Unit- 5 – Methods of Data Collection

1
Research Methods in Accounting and
2
Finance
Research Methods in Accounting and
3
Finance
 I. Secondary sources of data
• Secondary data means data that
are already available i.e., they
refer to the data which have
already been collected and
analyzed by some one else.
4
 Cont.
Evaluating Secondary Data
• Since the use of secondary data is
relatively cheaper than that of primary
data, it is advisable to explore the
possibility of using secondary data. In
this connection there following
requirements must be met. These are:
5
 Cont’d…
• Availability of Secondary Data: The first and
foremost requirement is that secondary data
must be available for use. At times, one may
find that secondary data are just not available
on a problem at hand. In such cases, there is
no alternative but to take resources to the
collection of primary data.
6
 Cont.
➢Relevance/suitability of the data: Another
precondition for the use of secondary data is their
relevance to the problem at hand.
➢Relevance means that the data available must fit
the requirements of the problem.
➢This would cover several aspects:
– Unit of measurement should be the same as that in
the problem at hand.
– The concepts used should be the same as are
envisaged in the problem.
– The data should not be obsolete.
7
 Cont’d…
➢Reliability of the data: The reliability can be
tested by finding out such things about the
said data:
– Who collected the data
– What were the sources of the data
– Were they collected by using proper method
– At what time were they collected
– Was there any bias of the compiler
– What level of accuracy was desired? Was it
achieved?
8
 Cont.
➢ Accuracy: The other requirement is that the data
should be accurate. In this connection the
researcher should consult the original source.
This would not only enable one to get more
comprehensive information but would also
indicate the context in which data have been
collected, the procedure followed and the extent
of care exercised in their collection.
➢ Sufficiency: The data should be sufficient. If the
data are inadequate, then compliance with the
preceding requirements will be vain.
9
 II. Primary sources of data
• Primary data are original observations
collected by the researcher or his agents for
the first time for any investigation and used by
them in the statistical analysis.

• Primary data are those data which are

collected as fresh and for the first time, and
thus happen to be original in character.
10
 Cont.
Methods of Primary Data Collection
• There are several methods of collecting primary
data, particularly in surveys and descriptive
researches. Important ones are:

✓Observation method

✓Questionnaires

✓Interview method

✓Focus group discussions 11

Research Methods in Accounting and
12
Finance
Research Methods in Accounting and
13
Finance
Research Methods in Accounting and
14
Finance
Research Methods in Accounting and
15
Finance
Research Methods in Accounting and
16
Finance
Research Methods in Accounting and
17
Finance
Research Methods in Accounting and
18
Finance
Research Methods in Accounting and
19
Finance
Research Methods in Accounting and
20
Finance
Research Methods in Accounting and
21
Finance
Research Methods in Accounting and
22
Finance
Research Methods in Accounting and
23
Finance
Research Methods in Accounting and
24
Finance
Research Methods in Accounting and
25
Finance
Research Methods in Accounting and
26
Finance
Research Methods in Accounting and
27
Finance
Research Methods in Accounting and
28
Finance
Research Methods in Accounting and
29
Finance
Research Methods in Accounting and
30
Finance
Research Methods in Accounting and
31
Finance
Research Methods in Accounting and
32
Finance
Research Methods in Accounting and
33
Finance
Research Methods in Accounting and
34
Finance
Research Methods in Accounting and
35
Finance
Research Methods in Accounting and
36
Finance
Research Methods in Accounting and
37
Finance
Research Methods in Accounting and
38
Finance
Research Methods in Accounting and
39
Finance
Research Methods in Accounting and
40
Finance
Research Methods in Accounting and
41
Finance
Research Methods in Accounting and
42
Finance
Research Methods in Accounting and
43
Finance
Research Methods in Accounting and
44
Finance
Research Methods in Accounting and
45
Finance
Research Methods in Accounting and
46
Finance
Research Methods in Accounting and
47
Finance
Research Methods in Accounting and
48
Finance
Research Methods in Accounting and
49
Finance
Research Methods in Accounting and
50
Finance
Research Methods in Accounting and
51
Finance
Research Methods in Accounting and
52
Finance
Research Methods in Accounting and
53
Finance
Research Methods in Accounting and
54
Finance
Research Methods in Accounting and
55
Finance
Research Methods in Accounting and
56
Finance
Research Methods in Accounting and
57
Finance
Research Methods in Accounting and
58
Finance
Research Methods in Accounting and
59
Finance
Research Methods in Accounting and
60
Finance
Research Methods in Accounting and
61
Finance