Leader: Rosemarie C.

Ramos
Members: Abao, Angelo
Cortez, Tracy Lucille
Pantoja, Arvin
Torres, Rizza Mae

Introduction to accounting research

1. Explain the importance of accounting research in a business environment

Accounting research is far more important than that of what we think of,
Accounting plays a vital role in running a business. It helps businesses to track
income and expenditures, ensure statutory compliance, and provide investors,
management, and government with quantitative financial information which can be
used in making business decisions and then affect the business performance. Before a
business starts it needs to perform research about business environment. Not
researching about business environment's language might lose its business
performance in terms of competition in market places. Accounting research can lead
to more profits and successful business operations. Accounting research about
business environment is simple but then important and it is the first variable that the
researcher must perform to prepare its business in a language known from country to
country which is Accounting. Not researching is like a person that eat delicious food
and then poisonous food without knowing it has a poison
In addition, the importance of accounting research in a business environment
is that it helps to create new knowledge about how to improve accounting standards
for the businesses who currently facing crisis in terms of financial, management,
advertising, marketing and other issues in the business industry that can explain and
solve by collecting evidence, doing surveys, experiments and research methods thus
students can create recommendation based on the conclusions of the study. This
accounting research will help to discovering new ideas and practices specially this
time of pandemic, a lot of businesses struggles when it comes to profit or loss of their
financial statement.

2. Define and explain research, importance of research, purpose of research, and

kinds and classification of research

Research

Research is a systematic investigative process used to find a solution to a

current problem and to generate new knowledge or validate existing knowledge by
discovering new facts in order to get the most accurate results. It is limited and
concentrates to a specific scope. It is a process of searching again for information that
is already available in our world but, no one has made sense about it yet. Thus, this
makes the process of research as a way to discover relatively new things.

Importance of Research

All educational research is premised toward the extension of knowledge and

the solution of problems. By influence the over-all function of research is to improve
various processes, whether educational, economical, social, political and cultural
through the refinement and extension of knowledge. This acquisition of new
knowledge is basically an immediate step toward the improvement of our lives. After
the data have been analyzed and tabulated, the researcher decides what information
they provide. Results are summarized and lumped together, analyses are interpreted.
Conclusions are drawn from the hypothesis if the hypothesis were tested. The
research report is prepared and its importance adds to the knowledge and theory and
incorporated into the existing body of knowledge. Drawing conclusions with their
implications is very important. In essence, this was the primary purpose of conducting
an investigation. Drawing conclusions requires analysis, interpretation, synthesis, and
insights.

In Addition, Research is important to ascertain whether one’s ideas are

supported by previous studies or if these ideas still need further proof to be considered
knowledge. Research is necessary to empowers us with knowledge, we get to know
the way of nature, and how our actions affect it. We gain a deeper understanding of
people, and why they do the things they do. Reading and keeping up with scientific
findings sharpen our own analytical skills and judgment. It compels us to apply
critical thinking and exercise objective judgment based on evidence, instead of
opinions or rumors.

Furthermore, the following are the Importance of Research:

 Expands knowledge base and new discoveries
 Creates new ideas
 Gives the latest information that happens in the world
 Helps in problem-solving
 Encourages curiosity
 Helps find ways to allocate scarce resources accordingly
 May help in studying the effects of observed phenomena
 Develops critical thinking analysis
 Helps succeed in business
 Allows us to disprove lies and support truths
 A means to find, gauge, and seize opportunities
 Promotes a love of and confidence in reading, writing, analyzing, and sharing
valuable information
 Provides nourishment and exercise for the mind

Purpose of research

Research serves many purposes. Three of the most common and useful
purposes, however are exploration, description, and explanation.

1. Exploratory research is the first research to be conducted around a problem that

has not yet been clearly defined. Exploration research therefore aims to gain a better
understanding of the exact nature of the problem and not to provide a conclusive
answer to the problem itself. This enables us to conduct more in-depth research later
on.

2. Descriptive research expands knowledge of a research problem or phenomenon by

describing it according to its characteristics and population. Descriptive research
focuses on the ‘how’ and ‘what’, but not on the ‘why’.
3. Explanatory research also referred to as casual research, is conducted to determine
how variables interact, i.e. to identify cause-and-effect relationships. Explanatory
research deals with the ‘why’ of research questions and is therefore often based on
experiments.

To review or synthesize existing knowledge, investigate existing situations or

problems, provide solutions to problems, explore and analyze more general issues and
Generate new knowledge (Collis & Hussey 2003)

In addition, The purpose of research are to inform action, gather evidence for
theories, and contribute to developing knowledge in a field of study. In a broad sense,
the purpose of research is to enhance society by advancing knowledge through the
development of scientific theories, concepts and ideas. A research purpose is met
through forming hypotheses, collecting data, analyzing results, forming conclusions,
implementing findings into real-life applications and forming new research questions.

Kinds and classification of research

There are two ways of classifying research, one way is to classify research on
the basis of its purpose, and the other is to classify research on the basis of the method
employed in research.

Classification of Research based on purpose

1. Basic research - also known as pure research, is an original investigation into the
reasons behind a process, phenomenon or particular event. It focuses on generating
and expanding the fundamental knowledge about social world. It has no practical
value or has little direct impact on action, performance or policy decision. The main
motivation is to expand man’s knowledge which deals with the process of objects and
things but not to create or invent something. Example of these research are studies
about relationships, comparative analyses, trends and projections.

2. Applied Research - variously known as action research, operations research, social

research, decision-linked research, is a kind of research that covers a wide range of
social science areas. This research refers to scientific study and research that seeks to
solve practical problems. The problem solving nature of the applied research means it
is conducted to reveal answers to specific questions related to action, performance or
policy needs. Example of this research may investigate ways to, Improve agricultural
crop production, treat or cure a specific disease, Improve the energy efficiency of
homes, offices, or modes of transportation.

3. Empirical Research - is defined as any study whose conclusions are exclusively

derived from concrete, verifiable evidence. These research are more specific than
basic research, but imply their nature from the use of data, whether quantitative or
qualitative. Empirical research typically seeks to find a general story or explanation,
one that applies to various cases and across time. It functions to create new
knowledge about the way the world actually works. 
Classification of Research based on method

1. Historical Research - which utilizes historical sources like documents, remains, etc.
to study events or ideas of the past, including the philosophy of persons and groups at
any remote point of time. The purpose of historical research is to arrive at conclusions
concerning trends, causes or effects of past occurrences. This may help in explaining
present events and anticipating future events.

2. Descriptive research - expands knowledge of a research problem or phenomenon

by describing it according to its characteristics and population. Descriptive research
focuses on the ‘how’ and ‘what’, but not on the ‘why’. Descriptive research takes up
the bulk of surveying and is considered conclusive in nature due to its quantitative
nature. Unlike exploratory research, descriptive research is structured in design so the
information collected can be statistically inferred on a population. This allows you to
measure the significance of your results on the overall population you are studying, as
well as the changes of your respondent’s opinions, attitudes, and behaviors over time.

3. Correlational Research - most likely type of research to answer the relationship

among variables or events is called correlational research. It aims at determining the
degree of relationship between two or more quantifiable variables. Secondly, the
relationship thus determined could be used for making predictions. A high value of
relationship, however, does not signify a cause and effect relationship which must be
verified through experimental study. This research is often conducted to test the
reliability and predictive validity of instruments used for division making concerning
selection of individuals for the likely success in a course of study or a specific job.
Some authors consider this research as a type of descriptive research, since it
describes the current conditions in a situation.

4. Causal research - is quantitative in nature as well as structured in design. For this

reason, it is also considered conclusive research. Causal research differs in its attempt
to explain the cause and effect relationship between variables. This is opposed to the
observational style of descriptive research, because it attempts to solve whether a
relationship is causal through experimentation. Causal research have two objectives
which are to understand which variables are the cause and which variables are the
effect and to determine the nature of the relationship between the causal variables and
the effect to be predicted. These research deals with the ‘why’ of research questions
and is therefore often based on experiments.

5. Experimental research - is where participants are assigned to groups based on some

selected criterion often called treatment variable. The primary characteristic of
experimental research is manipulation of at least one variables and control over the
other relevant variables so as to measure its effect on one or more dependent
variables. The variable (s) which is manipulated is also called an independent
variable, a treatment, an experimental variables or the cause. Some of the examples of
independent variables could be: temperature, pressure, chemical concentration, type
of material and conductivity. Experimental research will always have two or more
groups for comparison on the dependent variables. It is the only type of research
which can establish truly the cause and effect relations.
References:

https://www.pdr-cpa.com/knowledge-center/blog/role-of-accounting-in-
business#:~:text=Accounting%20plays%20a%20vital%20role,used%20in%20making
%20business%20decisions.

BusinessDictionary.com. (2021). Retrieved on September 25, 2014 from

http://www.businessdictionary.com/definition/research.html.

https://www.discoverphds.com/blog/what-is-research-purpose-of-research

Chun, B. M (2017). Module in Research Project.

Adanza et al. (2009). Methods of Research Primer (1st ed.). Rex Book Store, INC.
(RBSI)

Leedy, P. D., & Ormrod, J. E. (2013). Practical research: Planning and

design   (10th ed.). Boston: Pearson.

Kabir, Syed Muhammad. (2016). Basic Guidelines for Research: An Introductory

Approach for All Disciplines (1st ed.). Book Zone Publication. Chittagong-4203