Accounting is recording financial transactions in an organization. It deals with summarizing, analyzing, and making the report of financial transactions and submitting it to various relevant agencies and tax collection authorities. These financial statements are the complete record of all the financial transactions in a company. It tells the company’s operations and position and the process of cash flow in the organization.
Primary roles of an accountant
Accounting is having a pivotal function in any business. Whether a business is small or large, there is a need for a person who can handle accounts of the company. Here the role of chartered accountant comes into play. The work of an accountant is creating the financial records and checking them to avoid any monetary loss to the company. Auditors and accountants work on the financial records of a firm and help them to run efficiently without hindrances.
A job to carry out by accountants:
- Checking the accounts statements of the company and ensuring the accuracy in them.
- Accounts look after the company statements and records. They warrant whether statements and records obey the laws and regulations of the country or not.
- They work on tax policies, prepare payment sheets and tax return sheets for the business.
- Accounts check all the account books and accounting systems to see the cash flow.
- Maintain proper financial records of the company.
- Provide ideas to management to improve the company’s economic flow.
- They help the company by reducing the costs, open up the ways to generate revenue and profit to the company.
Major problems accountants face in their job
Accounting serves substantial benefits to those who want to make a career in this field. It brings highly paid jobs. But there are certain challenges accountants face.
Repetitive work creates monotony in life.
If you are a part of a bigger organization, you might have a handsome salary package but may have a tiring job. In big companies, you have a certain role to play for a good time period and then only you can move up in a different role.
Accountants have to work more than the designated hours during the financial year. During this time they have to make tax reports and work on various events. Such a period can be a challenge for accountants as they have to work for more than 70 hours a week.
Accountants are having good intelligence, knowledge and focus. Thus, it brings competition in their field. For those who are starting their career have to work harder to take a position in this field.
Working under pressure
There are times when you have a lot of pressure. Any mistake in the figures leads to a big loss for the company. Therefore, an accountant has to work under tremendous pressure and keep himself/herself updated throughout the job.
One has to adhere to deadlines
When you are an accountant, you cannot negotiate with deadlines. You cannot delay the task or else, the company has to pay the heavy price for it. So, if you are a person who believes in procrastination, this career is not suitable for you.
List of accounting research topics in different areas of accounting
Finding good accounting research material is quite tough. There are various online academic websites such as Khan Academy that will guide you will accounting dissertation by providing research material on it. If you are struggling with topics, then below I have provided various topics. Take help from them.
Managerial accounting research topics
- Project accounting and risk analysis – Ways to identify and quantify the risk.
- Discuss the du Pont analysis as a method used for improving the performance of an organization.
- Concept of strategic management accounting and how it can be beneficial for the hotel industry.
- Discuss the competitive advantages of project accounting segments.
- Discuss how activity-based costing can help a firm by adding value to a project.
- An elaborative study on Ivy publishing – discuss the role of strategic management in the field of publishing.
- Discussion on strategic management and its significance within enterprises.
- What can be the possible ways to help the entrepreneur to accomplish productivity with the help of cost accounting methods.
- How cost accounting act as a managerial tool to help the inflow of material in manufacturing industries.
- A methodical review of cost accounting in heritage centres all over the world.
- Discuss the influence of cost of goods generated on pricing in the process of strategic decision making.
- What are the challenges of administering cost accounting in the oil and gas industries?
- Discuss the challenges thrown upon companies accessing and correctly managing the risk.
- What are the measures banks take to reduce and manage the risks? Discuss by taking the example of a bank different banks.
- An elaborative study of risk management in the defence sector in the US.
- Define country risk. Evaluate and analyse the concept of country risk in management literature.
- Literature review on managing the risk in the countries having unstable economic conditions.
- What is the significance of account management with reference to healthcare industries?
- Discuss the concept of key account management in the banking sectors.
- How key account management can play a vital role.in the reformation of the Russian mining industry.
- Broad research on the theoretical model of mental accounting.
- Discuss the determinants of the progress of accounting and financial reporting.
- How to verify the yearly depreciation of an asset?
- Distinguish between marginal costing and differential costing.
- How can you use qualitative and quantitative methods of research in cost accounting?
- Discuss the fundamental dynamics of corporate governance.
- Define the role of time in the process of cash flow.
- How the internet has played a significant role in the life of an accountant?
- What is earning management – Discuss the significance of earning management?
- What is depth management? Discuss the ideas that can reduce the growth of debt.
- What is accounting information? How accountants can make the correct decisions for the organization?
- Discuss the ways through which an organization cut of the taxes.
Forensic accounting research topics
- Discussion over the effective measures to reduce the financial frauds in an organization.
- Elaborate and discuss Goldman Sachs security fraud case. How it could be prevented. Different aspects of this case.
- What role do forensic accountants plays?
- What are the various methods to examine forensic accounting?
- Skills required to be a forensic accountant. How skills play an important role in a forensic accountant’s life.
Accounting theory research topics
- Discuss the historical development of different accounting theories in the last 40 years.
- Is there any impact of culture on accounting theories? Discuss the role of culture in formulating of accounting theory.
- How accounting theories play a substantial role in any type of business.
- What are the issues of positive and normative accounting theories? Discuss the differences between the two theories.
Some more accounting research topics
- A study over the performance of the stock exchange of Nigeria and how it helped in the economic development of Nigeria.
- Evaluate the importance of bookkeeping practices in small and medium scale industries and companies.
- What is audit independence? What are the effects of increasing accountability and transparency in the corporate sector?
- Discuss credit management and consequences of the bad debt in commercial banks.
- Study the impact of budgeting, and control on an organization. How it leads to profit in the manufacturing sector.
- The importance of source documents in a case study of Orji Chukwu and other chartered accountants for adult investigation.
- The issues faced in Nigerian Companies by external auditors (A case study of Akintolla Williams and Co. chartered accountants).
- Forensic accounting in the context of fraud detection and prevention (A case study of ETI OSA Local Government Council, Lagos State).
- The role played by auditors in keeping a check on fraud in establishments of government (A case study of state primary education board ENUGU).
- Implementation of an effective audit system in order to enhance corporate accountability ( A case study of Sheffield Risk Management Limited Oweri Imo State).
- Implementation of an accessment of effective audit and internal control in the public sector.
- Increasing rural development by using social auditing as a tool ( A case study of Exxon Mobile ket).
- Effect of tax audit and investigation on revenue generation in Nigeria.
- Reliability of financial reports and independence of auditors in the banking industry.
- Internal audit and its impact on detecting fraud and preventing it in future ( A case study of a Nigeria-based power holding company).
These are the topics on accounting subject. Students can take help from these topics to write a term paper or dissertation on accounting. To know more about accounting dissertation, read: how to write a decent accounting dissertation.
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