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INSTRUCTIONS - COUNTRY AUSTRALIA

Proposition 1: Changes in accounting practices as a result of the adoption of new technologies increases the role of accounting as a mechanism of institutionalization in the organization. Accounting practices and systems are considered as mechanisms that portray a picture of economic and organizational reality (Chua, 1986; Hunt and Hogler, 1993). Tilling (2004) suggests that the religious use of accounting rules provides organizational decision-makers with relevant and reliable information that enable them to select the optimal strategy to achieve organizational goals. Meyer and Rowan (1977) argue that accounting can be considered as a part of organizational formal structures in bureaucracies that function as myths. They expand on this idea by further arguing that organizations use their accounting systems to signify responsibility and avoid claims of negligence. The authors posit that accounting provides legitimacy to organizations and enables organizations to be projected as rational and modern entities. Meyer and Rowan (1977) suggest that the adoption of accounting systems and standards provides organizations with a defense against the perception of irrationality and can lead to enhanced moral and nancial support from external resource providers. Becker and Neuheuser (1975) claim that the use of accounting in the organization offers patterns of organizational visibility to it. Thus, accounting structures and systems such as recording, summarizing, preparation of nancial statements budgeting, internal controls, taxation provide a tool to signal the legitimacy of organizations to the environment. Thus, though organizations may adopt accounting systems for functional reasons, from a legitimacy theory perspective, adoption of accounting system offers legitimacy to the organization. In the wake of changing roles of accounting from the traditional roles to reect changes in technology (Hunton, 2002; Wallman, 1997), will accounting still inction as a tool providing legitimacy to organizations? Dowling and Pfeffer (1975) consider legitimacy as emanating from the desire of an organization to seek to show similarity between the organization's associated social values. This is implied by their activities and what is deemed as the norms of acceptable behavior in the larger social system in which the organization is a part of. Flowing from this assertion, changes to accounting systems from the traditional role of financial reporting to critical decision making (Hunton, 2002), when adopted by a number of organizations in the environment, eventually becomes what is deemed acceptable and legitimate. Hence, over time, changes in accounting processes as a result of changes in information technology offer legitimacy to the organizations that adopt such changes. Suchman (1995) argues that legitimacy can be construed as an operational resource that the organization utilizes within a competitive environment to pursue organizational goals. Thus, within a competitive environment, an organization that adopts changes in accounting from the traditional role due to technology, be it disruptive technology or creative technology, could use that as a tool to gain competitive advantage. This is because, over time, the changes in accounting practices and systems resulting from technology becomes the dominant practice and what is deemed acceptable in the society. As such, organizations that adopt the changes in accounting are deemed to be legitimate thereby providing a competitive advantage over those that do not adopt changes. Flowing from these arguments, we propose that: - Proposition 2: Over time, changes in accounting practices as a result of the adoption ofnew technologies increases the legitimacy of organizations According to Granlund (2011), information technology innovations are usually implemented with the aim to improve task efciency and increase functional and organizational level performance. Jordan (1999) suggests that technology achieves this goal by providing tools that help to increase the efciency of business functions including accounting in organizations. This is because technology is identied as helping organizations to identify problems and opportunities quickly and accurately (Huber, 1990). Huber (1990) argues that technology results in an increase in availability of relevant and timely information. This, in turn, enhances the speed and quality of decision-making in organizations. Given the aim of accounting to provide information that enhances informed decision, changes in accounting systems due to technology will result in improved decision-making and improve on rm performance. Miller and Power (2013) indicate that the power of accounting is now inuenced and has become a joint function of technology. Thus, change in accounting systems in the organization can be explained as resulting from changes in technology. In an era of \"now economy\" that requires information in real time, Vasarhelyi and Alles (2008) indicate that there is the need for real-time accounting in the organization. It is believed that such real-time reporting will provide timely, relevant and reliable information that aids management in making an informed decision in each moment (Belfo et al., 2015). The ability of management to make informed decisions helps to improve on rm performance in the long run. Belfo et al. (2015) claim that real-time nancial reporting can be achieved with the aid of computer systems. As such, with changes in accounting, resulting from changes in technology, we offer the following proposition: Proposition 3: Changes in accounting practices as a result of the adoption of new technologies increasesrm performance. Beyond the individual rm level, changes to accounting practices as a result of new technologies are changing the eld of accounting itself. Again, according to Hunton (2002) information technology has changed the role of accounting units from simply recording and preparing nancial statements to higher- order critical thinking skills such as developing e-business models, providing independent assurance, and integrating strategic knowledge. Similarly, Fisher (1997) posits that technology has advanced the role of the accountant in the organization from what he describes as \"spectator to an active player in the management process.\" This is achieved through the use of information technology to record, summarize, process and prepare nancial statements. Such usage frees up time and energy for the accountant to focus on management decision making aimed at proactively identifying issues that may arise in the future and working to prevent these potential issues from becoming problems. Scott and Davis (2007) suggest that technology has taken over functions that were hitherto performed by analysts, accountants, and clerks in terms of information processing capacity. As explained earlier, information technologies are changing accounting practices. Jordan (1999) cites the ledger account as one example of accounting practices that have been rendered obsolete in the face of new technology. This is because computers are now used as the primary tool to record the information that the ledger account was used to record. This indicates that data accounting practices such as data capturing tasks seem to have been taken over by technology (Hunton, 2002). Burns and Vaivio (2001) suggest that technology drives these routine accounting tasks into out-sourced positions in many organizations. Based on this assertion, and what constitutes institutionalization and legitimacy, one can argue that information technology provides a medium through which accounting practices are institutionalized within the organization as well as provide legitimacy to the organization. However, these processes have implications beyond individual rms; they affect accounting itself. Organizations and their top managers must remain cognizant of these changes and know when to adopt technologies which change their accounting practices as those changes are being legitimized. We propose the nal proposition: Proposition 4: Changes in accounting practices as a result of the adoption of new technologies are being constantly institutionalized which requires changes to theeld of accounting itself 1. Research and briefly explain Institutional Theory and Legitimacy Theory of Accounting? 2. Evaluate and assess adoption of Information Technology in Accounting through Institutional Theory and Legitimacy Theory perspective of Accounting. Use examples to illustrate how accounting systems are institutionalised within organisations and provide external legitimacy. 3. Critically evaluate the propositions made by the authors. Do you agree or disagree with the 4 propositions in the article? Explain your point of view and provide evidence from other academic resources. 4. Comment on any strengths and weaknesses of the article