The Impact of Digital Technology on Tesco

One of the biggest applications is the enhancement of business intelligence through the use of social technologies and data analytics. Digital technology like business intelligence system assist finance manager in monitoring the revenue earned by firm during specific financial year. It also provides finance manager an ease in making comparison between past and present performance of company. Utilisation of digital technology has impact on the actions of investors and others is pretty evident. Digital technology also provide manager an ease in making suitable investment and other Financial decision. It also supports an organisation in improving financial performance. Digital technology is proved beneficial as well as well as useful for those big organisation who have large turnover and facilitates many business transaction on daily basis. It has supported an enterprise in increasing the business efficiency as well as effectiveness of accounting system.

The purpose of the research is to analyse the impact of digital technology on the accoutring activity in an organisation - A case scenario of Tesco organisation.

TASK 1

P 1 Aims and objectives of an investigation procedure

Aim- To analyse the impact of digitalisation on the accounting activity within an enterprise- A case study of Tesco organisation.

Objectives -

• To analyse the effect of emergence of digital technology on the accounting system of Tesco company.
• To develop the understanding about the accounting system and digitalisation.
• To explore the way digital technology has assisted business entity in bringing improvement in accounting system.
• To identify the benefits of utilising the digital or business intelligence system in accounting .
• To increase sales by 10 percent within 6 months.
• To reduce the costs or other expenses by 5 percent within 3 months.
• To recommend the strategies which can be used by Tesco company for increasing the effectiveness of accounting system.

P 2 Project management plan

The project management plan consists of detail information about the several activities which will executed by researcher during the investigation procedure. The purpose of developing the Project management is to execute research activity in smooth manner. Project management plan is considered to be as an effective plan which assist scholar in identifying the obstacles which might occur in facilitating or conducting the investigation process. It also helps researcher in analysing the risk which are associated with executing the survey on specific topic. The project management plan also includes the detail information about the communication techniques or methods which will be used by scholar for interacting with other people during the procedure (Eagleman, 2013). It also covers the strategies or techniques which will be implemented by researcher for maintain the quality of work. Project management also involves Time schedule according to which all the tasks will be executed during the survey. It helps researcher in eliminating the barriers. Project management also supports the researcher in development of effective tactics as well as strategies which can be used by scholar for managing risk or dealing with uncertain situation during the investigation process. It also enables Researcher to ensure successful completion of research project.

Costs:

The expenses are directly associated with the executing the several activities during the survey. The major cost is generally associated with making arrangement for facilitating interview for collecting the information from the respondents. The changes in the economic factors has great influence on the cost factor in project management plan. In context of the investigation process , cost might be incurred in designing of the procedure or system which might not be effective. Some expenses might be fixed , variable or directly associated with the implementation of research project. Direct cost involves material , labour , stationery , printing , collection of information etc. Indirect costs includes salary or wages to the person hired for collecting data or facilitating interview, quality control costs , insurance etc. The effectiveness of investigation procedure can be measured in terms of the total costs incurred by scholar in order to complete research project.

Considering the cost in project management plan is important, as it assist investigator in determining the expenses and helps scholar in making the arrangement for financial resources. Determination of costs when preparing the project plan assist researcher in designing the suitable strategies for controlling the Expenditures. In present investigation , investigator has prepared budget for each activity and procedure. The cost of research project is calculated and described as the full economic expenditure.

Quality:

It is very much essential for the researcher to select the appropriate design for facilitating investigation. As the quality of work is totally based on the research design. Managing or concentrating on the quality of research is very much crucial in terms of ensuring the desired results. There are mainly two criteria are generally used for measuring the quality of research project. These are theoretical and methodological robustness as well as effect of the research project on users. Good quality work will help scholar in establishing the positive impression on user. It is very much important for researcher to clearly defined the aims and objectives of investigation process. Quality in research work helps user in developing the confidence in findings or conclusion drawn by scholar. It is very much important for investigator to select the appropriate m ethologies , approaches , techniques during investigation procedure. As this will assist researcher in maintaining the quality in work.

In the present investigation , researcher have utilised some modern techniques as well as have taken support of advance technology for maintaining the quality of work.

Time:

It is considered to be as important element in project management plan. Scholar should set time schedule for each and every task. As this strategy will assist investigator in completing the research project on time. In present study, investigator has formulated the time management strategy. Time allotment should be done on the basis of nature of the task.

Scope:

It includes the detail about all those action or activities which will be implemented by researcher during the investigation process. Scope of the project also covers the aims , objectives , detail about deliverables, information about activities etc. It also involves the information about deadlines on which specific process or activity is required to be completed. As the present investigation is on topic analysing the impact of digitalisation on the accounting system in Tesco organisation, Research has limited scope. There are only specific researcher activities such as collection of data, analysis, interpretation , presentation and printing of information will be dine by researcher.

Resources:

There are need of different tapers of resources for executing each and every activity during survey. It is very much important for investigator to determine the requirement of resources when developing a project management plan. As this will assist researcher in eliminating the barriers in execution of investigation. Determination of resources or material at planning stage will support scholar in designing the task. Lack of resources can create big barriers in the implementation of plans.

The various types of resources required for facilitating research are technology , communication devices , human resource , stationery and other material.

Risk:

It includes the risks to participants are reasonable in relation to the potential benefits to participants and to society. Risk can be refers to as the probability of harm. There might be chances of risk to participants such as physical and psychological harm. It is very much necessary for scholar to determine the probability of occurrence of different type of risk. As this activity will assist scholar in eliminating the legal issues or obligations. The chances of different types of harm physical, psychological, social, legal, or economic might occur as a result of participating in investigation process. Risk factor has direct as well as significant influence on the completion time of research .

In context of present study , the major risk is of Human error which is directly linked with accumulation of information or facts from respondent.

Communication:

The different electronic devices as well as techniques can be utilised for facilitation the communicability. As effective as well as continuous interaction between the people associated with research project is very important in order to complete investigation process in effective , efficient and organised manner. Smooth as well as uninterrupted flow of information is crucial in terms of preventing the overlapping of activities (Zumitzavan and Michie, 2015). It is also significant for avoiding the wastage of resources during survey. Choose the best assignment help in Malaysia? Buy an online writing service to score top grades at an affordable budget.

You can also read: Sustainable strategy

P 3 Gantt chart and work break down structure

Gantt chart is that represents the different activities which are to be executed during the specific time period. It also indicates the time duration of each task. Gantt chart is also recognised to be as effective tool or techniques which can be used by an individual for making the plans for different types of projects. It consists of starting as well as ending time of each activity.

Work breakdown structure is defined as the system re-engineering which is created specifically by project manager for managing as well as controlling the diffrent activities during research procedures. It is mainly a grouping of task in small parts. Work breakdown structure is considered to be as an effective technique which is used by project manager in order to minimise the work burden and make the task look simpler.

P 4 Methods to be utilised in investigation

It is very much important for scholar to select the appropriate techniques , approaches for facilitating the investigation. As the methodologies utilised during the survey has direct influence on the quality of work. Selection of approaches and techniques also have significant influence on the outcome of investigation procedure. Research methodologies as well as approaches assist investigator in completing the research project in systematic manner. It also enables researcher to reach some specific conclusion and support investigator in making suitable decision (Özerdem and Bowd, 2016.). Some approaches, concepts , philosophies, techniques , design , methods used by the scholar in present study are :

Research design:

It is refers to as the plan or strategy designed as well as implemented by researcher in order to complete the investigation process on time. Research design is selected by researcher on the basis of nature of problem as well as type of investigation. In present investigation, different techniques has been utilised by scholar for completing the research procedure on time. It is very much important for researcher to select appropriate design for facilitating survey (Bulgurcu, Cavusoglu and Benbasat, 2010). As design used in investigation process has direct as well as major influence on the quality of work. There are some research design which can be utilised by researcher for executing research activity are descriptive, experimental, explortaory and explanatory. In present study consiudering the nature of issue as well as type of research , scholar have used explanatory design. This specific design has been seleced, as it has herlped scholar in new things as well as facts in earlier studies on similar topics (Borghoff and Pareschi, eds., 2013). The another reson is that explanatory design has been chosen by scholar on the basis of assumption that it will help in analyisng the relation between the cause nad effect of implementibng the digitla technology in accpounting department. Rese4arch design also involvesintersection of philosophy. It allows researcher to nnalyse the techniques or to develop the innovative ideas through which investigation can be complete in systematic manner.

Research approach:

There are mainly three types of investigation approaches these are quantitative, qualitative and mixed. Researcher approaches can be applied by the scholar in different task or activities such as during the time of collection of information , interpretation , analysis and presentation of data (Miller and et. al., 2012). In present study on topic analysing the impact of digitalisation on accounting system , researcher will use mixed approaches. This investigation approach integrates both quantitative and qualitative form. Mixed approaches assist increasing the strength of research.

Investigation philosophy:

This factor has direct as well as major influence on the way the various activities are to be executed. It is very much important for scholar to develop the understanding about the views or opinion of other people on the topic Investigation philosophy assist researcher in making suitable decision (Weil, Schipper and Francis, 2013). It also helps researcher in addressing the issue and analysing the effective solution for the same.

Sampling technique:

A sampledesignis the model, or blue print, which serves as the foundation for the selection of a survey sampleand affects many other important aspects of research as well. Sampling includes the rules as well as regulation which are required to be followed by scholar for selecting the sample of respondents from the wide population. There are varieties of sampling techniques which can be utilised by scholar for selecting the participants are sample random, cluster, systematic, stratified etc. In present investigation, researcher will use random sampling techniques (Messner,2016). As in this type of sampling technique each and every participant has equal chance of selection. Random sampling also supports investigator in eliminating the biasses.

In present study 20 respondent has been selected by investigator through random sampling technique.

Sources as well as Methods used for data collection:

The data collection is recognised to be as the important activity in investigation procedure. It allows investigator to get the answers to various of questions. The facts of information accumulated from the primary or secondary sources helps investigator in reaching to the conclusion and assist researcher in making suitable decision. In present investigation, researcher will have utilised both primary as well as secondary sources for gathering the facts or information. In addition to this the various techniques which has been utilised by investigator for gathering data are interview and questionnaire (Otley and Emmanuel, 2013). In questionnaire form, researcher have included close ended question. Personal distribution has been selected as the technique or method for distributing questionnaire. In addition to this E-mail has been used for circulating or sending questionnaire to respondents. E-Mail has been utilised as the devices or distribution questionnaire in order to provide participants an ease or convenience in filling questionnaire form.

Techniques utilised for analyzing information:

data analysis includes the refining of information. This is done to ensure the effectiveness of data or reliableness of information gathered during the investigating procedure (Ismail and King,2014). The two methodologies or techniques which can be utilised for analysing the data are qualitative as well as quantitative. In present study, researcher have used qualitative data analysis technique.

Ques 1 What type of technology Tesco company is presently using for recording as well as managing business transactions?.

• Information system
• Advance accounting software
• Traditional accounting technology
• ERP

Ques 2 How much agree you are with the statement that Utilising the digital technology can bring improvement in accounting system ?

• Completely agree
• Partly agree
• Not agree

Ques 3. What are the Benefits or advantages of implementing digital technology in accounting department?

• Increase office productivity.
• Improved accounting management practices.
• enhanced the agility of the financial Information .
• Reduce in the cost of maintaining records

Ques 4. Do you agree with the statement that the employment of digital technology has helped business entity in improving accounting procedures ?

• Yes
• No
• Don't Know

Ques 4. What Type of Impact digitalisation have on the accounting system within an enterprise?

• Positive
• Negative
• Both.

Ques 5 How much aware your are about the advance accounting software ?

• Little aware
• No knowledge
• Completely aware

Ques 6 What is use of digital technology in accounting department?

• It can be utilised for preparing the financial report.
• Recording of routine business transaction.
• For tracking the business transactions.
• For recoding as well as maintaining data related to sales

Ques 7 . What is the most effective application which can be utilised for accounting work?

• Business intelligence system
• Cloud computing
• Information system
• None of the above

Ques 8 . How much important for Tesco company to implement digital technology in accounting department?

• Very much important
• less important
• Not important.

Ques 9. Why it is necessary for company to implement digital technology for accounting work?

• It assists in reliable financial information which is crucial for decision making.
• It is the way through which the financial information can be gathered and stored.
• None of the above

Ques 10. What is the purpose of accounting information system?

• To confirm data financial information which is entered is valid and reliable.
• To maintain relevancy and efficiency of financial information.
• To maker accounting procedure simple.

P5. Analysis of information

Theme 1:Traditional accounting technology, Tesco company is presently using for recording as well as managing business transaction.

Finding and analysis

It has been identified that Tesco organisation is presently utilising the traditional technology for recording as well as managing business transaction. This the main reason that an organisation is facing difficfulty nin managing cash flow. Out of 20 respondent 2 have sttated that business entity is presently utilising information system and ERP as accounting softwares.

Theme 2 : Respondents are Completely agreed the statement that Utilising the digital technology can bring improvement in accounting system.

Finding and analysis:

From the above information that out of 20 respondents have shown their agreement with the statement that use of digital technology can bring improvement in accounting system. Out of 20 responsdents 4 have shown their disagreement with the statement they do not perceive that digitalisation can bring improvement in accounting system.

Theme 3:Increase office productivity, are the Benefits or advantages of implementing digital technology in accounting department.

Interpretation:

When this specific question has been asked to the respondents , many of the participants has stated that Increase office productivity is the Benefits or advantages of implementing digital technology in accounting department. Thewre are three participants out of 20 who have stated that enhanced the agility of the financial Information is considered to be as the major advantage of employing digital technology at workplace.

Theme 4: Majority of respondent have stated yes that the employment of digital technology has helped business entity in improving accounting procedures.

Finding and analysis

It has been analysed from the above information that out of 20 majorities of the respondent has shown their agreement with the fact that digital technology has helped business entity in improving accounting procedures. There are three respondent thoise who are not agree with the fact.

Theme 5:Little awareness, respondents have about the advance accounting software.

Interpretation:

From the above information or data, it has been interpreted that out of 20 majorities that is 12 respondent have little awareness about the advance accounting software. There are only three respondent who are completely aware about advance accpounting software.

Theme 6:It can be utilised for preparing as well as maintaining the financial report.

Finding and analysis

majority of participants has stated that digital technology in accounting department can be utilised for preparing the financial report.In addition to this few participants has stated that digital technology can ber used for tracking the business transactions.

Theme 7 :Business intelligence system, is considered to be as an most effective application which can be utilised for accounting work.

Finding and analysis

It has been analysed from the suggestion given by many of the respondents that business intelligence system is the most effective application which can be utilised for accounting work.

Theme 8:Very much important, for Tesco company to implement digital technology in accounting department.

Interpretation

Majority of the respondent have stated that it is very much important for Tesco company to implement digital technology in accounting department. There are five respondent who have styated that it is less important gor an enterprise to implement digital technology.

Theme 9:It assists in reliable financial information which is crucial for decision making, this is the reason Tesco company is required to implement digital technology for accounting workplace.

Finding and analysis

It has been analysed from the above information that it is necessary for company to implement digital technology for accounting work because digital technology assists in reliable financial information which is crucial for decision making.

Theme 10:To make accounting procedure simple, is the purpose of accounting information system.

Finding and analysis

It has been analysed from the above information that objective of accounting information system is to make accounting procedure simple.

P 6 Communicating appropriate reccommendations

It has been concluded from the assignment that digital technology when implement in the accounting sytem can bring drastic improvement in accountring practices.Tesco company has been provided with suggestion to implement busimness intelligencve system in accounrting department. It is required by Tesco to make investment in implementing or installing the advance accounting softwares. As this investment strategy will assit an organisation in increasing the working effeciency in accounting work.In addition to this business entity can implement information sytem , which will support or help finance manager in accumulating all financial information. We also provide Finance Assignment Help Online UK to students who are getting tired of writing their finance assignment.

It has been required by the manager in an enterprise to develop effective accountinbg sytem or to formulate the strtaeguies for bringing the improvement in same. As this plan of action will assist form in controling the cash fow and monitoring the cash trnsaction.

It has been adviced to finance manager in Tesco organisation to keep themselves update about the latest accounting softwares as well as technology which can be utilised for accounting work.As this strategy will assist an enterprise in increasing the office productivity.

P7 Reflection

I have learned many new things about use and impact of digital technology on accounting system in an organisation.I have analysed that implementatrion of digital technology can bring drastic improvement in accounting practices. I have gained knowledge about the several techniques which I believe will be helpful for me in conducting the further research activities in the future.I have also developed various skills as well as core competencies which I perceive thta will support or help me in my personal as well as professional development.I have improvemernt my abilities such as analystical as well as presentation abilities. I have also realised that thgere are some skills are still required to be acquired by me in ordwer to become perferct scholar. I also think that I can also use digital technology for computing the cost which has been inncuured sduring the research activities. I have develop understanding about the way digital technology has assisted Tesco organisation in improving finacial performance. I have also ananlysed thta digital technology has asisted tEsco organisation a lot in controlling the business trnsactions as well as c

UPTO56%

Avail The Benefit Today!

To View this & another 50000+ free

Enter Email

Submit