Armstrong, Anona, Heenetigala, Kumi, Clarke, Andrew, Clark, Colin, Francis, Ronald, Tatnall, Arthur and Dai, Wei (2010) The use of Internet reporting for small business and accountants. Project Report. Victoria University, Melbourne, Victoria.

Abstract

Operation of the business in the current environment is influenced by modern technology. Information technology (IT) has increased the speed and accuracy of distribution and communication of information at a lower cost than ever before. The internet has been the primary architecture of this communication revolution of the 21st century. Phoenix is a system that has been developed by the information technology team at VU to provide interactive on line monitoring and reporting of business activities using the internet technologies. Accountants could use such a system to link into small business activities and provide their services and expertise at the time it is required and before major problems develop. The purpose of this study is to identify and evaluate the benefits of internet reporting to accountants and small businesses. It is expected the information and communications technology (ICT) could play a major role in facilitating interactions between ccountants and small business, reducing the regulatory burdens of small business and improve their efficiency and effectiveness. This research builds on previous research grants, development of the ICT research program at Victoria University that produced the Phoenix Program, and a more recent ARC grant to investigate how to reduce the burden of regulation in small business. This project identified the role of accountants in this process. The study investigated how internet based reporting system can provide assistance to accountants servicing the small businesses sector, monitoring of their business performance and in complying with regulatory requirements.

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