Nikki L.

Isip April 7,2021

BSA-3A Prof. Juris Ponio

How research can be utilized in your field as accounting major?

As commercial industries become more competitive, reports which are majorly

based on the financial status of the organizations generated by accounting methodologies

may not be enough to provide the necessary data to aid the business entities’ economic

judgement. Hence, research is a necessary part of the accounting field that cannot be

disregarded.

Research, in terms of financial accounting, elucidates the behavior and preference

of potential investors to capital market. To cite an example, there are studies about market

behavior in investing in stocks during pandemic crises. On the other hand, taxation

research provides information on the market reactions to tax laws and solutions on how

entities may minimize tax charges. Then, in terms managerial accounting, research

commonly has a more persuasive conclusion because it suggests ways on how the

management should allocate its resources, mitigate any asset waste and formulate cost

reducing methods for business transactions as well as operations.

Accounting research is not only limited to material aspects of organizations, but

also the utilization of their human resource. It examines and reforms work ethics, policies

and the overall governance of the corporation in order to align them in accordance with

the entity’s objectives. Also, it can determine the impact of the accountant’s and auditor’s

judgements in financial reporting.

 Furthermore, research can detect the flaws in the accounting process and the

auditing phase which may help in correcting any misstatements in the financial

statements. Lastly, since accounting is being modernized through the use of digital

devices, research can aid in solving accounting information system issues such as system

security, database management and system design.

Accounting research is not simply a requirement but an enlightenment of a

business phenomena. Its countless contributions to various professional fields and

academic discipline manifest through advancement and reformation of technology and

knowledge in the business field. Though research considered as one of the tedious task in

the professional field, it is undeniably essential. Accounting research explains the pasts,

justifies the present and predicts the future economic events and decisions. It identifies

the problems and discover solutions. It keeps the accounting profession exciting and

keeps the business entity to further thrive.