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AN EVALUATION OF IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM

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(Accounting Project Topics & Materials)

AN EVALUATION OF IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM IN UNITED BANK FOR AFRICA (UBA) NIGERIA PLC KADUNA

ABSTRACT

This research was carried out on the topic, problem and prospect of the computerized Accounting system in Nigeria Banks. Using the United Bank for Africa (UBA) Nigeria Plc, Ahmadu Bello way branch as a case study. The researcher intention was to find out how the use of the computerized accounting system is of benefit to Nigerian Banks to know whether the computerized accounting system can increase the speed at which withdrawals and deposits are made, to know the extent to which banks’ staff have acquired  the knowledge for the proper application of the system and to find out the problems associated with the use of the system. To achieve these, the researcher made use of both primary and secondary sources of data. The primary source of data used for this work were the questionnaire and interview though the questionnaire was mainly used. It was administered on the total number of staff in the processing department of the bank i.e. the sample size for this work. The sample size was ninety five (95). That is to say there were ninety five (95) employees in the processing department of UBA Nigeria Plc, Ahmadu Bello way Branch. The questions asked in the questionnaire were based on the research questions answers to which were not 40 positive. That is to say, though a large variable of the respondents responded positively, some had opposite views. All said and dome, the researcher came up with findings, that the use of the computerized accounting system had improved the effectiveness of the banks operating. It has also increased the speed at which customers of the bank can make deposit or withdrawal. The findings of this research project also had it that employees of the bank still need to be trained in computer technology so as to increase their knowledge of computer operation. Some problems found out be associated with the use of the system where the issues of fraudulent transactions which can be done easily without being detected through the computer, unauthorized transaction and change in programme instructions so as to affect some accounting information. After concluding that the use of the computerized accounting system had done good to the banking sector of Nigeria considering the positive changes witnessed by banks in Nigeria since its introduction, we recommended that Nigerian banks diverse. Their resources into implementing modern computer based system. They should try to meet up with their foreign counterparts who are applying more advanced computer technology in their operations. Banks in Nigeria should develop means or ways of detecting fraudulent transactions. That might be committed by same employees and also provide opportunities from time-to-time for their staff to go for computer training and skills improvement.


TABLE OF CONTENTS

Title page                                                                                 i

Declaration                                                                      ii

Approval page                                                                  iii

Dedication                                                                       iv

Acknowledgement                                                            v

Abstract                                                                           viii

Table of content                                                               xi

 

CHAPTER ONE

1.0      Introduction                                                             1

1.1   Background of the study                                          4

1.2   Statement of the study                                             6

1.3   Objective of the study                                              7

1.4   Research questions                                                  8

1.5   Significance of the study                                          9

1.6   Scope of the study                                                   10

1.7   Historical Background of the case study                  10

 

CHAPTER TWO

2.0      Literature review                                                      13

2.1   History of computers                                                        13

2.1.1        Generations of computer                                         15

2.1.2        First Generation of computer                                   15

2.1.3. Second Generation of Computer                            17

2.1.4        Third Generation of computer                                  18   

2.1.5        Fourth Generation of Computer                               18

2.1.6        Fifth Generation of Computer                                  19

2.2   Types computers                                                      20

2.2.1        Types of computer based on function                      20

2..2.2 Types of computer Based on structure                   22

2.2.3        Types of computer based on usage                          23

2.3   The computer hardware system                               24

2.3.1        The Generation processing Unit (C.P.U)                   25

2.3.2        The peripherals                                                        26

2.4   The computer software system                                 28

2.5   Method of procession data as it

computerized accounting system.                            35

2.5.1        Input                                                                        36

2.5.2        Processor                                                                         36

2.5.3        Storage                                                                    36

2.5.4        Output                                                                     36

2.6   Method input                                                           37

2.7   Techniques of processing                                                 41

2.7.1        Batch processing                                                     41

2.7.2        On line processing                                                   41

2.7.3        Real time processing techniques                              42

2.7.4        Looping or cycling processing techniques                        42

2.7.5        Interactive processing techniques                            43

2.7.6        Data base control system                                         43

2.8   Data processing department and control                 44

2.8.1        Internal Data processing control                              44

2.8.2        External Data processing control                             45

2.9   Computer based Accounting system                                45

2.9.1        The need for computerized accounting system        46

2.9.2        Advantages of computer based                                       

        Accounting system                                                   47

2.9.3Disadvantages of computer based accounting system 49

CHAPTER THREE

3.1      Introduction                                                             51

3.2      Research design                                                       51

3.3      Area of study                                                            51

3.4      Population of the study                                            52

3.5      Sample                                                                    52

3.6      Instruments for data collection                                        53

3.7      Validation of the instruments                                  53

3.8      Reliability of the instruments                                  54

3.9      Methods of data collection                                               54

3.10  Method of data analysis                                           54

CHAPTER FOUR

4.0   Data presentation and analysis                               57

4.1   Data presentation                                                    57

4.2   Data Analysis                                                           62

4.3   Testing of hypothesis                                               72

4.4   Summary of findings                                               75

CHAPTER FIVE

5.0      Summary, Conclusion and Recommendation          77

5.1   Summary                                                                         77

5.2   Conclusion                                                              79

5.3   Recommendations                                                   79

        Appendix I                                                               81

        Appendix II                                                              82

References                                                               87

CHAPTER ONE

1.0.  INTRODUCTION

During the primitive age very little or no notes were taken into proper record especially those activities and transactions involving money. The records and notes were usually taken either in memory (human being) or some marks on the ground or trees.

       

        As man developed from this primitive era to more complex economic society, there occurs notable growth and expansion in his way of life and activities he undertakes. During this time, the most disturbing problems that man faced was that there were no accounts and records. Being properly kept and stored. These therefore allow for inefficiency and breach of contract and trust.

       

        The more developed man became the more the need for systematic record keeping and storage. The complexity of the society lead to chronological order of manual development in record keeping. Important records can be kept manually for future use but still in tedious way.

       

At a more technological era, more work was done in the accounting system. Accuracy, efficiency and durability became pressing problems that faced the manually kept and processed records in the accounting system, hence the development and introduction of electronic mechanical machine into the accounting system became very vital.

A systematic technological advancement however gradually gave birth to what is known today as the computer. A computer is an electronic device capable of accepting data as input, applying prescribed processes on such data and giving out an output which is called information, computer can also be said to be a machine that manipulates in accordance with given rules in a pre-determined manner. It is an electronic device that is used to process complex and variety of data within the shortest possible time: This is because it has very high speed of operation.

Data can get into the computer for processing via the input devices such as keyboards, diskette, CD Rom, punch cards, flash drive etc. the actual processing of data within the shortest possible time: this is because it has very high speed of operation.

 

Data can get into the computer for processing via the input devices such as keyboard, diskette, CD Rom, punch cards, flash drive etc. the actual processing of data takes place in the arithmetic and logical unit (ALU). The control unit (CU) is where all the activities of a computer system are being monitored or coordinated and planned. There also is the memory that is the unit in charge of storing or keeping all data or information in a computer system for a long and short period of time. This storage is made possible under the supervision of the ROM and RAM.

There are various types of computers. They are classified as either analogue, digital or hybrid computers. A computer can also be a single purpose computer or a general purpose one. The computer is being used as an accounting device to perform various types of routine office jobs which formerly required the services of the clerical officer. Where the computer is installed and used effectively. It could perform payroll calculations, update accounts receivable and payable, control inventories, process insurance data, prepare dividend, keeping depositors accounts, distribute costs and expenses.

Accounting system in common use ranges from simple system in which accounting records are maintained by hand to sophisticated system on magnetic disk. The accounting to be used in any given company should be well tailored to the size and to the information need of the business in a computer based accounting system, he accountant need only to enter the data needed for the computer to prepare journal entries. All the writings and postings to general ledger and subsidiary accounts are then handled by the computer.

1.1      BACKGROUND OF THE STUDY

Computer being a new remarkable thing in the banking system in the country has increased the rate of which financial records such as ledger, customers accounts, balance sheets etc. are prepared. Since there immemorial banks usually process information such as calculations of money, updating of customers account etc manually, or with the aid of pocket calculators. In recent times, the number of customer operation account with the banks have increased. As a result of this, banks there fore decided to employee a means through which information can be processed efficiently and to ensure reliability in a speedy manner and this therefore initiated the introduction of computer operation into the banking system.

 Many Nigeria banks had since computerized their system of accounting, UBA Nigeria Plc is not an exception. It is therefore expected that by now the computerized accounting system whole have increased the speed in the deposit and withdrawal of money from the UBA Nigeria Plc Ahmadu Bellow Way branch. It is also expected that this system would be of immense benefit to the bank and that staff of the bank especially the cashiers would have by now, acquired the necessary skills that would enable them perform effectively using the computer. Apart from these, the UBA is expected to have discovered problems (if there are) associated with the use of computerized system of accounting.

1.2      STATEMENT OF THE PROBLEM

Banks in Nigeria have been using the computerized accounting system in their day-to-day activities. The UBA had adopted this system also.

The efficiency however of using this system by banks in Nigeria needs to be ascertained alongside its problems. Identifying how efficient the computerized accounting system has being would go a long way in accessing it i.e. knowing the advantage and disadvantage associated with it. Also one can be able to conclude that their advantage out numbered its disadvantage or their disadvantage over-power it advantages. Beside this, one can also have an insight on how Nigerian banks had change or improved over the years in terms of efficiency and accuracy since the introduction of the computerized accounting system. Into Nigerian banks the following therefore are the problems that promoted the undertaking of this research study. They include:

i.            Persistent system failure hinders the effective rendering of service to customers.

ii.          Break down or temporary lack of service in the system also affect the operation of the bank.

iii.        Manipulation of the computers by the staff with the attempt to defraud the bank also make important effect on the operation of the bank.

iv.         Frequent changes in the computer packages and without proper and adequate training also affect the operation of the bank.

1.3     

AN EVALUATION OF IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM

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Details

Type Project
Department Accounting
Project ID ACC1472
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 93 Pages
Format Microsoft Word

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    Details

    Type Project
    Department Accounting
    Project ID ACC1472
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 93 Pages
    Format Microsoft Word

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