accounting frameworks have been much

collaboration with distant coworkers, information collection, and investigation, computers

financial and commercially viable outcomes.

The application of information technology in accounting is a novel system. Today,

Technology is advancing at a rapid rate, and this is transforming the accounting

many organizations already employ basic automated accounting procedures, according to

out or streamline include supplier onboarding, accounts payable, audits, procurement,

purchasing, cost management, and closing processing.

information technology. Any advancement in accounting, especially the accounting

now understand business jargon.

Because of technological advancements, the accounting industry has undergone

them into their workflows.

The problem being addressed in this study are the following:

1 How may the accounting firm be described in terms of the following:

a) Number of Years in Operation

The main objective is to investigate the current state of Technological Adaptation of

Significance of the Study

to improve their operation.

be their guide in researching the adaptation of technological advancement.

Scope and Limitations of the Study

The scope of this study is on the accounting firm’s employee technological

in processing accounting-related concerns of their clients. It is necessary for any company to

firm. The adaptation of the employees includes technological adaptation in processing

clients' accounting concerns.

CPAs—who are responsible for compliance.

Bookkeeping is the science of recording, classifying, and summarizing exchanges and

way, as well as assessing the discoveries. Bookkeeping is additionally known as a money

almost as a commerce. Bookkeeping frameworks have been enormously upgraded, and

since to data innovation.

Accounting's introduction of information technology is a novel system. Most

required receipts, invoices, deductions, and expenses.

A large part of the growth that occurs in companies nowadays is driven by

technological advancements. Companies must stay on top of the rapidly evolving

technological landscape to survive in the competitive business environment. Making wise

improves decision-making, and eventually increases profitability. Invest in interactive,

they don't fully grasp how to use the new technology.

technology into your company simple and cost-effective.

For maintaining or expanding competitive advantages, it is now common practice to

managerial and environmental aspects of the effective application of new technology. In