The Backbone Of Australian Economy Samples †MyAssignmenthelp.com

Question: Discuss about the Backbone Of Australian Economy. Answer: Introduction: The backbone of Australian economy is business from agriculture and rural sector that employs more than one and half million people. 12% of Gross domestic product of Australia account for the supply chain of agricultural sector. Rural research and development corporations is responsible for supporting the rural and agricultural sector success. The real benefits to primary producers of Australia are provided by targeted, strategic and regional relevant research. It becomes difficult for researcher to capture the benefits of rural innovation and translating the same into profit. There are reasonably large number of smaller enterprise in rural industries of Australia that are not capable of making investments in research and development activities (Connell and McManus 2016). Project objective: The objective of project is to identify issues faced in rural and agricultural industries of Australia. Identification of challenges by this sector would help in developing right strategy for success and prosperity of business. Research is carried out is representative of entire agricultural industry irrespective of location (Bowler 2014). Project scope The scope of research detailed here is would involve collating of relevant available data and information about research and development of private sector. Conducting of project involves several stages and analysis of future implications of changes in level of investment level of public sector and private sector (Rose et al. 2016). It also deals with analysing the information generated from survey. Literature review Agriculture and rural business in Australia has superior fit provided by sole proprietorship that is regarded as one of most recognized elements. An organization involved in rural and agricultural business activities can be assisted to make decisions with the help of manuals such as printed materials. Some of the issues faced by agriculture and rural sector has been discussed in aspects of financing, accounting, regulations imposed by government for regulating rural business. It has been depicted that business in agricultural sector has been facing issues with respect of technology in accounting. Dangerous bookkeeping zone of Australian business is finance department and it has been ascertained that there is lack of prompt access to money (Kotey and Sorensen 2014). Therefore, literature review mainly focuses on issues faced by Agricultural and rural business in Australia. Some of the issues that have been observed is involved with the bookkeeping issues faced by the agricultural and rural business and the process of book keeping is becoming hard to monitor and development of strategy that would assist in solving the issues associated with book keeping will help in promoting the development of rural and agricultural business in Australia. Australia is one of the technology advanced countries and despite of this fact, the rural and agricultural department is facing challenges associated with accounting (Wilson 2014). There is a need to ascertain the areas and modification of it for identifying the factors that is leading to lag in technological accounting (Fielke Bardsley, 2014). For the efficient management of book keeping in rural and agricultural business of Australia, it is required by country and several sectors operating therein to bring some prominent and drastic change for resolving the ongoing issue. Research question/Research hypothesis What are the major accounting issues faced by business involved in agriculture and rural activities? What are accounting issues faced due to intervention of intermediaries? What are the existing opportunities for Australian agricultural technology, expertise and marketing skills? What government measures would help in improving the accounting performance of agricultural and rural business? Research design and research methodology Exploratory design, explanatory design and descriptive research design are the three types of research design and discussion of each types of research designs are discussed below: Descriptive research design- Employing this type of research design enable researcher in explaining and exploring additional information on matters and facts related to the topic of research. This particular design is employed to understand the participants in the interview process in an accurate way and the aim of this particular research design is to cast light on problems and current issues through a data collection process. This enable researcher to describe the situation in a complete way as compared to employment of any other designs. Various aspects of phenomenon is described using this particular method. Explaining, describing and validating the findings of research can be explained using this research design. Descriptive studies are mainly associated with observational studies (Hibbard and Lurie 2013). However, collection of data is not the only fact involved in descriptive studies. The description of research process is provided in this particular section that involves collection of data, sampling, fieldwork and information section. Researcher has selected explanatory research design that helps in establishing cause and effect relationship between accounting and performance of rural and agricultural business. The research conducted will helps in establishing relationship between agricultural business development and accounting issues (Turnour et al. 2013). Qualitative research The systematic subjective approach is considered by qualitative research that assists in explaining real life experiences along with providing meaningful connotations. Moreover, research has conducted study on several issues faced by agricultural and rural business in Australia. Researcher has gathered qualitative data from the feedback provided by respondents of interview, observations of the interviewees. Prior academic research studies and analysis of scholarly articles also helps in understanding the themes, concepts and patterns on the current topic under consideration (Thomas et al. 2014). Analysis of the themes helps in understanding the patterns and trends observable in this particular matter. The interview conducted for the study aims at exploring participants views, beliefs and experiences on matters of accounting in this specific business. Essentially, the learner presents unstructured interviews that are conducted in an unorganized manner to extract initial responses and not in depth insights. Qualitative methods particularly interviews can help the researcher in exploring the topic, although partakers might not want to directly present the issues, however, the interviewer can deduce the information from their responses. Open ended questions are asked by researcher due to variety of reasons. Researcher presents open ended interview questions to get a sense of their views and subjective opinions on the matter under consideration. Researcher is involved in conducting personal interviews that is a field research descriptive in nature. There are number of reasons associated with trade off concerning inevitably between economic reality and ideals. Interviews are conducted from the traders and other intermediaries involve in farming, agricultural, and rural business that are capable of giving relevant information. Therefore, it can be said that there are multiple participants involved in interview process. The process of qualitative research involves: Defining questions This involves defining questions that make use of answering from the intuition of researcher. Data collection- Data are collected by conducting interview and as per qualitative aspects; researcher is required to decide the place of conducting interview, way of conducting interview and observation. Observation- Researcher would merely focus on experience of people involved in rural business while handling accounting, intermediaries and traders involved in agricultural business transactions and the difficulties they would face in embracing technology accounting. Data analysis- Analysis of data by conducting qualitative research is done by categorizing it on the basis of concepts, themes and patterns. Most of questions under this research process is answered by using their intuition of researchers. Qualitative data has been collected through thematic data analysis that is often used method in analysing of data. Method of collecting data: There are two methods involved in data collection that is primary and secondary. Primary data- Primary data involves gathering relevant information from distribution of questionnaires. Interview is conducted asking three to four questions from traders involved in agro based business and officials responsible for handling agriculture based business transactions. Participants also include intermediaries in the value chain of farming business. Questions were open ended and they are unstructured. Secondary information source- The sources of secondary information collection included newspapers, books, websites, journals and magazines. Informations relating to accounting issue are collected from secondary sources was not appropriate as there are many bodies involved in publishing of such information. Moreover, some of information were missing. Research limitations The study conducted does not provide a complete picture of the assessment of accounting issues faced in agriculture and rural business in Australia. Interviews and observations involved in the process of test development might lead to somewhat different interpretations (Rose et al. 2016). The generalizability of findings would be enhanced by increasing number of questions developed by researcher. Difficulties were faced in collecting reliable data, as most of participants did not have in depth knowledge about the accounting system. Firstly, there exist an integrated chain from directly farm and market where agricultural products are sold. Presence of large number of intermediaries at different stages increases the possibility of distortion and unavailability of data on agro based business. Secondly, farm based business faces a potentially conflictive concern of sharing of ownership and there is lack of coordination between owners, this makes availability of data on business difficult . Some of issues were also faced by researcher in understanding the concept of agricultural business from the view point of traders involved in agro based business as they hardly make use of technological advancement in their process of accounting (Tisenkopfs et al. 2014). Time schedule Research Activities July, 2017 1st week July, 2017 2nd week July, 2017 3rd week July, 2017 4th week August, 2017 1st week August, 2017 2nd week August, 2017 3rd week August, 2017 4th week September, 2017 1st week September, 2017 2nd week September, 2017 3thweek September, 2017 4th week October, 2017 2nd week October, 2017 2nd week Selection of research topic Topic under this study is analysing the issues of accounting in agricultural and rural business in Australia Developing research plan Literature review Research Design Research Methodology Primary data Secondary data collection Data analysis Findings and analysis using primary and secondary data Constructive Argument Initial Draft Research limitations Conclusion and recommendations Final Submission Conclusion There has been dramatic change in the accounting in agricultural and rural business due to advancement of technology. Agricultural businesses are facing accounting issue in recent times and there exist lot of potential in such industry that can drive economic development of country. Rural communities in Australia are supported by the agricultural business and the long-term solutions for industry requires coming up with extra remedies. For better development of industry, it is required by government to take appropriate steps that would bring optimistic change in the agricultural industry. References: Bowler, I.R., 2014.The geography of agriculture in developed market economies. Routledge. Brown, J.P., Goetz, S.J., Ahearn, M.C. and Liang, C.L., 2014. Linkages between community-focused agriculture, farm sales, and regional growth.Economic Development Quarterly,28(1), pp.5-16. Connell, J. and McManus, P., 2016.Rural revival?: place marketing, tree change and regional migration in Australia. Routledge. Duarte Alonso, A. and Northcote, J., 2013. 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Learning as issue framing in agricultural innovation networks.The Journal of Agricultural Education and Extension,20(3), pp.309-326. Turnour, J., McShane, C., Thompson, M., Dale, A., Prideaux, B. and Atkinson, M., 2013. Accounting for agriculture in place-based frameworks for regional development: Discussion paper. Wilson, P., 2014. Farmer characteristics associated with improved and high farm business performance.International journal of agricultural management,3(4), pp.191-199.