The project in five facts.
Challenge, approach and results.
The diploma thesis examines the key factors that influence companies' decisions between internal and external provision of accounting services (outsourcing) and the impact of modern digitalisation and cloud technologies on the organisation of the accounting function. Accounting represents the fundamental information system of every organisation, as it provides reliable and timely data for business decision-making and compliance with legal obligations. The empirical part of the research is based on qualitative methodology (semi-structured interviews), conducted among five professionals from the field of accounting and management from companies of different sizes (two larger, one medium-sized and two smaller). The results also confirm that the digitalisation of accounting processes and the introduction of cloud accounting significantly reduce the volume of manual data entry, shorten task processing time and increase productivity and business accuracy.
Problem
The diploma thesis examines the key factors that influence companies' decisions between internal and external provision of accounting services (outsourcing) and the impact of modern digitalisation and cloud technologies on the organisation of the accounting function. Accounting represents the fundamental information system of every organisation, as it provides reliable and timely data for business decision-making and compliance with legal obligations. The theoretical part of the thesis presents in detail the characteristics, advantages and disadvantages of internal and external accounting, the structure of fundamental accounting statements (balance sheet, income statement, cash flow statement, statement of changes in equity and notes) and the cost aspects of both models.
Solution and Method
The empirical part of the research is based on qualitative methodology (semi-structured interviews), conducted among five professionals from the field of accounting and management from companies of different sizes (two larger, one medium-sized and two smaller). The collected data are analysed using the qualitative coding method. The research finds that larger companies, due to the complexity of their operations, higher volume of daily transactions and the need for constant data availability and greater control, primarily opt for internal accounting.
On the other hand, smaller companies more frequently choose external accounting services, as this enables them cost flexibility, reduction of fixed employment costs and direct access to a wider range of specialist knowledge.
Results
The results also confirm that the digitalisation of accounting processes and the introduction of cloud accounting significantly reduce the volume of manual data entry, shorten task processing time and increase productivity and business accuracy. Modern cloud solutions enable secure and uninterrupted access to data in real time, which changes traditional forms of work organisation and encourages hybrid models of collaboration between internal departments and external providers. Digital technology has radically changed the role of accountants, namely from traditional data entry clerks to strategic business advisers.
Digitalisation has also enabled continuous data exchange and reduced the need for the physical presence of accounting in the company. In the future, successful companies will be those that are able to appropriately align the size of their operations with the appropriate model of accounting organisation.
Module, programme and stories.
Your diploma project for a real company.
A diploma thesis at Academia solves a challenge from a company – often the one where you do your 800 hours of placement. Read about the Računovodstvo module or book a consultation.