ABSTRACT

          This project is on computer an important system in the processing of accounting information the question is, to what extent is computer recreant in the processing of accounting information. Technology affords better ways of doing things. No one doing serous business today will claim to be totally oblivious of the importance of computers are vary helpful and generally time saving, some business can still so without it.  Therefore while considering if to get computer one should be rational and really should evaluate the benefits derivable from a computer by the business visa-vis the planned investment outlay.

It is against this background that the major concern of this research was made to identify desirable from computerization of accounting information system.

Chapter one, is the introductory chapter.  It gives an over view of the research.  It examines the research problem the statement of problem the purpose of the study significance, scope and limitations of study, research hypothesis and definition of some terms.

Chapter two provides a working definition on related literature. The following were considered.  The computer, organization of accounting information system, impact/ relevance of computer in processing of accounting information planning for a computerized accounting system, benefit / cost of computerization in an organization and doing business without computer.

Chapter three examines the research methodology used in the study, it describes research design, analysis procedure, source of data, collection of data, population and description of questionnaires.

Chapter four presents the result of the data analysis and the testing of hypothesis.  Chapter five discusses the research findings based on data analysis.  The conclusion of the research findings and recommendations are made in this chapter.

It is hoped that this study will stimulate more research on related topics.  Finally, it is hoped that the findings from this study will add to the existing knowledge in administration.

DEDICATION

          This project is dedicated to God, the solution to all my life’s questions.

 

CHAPTER ONE

1.0            Introduction                                                                            1

1.1     Background of study                                                     1

1.2            Statement of the problem                                                        6

1.3            Research hypothesis / question                                               8

1.4            Significance of the study                                                         10

1.5            Scope and limitation                                                      11

1.6            Definition of terms                                                                  12

Reference                                                                       15

 

CHAPTER TWO

2.0            Review of related literature                                            16

2.1     The computer                                                                16

2.2            Organization of accounting inf. System                         19

2.3            Impact/ relevance of computer in

processing of accounting information.                                    21

2.4            Planning for computerized accounting system               26

2.5            Cost and benefit of computer to an organization           62

2.6            Business without computer                                           66

Reference                                                                       72

CHAPTER THREE

3.0            Research design and methodology                                 73

3.1     Research design                                                             73

3.2            Population                                                                     73

3.3            Sources of data                                                              74

3.4            Data collection                                                               76

3.5            Data analysis procedure                                                          76

3.6            Description of questionnaire                                          77

CHAPTER FOUR

4.0            Data presentation & analysis                                        79

4.1     Data analysis                                                                 79

4.2            Testing of Hypothesis                                                    92

 

CHAPTER FIVE

5.0            Findings, conclusion & recommendation                       115

5.1     Summary of findings                                                     115

5.2            Conclusion                                                                     117

5.3            Recommendation                                                           118

Bibliography                                                                  119

Appendix i                                                                     121

Appendix ii                                                                    128

 

 

CHAPTER ONE

INTRODUCTION

1.1            BACKGROUND OF STUDY

The basis for financial planning and analysis is the financial information financial information is needed to predict, compare and evaluate the firms earnings ability it is  also required to aid in economic decision making investment & financial decision making.   The financial information of an enterprise is contained in the financial  statement or accounting report.

Accounting is the guide post for management every enterprise should know the activities carried on by it and the financial implication of its operations.  The financial score of an enterprise is kept by the accounting system accounting information unit in business context is a unit in an organization that processes transaction to provide score keeping.  It points out the problem faced or likely to be faced by the enterprise.  It also brings to the notice of the firm the opportunities that are likely to arise.  It indicates possible action, when needed.  Accounting is the process of identifying, measuring and communicating economic information to permit judgment and decision by users of the information.

Accounting information could be classified under two heading or three headings.  Under two headings.  It is classified as.

1. Financial accounting which provides information about profit and loss and financial position of the organization at a given period and  management accounting which provides management information needed for planning and control in an organization.

Under three heading.   It is classified as:

i.        Routine – Internal report:  That is day to day reports to management for planning and control of the organization function for instance performance report financial reports and accounts.

1. Non-routine report:  This aids management for examples budget forecast, estimates and projections and articulation of computer organizational goals.  No lay down format
2. External report :  this is for external interest groups like government and creditors.

In the present country, the accounting information system has improved tremendously owing to advancement in technology.  The development of computer has been acclaimed as the most important technological development of the twentieth centaury

Davis (1981-88) defined computer as a machine that is capable of manipulating or processing data under its own control without the need for being.  “I computer has an electronic device that has the ability to accept data, internally score and automatically execute a program of instruction performed mathematical logical and report the result.

Computer is the latest craze in Nigeria today and it will continue to be relevant as the country develops. It has gained acceptance in all sectors of the economy.

The computer system as an important in the processing of accounting information cannot be over emphasized . the complicated nature of decision which must be taken in business organizations and government institution most especially in the area of financial and accounting operation often makes the use of computers mandatory if efficiency and effectiveness is to be maintained. As pointed out by Chukwu D.C.

The intelligent use of computer by the industrialized  nations are led to efficient and effective private and public sectors which produce high quality goods at low cost and are seller able to whether the violent storm of keen foreign competition.

Developing economics like Nigeria enjoy low cost goods and services provided by develop economics and at the same time tries to protect their local industries from stiff foreign competition goods and services provided by these developing communities are inferior and dearer compared to that of developed countries.

Speed and accuracy of services are the watch word in most computerized industries mainly in fully industrialized. This makes it possible for them to realized their ultimate objectives (i.e. wealth maximization)

Through the use of computers economic pictures of the organization could be enhanced by cost displacement. Operational and revenue improved by the introduction of computers in all sectors of the economy. The tread towards representing information in manual dates to Hollezith (1890). In recent time there has been a move towards doing away with manual record keeping and transmitting the information electronically leading to what is called “ Paperless optice” However, it normally turns out that what goes automated is not the function as it has been performed to do what would normally be uneconomical and in some cases impracticable. Instead one looks for a character of function, typically consisting of transition of current work of a number of people which can be redesigned so that he computer can do something equivalent although usually not identical. Once such a duster of work has been identified and the computer application designed one must also redesign the jobs of the people with whom the computer application will have to face.

The work of some workers will be substantially affected by the introduction of computers it does not mean, for instance that an accountant cases to be an accounted rather, the computer greatly aids his diverse operation as an accountant.

In fact, computer is gradually taking over all sphere of human endeavors especially the processing of accounting and cam perform any function provided information fed into it is accurate, complete and factual

 

 

 

1.2     STATEMENT OF THE PROBLEM.

In our world today computers are used in large and small business education, science and engineering, health care, sports, in the home entertainment and leisure, artificial intelligence expert system, government and military. Due to the vest use of computer in almost every sector of the economy, the need for controllers or information generated by the computer becomes unavoidable.

One can rightly say that quick customer services and fast accounting operation is far from being actualized in some of our organizations. Quick services and fast operations means move work being done in shorter time. A firm with these qualities will have unrivaled customers attraction.

Musa (1985) noted that information processing probably the most significant industry in the world economy today and in the foreseeable future. It has expanded and continues to expand at a rapid rate. This expansion is in part related to the increase in cost effectiveness of computer hardware. Cost effectiveness has increase by a factor far bout  1000 every decade. As long as this rate charge continues, the rangers of tasks that can be handled most economically by computing is likely to grow rapidly. Since software is the major part of most computer systems, the field of software engineering can expect similar rapid growth

At this junction we look at what is actually the relevant of computer in the processing of accounting information.

According to Mcral C.N. the computer can be used in a wide variety of ways and often it is only the potential user who can appreciate and suggest thes uses. It is impossible that the user will exploit the potentials of the computer of he depends ion experts.

The computer soon absorbs most of the calculation and data processing within an organization. These have traditionally been the accountants responsibility and it is likely that certain aspect such as accuracy and control will remain his responsibility

It is known that overtime duties are common in accounting system as the working hours do not seem to be sufficient to finish a given days job. This of course means extra costs on the firm for overtime allowances and utility bills.

Some areas of accounting are hardly delved into by accountants because of high demands in time and human brain. Untold time and money is spend in rectification of mistakes made by workers in the course of manual processing of accounting information in particular and to business organization in general.

The researcher would also like to know how a business can apply computer, as well as planning for a computerized accounting system to finally to find out why some organization prefer using manual to using computer in business.

 

1.3     RESEARCH HYPOTHESIS / QUESTION.

          RESEARCH HYPOTHESIS

To come out with a reliable result the following hypothesis will be formulated and tested statistically.

1. Ho: Computerization of accounting information system does not hinder the effectiveness of the accountant.

H1: Computerization of accounting information system does not prevent increased speed of operation, processing and accuracy of output.

1. Ho: Computerization of accounting information system does not prevent increase speed of operation, processing and accuracy of output.

H1: Computerization of accounting system prevents increase speed of operation, processing and accuracy of output.

III      Ho: Computerization of accounting information system not hamper the reliability and better storage of accounting information.

H1:    Computerization of accounting information system hampers the reliability and better storage of accounting information.

IV.     Ho: The use of computer does not militate against accounting profession.

H1: The use of computer militate against accounting profession.

V.      Ho: Computerization does not effect the employment of accountant to a large extent.

H1: Computerization affects the employment of accountant to a large extent.

RESEARCH QUESTION

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