Future of Accounting & Financial Reporting-Samples for Students

Question: Explore real world Problem/Issues in Business in relation to accounting field. Answer: Introduction This project is highly related with the field of accounting and finance as a part of the higher level of accounting course. In recent years, some major problems have been seen in accounting and financial reporting like unethical accounting practices, unethical auditors reports, not complying with accounting principles and standards and others. These real world accounting and financial issues are affecting the future of accounting and financial reporting. Source of Secondary Data For this research, secondary data will be collected. The sources of secondary are various accounting journal articles from authentic sources on accounting; previously done research papers from renowned articles; websites of different companies and accounting books. All sources will be of the year 2012 onwards. Research Questions What are the current issues in the businesses in the field of accounting and finance? What are the impact of these accounting and financial issues on the future of accounting and financial reporting? What are the ways to overcome these accounting and financial issues in businesses? Key Terms The major key terms that will be used in Google Scholar are accounting issues, financial reporting issues and financial issues and sources from 2012 and onwards will be taken. Literature Review In the recent years, the number of corporate accounting and financial scandals has been increasing in a fast pace (Kothari Lester, 2012). The aspect of unethical accounting can be held responsible for all these accounting and financial scandals (Agrawal Cooper, 2015). As a result, all these accounting scandals are affecting the future of accounting and financial reporting in the businesses (Mala Chand, 2012). References Agrawal, A., Cooper, T. (2015). Insider trading before accounting scandals.Journal of Corporate Finance,34, 169-190. Available online at https://www.researchgate.net/publication/228226033_Insider_Trading_Before_Accounting_Scandals Corporate Collapse: Regulatory, Accounting and Ethical Failure. (2017).Google.co.in. Retrieved 3 August 2017, from https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwi75c7gqLrVAhVMwI8KHePvBuUQFggnMAAurl=http%3A%2F%2Fwww.springer.com%2Fcda%2Fcontent%2Fdocument%2Fcda_downloaddocument%2F9781461480969-c2.pdf%3FSGWID%3D0-0-45-1426327-p175276329usg=AFQjCNFL6IytiDDvtXKhvpFgjI8TVdM5Yw Kothari, S. P., Lester, R. (2012). The role of accounting in the financial crisis: Lessons for the future.Accounting Horizons,26(2), 335-351. Available online at https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwiRhc-kp7rVAhUST48KHeSDC94QFggnMAAurl=https%3A%2F%2Fdspace.mit.edu%2Fopenaccess-disseminate%2F1721.1%2F75267usg=AFQjCNH-xGmkbeC6yCAWY3IpU45s0rlxow Mala, R., Chand, P. (2012). Effect of the global financial crisis on accounting convergence.Accounting Finance,52(1), 21-46. Online Available at https://onlinelibrary.wiley.com/doi/10.1111/j.1467-629X.2011.00418.x/epdf?r3_referer=woltracking_action=preview_clickshow_checkout=1purchase_referrer=onlinelibrary.wiley.compurchase_site_license=LICENSE_DENIED Sharma, A., Panigrahi, P. K. (2013). A review of financial accounting fraud detection based on data mining techniques.arXiv preprint arXiv:1309.3944. Available online at https://pdfs.semanticscholar.org/04e9/4a36c8e9870bcb2f090aeae2fc29075059ec.pd