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BUS301 Applied Research Project

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BUS301 Applied Research Project

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Course Code: BUS301
University: Bond University is not sponsored or endorsed by this college or university

Country: Australia

You have been a topic with respect to your profession and skills. You have to think about the key issues regarding this topic with regards to1.Which skills are important?2.The industry or profession growth3.What is the important aspects to determine?4.What do these professions do?What skills are you going to research based on your study – conclusion as it would be too much work if you tried to consider all of them.

For centuries, there has been a consistent and persistent adaptation of accounting in businesses. This is due to the power and influence that it brings in the effective running of the business or an organization. It has further led to the breakdown of the accounting field to additional phases which include; financial accounting, auditing accounting, tax accounting and managerial accounting. A lot of research studies have been conducted in relation to the contribution of the sub-accounting fields in the performances of business organizations and entities. However, the many research studies conducted have had a significantly varying reports more especially in the managerial accounting. This calls for more attention in the managerial accounting field due to the fact that more research studies have been conducted and the reporting’s are imperatively divergent in regard to its contribution in the account world (Melnyk et al. 2014, p.186)
Taking a critical review of managerial accounting, prominent scholars have indicated that it plays the skeletal work in the operation of an entity. In other words, they implied that the managerial accounting takes the most relevant role in ensuring business performances. It primarily engages in the manipulation of manufacturers/ business product cost required for the exterior financial statements. These may include the computation of a manufacturers’ income statement in regard to the sold items, the balance sheet for the cost of ending inventories among others. It may be used for job order costing, the vs period costing and the cost of joint products among others (Benner and Tushman 2015, p. 514)
Purpose of the study
With the preceding influence of managerial accounting in businesses, it has attracted an immense attention from the academic institutions. The study therefore intends to critically investigate the contribution and the impact of managerial accounting in business performances. Additionally, the study will try to point out the gaps that exist in the managerial accounting subsector and how the discovered gaps may be pointed out with the aim of making it more influence in performance (Fullerton Kennedy and Widener 2014., p.428).
Research objectives
In reference to the purpose of the study in the preceding section, the research study will be focusing on particular objectives as follows;

Evaluating and determining the impact of management accounting in the performance of a business entity
Identifying the possible existing gaps in deployment and use of managements accounting when running business entities
Pointing out ways in which the identified gaps can be filled to further foster the effectiveness of managerial accounting

As noted earlier, there has been significant effort directed by researcher towards understanding the impact of management in managerial accounting towards the business performance.
According to Otley (2016) managerial accounting requires the basic evaluative alongside the openness to learning in new environment. The researcher bases on the fact of the changing trend in the management requirements. The integration of technology and new ideas is persistently altering the way organizations and businesses operate. This is evident in the use of computer computer software packages in planning execution and evaluations of organizational activities and performances (Weygandt Kimmel and Kieso 2015).
Becoming an accountant specialized in the managerial section, an individual is required to undertake certain specific activities. Chenhall and Moers (2015) highlighted the activities that managerial accountants should undertake. Among others included the analysis of cost volume profit and cost behaviours, pricing of business products and services, conducting of activity-based costing, organization of capital and operational budgets, and analysis of profitability of product lines (Warren Moffitt and Byrnes 2015, p.407)
Research design rationale
Primarily, research design is simply the logical procedures used for collection, analysis and reporting a research study.
The research design is developed on the philosophy of the 6Ws. As answered in the introductory part. To further the understanding the research study, the psychological model of management accounting will be used (Chenhall and Moers 2015, p.13)
Data collection
Based on recommendations by reputable research scholars, the research study will take on a mixed research approach. This encompasses both the qualitative and quantitative research design aimed at collecting both quantitative and descriptive data. The qualitative analysis boosted by quantitative statistical manipulation will provide the most appropriate outcome of the study
Firstly, it is important to note that the study will make use primary research study through interviewing of relevant professional accountants working in different accounting companies. Well-designed questionnaires will also be used in collection relevant data. The questionnaire will encompass both online and hard paper. It therefore implies that the study will employ survey and interview methods as data collection techniques (Parker and Fleischman 2015, p.1850)
Data analysis
After carefully collecting the research data, a critical analysis will be conducted based on the information collected. Keeping in mind that the study used a mixed research approach, quantitative software packages like excel will be used in grouping the numerical information to help in tallying. For the qualitative data gathered, the researchers will engage in content analysis and holding further group discussions (Chenhall and Moers 2015, p.13)
 It is however important to note that there will a strike of balance between subjectivity and objectivity as a way of minimizing the chances of coming up with biased results. Biasness is one of the biggest challenges that researchers find and end up coming up with invalid report.
Managerial implications
In regard to the dynamism of todays’ world, the findings/ results obtained from the research study will help in making most appropriate adjustment to better fit the new accounting needs. Based on the objective of the study “identifying the gaps that exist in managerial accounting”, further investigation can be made so as to fill the gaps (Valmohammadi and Ahmadi 2015, p.159)
Benner, M.J. and Tushman, M.L., 2015. Reflections on the 2013 Decade Award “Exploitation, exploration, and process management: The productivity dilemma revisited” ten years later. Academy of management review, 40(4), pp.497-514.
Chenhall, R.H. and Moers, F., 2015. The role of innovation in the evolution of management accounting and its integration into management control. Accounting, Organizations and Society, 47, pp.1-13.
Chenhall, R.H. and Moers, F., 2015. The role of innovation in the evolution of management accounting and its integration into management control. Accounting, Organizations and Society, 47, pp.1-13.
Fullerton, R.R., Kennedy, F.A. and Widener, S.K., 2014. Lean manufacturing and firm performance: The incremental contribution of lean management accounting practices. Journal of Operations Management, 32(7-8), pp.414-428.
Melnyk, S.A., Bititci, U., Platts, K., Tobias, J. and Andersen, B., 2014. Is performance measurement and management fit for the future?. Management Accounting Research, 25(2), pp.173-186.
Otley, D., 2016. The contingency theory of management accounting and control: 1980–2014. Management accounting research, 31, pp.45-62.
Otley, D., 2016. The contingency theory of management accounting and control: 1980–2014. Management accounting research, 31, pp.45-62.
Parker, L.D. and Fleischman, R.K., 2017. What is Past is Prologue: Cost Accounting in the British Industrial Revolution, 1760-1850. Routledge.
Valmohammadi, C. and Ahmadi, M., 2015. The impact of knowledge management practices on organizational performance: A balanced scorecard approach. Journal of Enterprise Information Management, 28(1), pp.131-159.
Warren Jr, J.D., Moffitt, K.C. and Byrnes, P., 2015. How Big Data will change accounting. Accounting Horizons, 29(2), pp.397-407.
Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015. Financial & managerial accounting. John Wiley & Sons.

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