THE IMPACT OF INFORMATION TECHNOLOGY ON FINANCIAL REPORTING ON MONEY DEPOSIT BANKS IN NIGERIA

  • Type: Project
  • Department: Accounting
  • Project ID: ACC2713
  • Access Fee: ₦5,000 ($14)
  • Chapters: 3 Chapters
  • Pages: 20 Pages
  • Methodology: Statistical Analysis
  • Reference: YES
  • Format: Microsoft Word
  • Views: 991
  • Report This work

For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853
The study investigated the impact information technology has on the preparation and publishing of financial reports in deposit money banks in Nigeria. It examines whether Information Technology improves the qualities required by the international financial reporting standards on financial reports, and if it affects compliance with required standards as well. The study adopted descriptive research design method with a population of 2,500 accountants and a sample size of 345 which was derived using Yaro Yamani formula. The study made use of primary data. Data collected were analyzed using simple regression analysis. Results from the study based on the regression analysis which gave an outcome of 90% and a p-value of 0.00 for the first hypothesis show that information technology makes financial reporting more accurate, useable and of better quality. The regression analysis gave a result of 2.9% and a p-value of 0.680 for the second hypothesis which means that information technology does not hinder compliance with international financial reporting standards. Finally, the study recommended that information technology should be made a core part of the curriculum in schools and professional training of accountants so as to improve their skills. Also, research on advancements accounting technology should be taken serious in Nigeria, as there is constant change and improvement in this area.


INTRODUCTION
Financial reports are companies’ formal record of their financial activities. All corporate entities are required by law to account for their finances. Financial reporting is the preparation and publishing of financial statements or making accessible financial statements for users. These reports are expected to meet certain standards or qualities that make them easier and better to use. The qualities include relevance, understandability, reliability and comparability. Under section 331 of the companies and Allied Matters Act of Nigeria (CAMA) 2004, companies in Nigeria are to hold accounting records that would display and interpreted the transactions of the company to disclose with financial accuracy at any time the financial position of the company and other applicable matters. Banks and other financial institutions decree, 1999, section 25, requires all banks to release in a daily newspaper printed and circulated in Nigeria and approved by the bank copies of their statements of financial position, income statements and other relevant financial statements showing their financial position, structure and performance.

In their study, Kharuddin, Zariyawati and Annuar (2010), they state that accounting systems that were previously performed manually can now be performed with the help of computers. Thus, improvements in the Information Technology have facilitated the use of accounting procedures. They state that the increasing growth of Information Technology in the world has made the preparation and publishing of financial statements easier and less stressful. Novinson (2005), disclosed that the language known as Extensible Business Reporting Language is used to standardize the financial information in companies' annual reports. According to him, the format has brought about easy access and quick sorting. It enables investors find data they need and make investment decisions. Information Technology has subsisted for a long time, fundamentally as long as people have lived. According to Haigh (2011), Information Technology has existed because there were always ways of communicating through technology available at that point in time.

According to researchers (Sajady, Dastgir and Hasheem, 2008; Urquia, Raquel, and Clara, 2011), implementation, investment, and improvement of accounting information system are related to the increase in economic and financial results of a firm. Also that accounting information system leads to improved decision-making by managers, more efficient internal control systems, improves the quality of financial reports and improves performance measures and facilitates financial transaction processes. To respond to developments in Information Technology in financial reporting, providers of accounting information must possess a broader set of knowledge, skills and abilities than prior generations, (Fowzin and Narsin 2011).

THE IMPACT OF INFORMATION TECHNOLOGY ON FINANCIAL REPORTING ON MONEY DEPOSIT BANKS IN NIGERIA
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

Share This
  • Type: Project
  • Department: Accounting
  • Project ID: ACC2713
  • Access Fee: ₦5,000 ($14)
  • Chapters: 3 Chapters
  • Pages: 20 Pages
  • Methodology: Statistical Analysis
  • Reference: YES
  • Format: Microsoft Word
  • Views: 991
Payment Instruction
Bank payment for Nigerians, Make a payment of ₦ 5,000 to

Bank GTBANK
gtbank
Account Name Obiaks Business Venture
Account Number 0211074565

Bitcoin: Make a payment of 0.0005 to

Bitcoin(Btc)

btc wallet
Copy to clipboard Copy text

500
Leave a comment...

    Details

    Type Project
    Department Accounting
    Project ID ACC2713
    Fee ₦5,000 ($14)
    Chapters 3 Chapters
    No of Pages 20 Pages
    Methodology Statistical Analysis
    Reference YES
    Format Microsoft Word

    Related Works

    Chapter One  1.1 Background of Study 1.2 Statement of the Problem 1.3 Objectives of the Study 1.4 Hypothesis Statement 1.5 Significance of the Study 1.6 Scope of Study 1.7 Limitation of Study 1.8 Definition of Key Terms Chapter Two  Literature Review 2.1 Introduction 2.2 The Concept of Information and Communication Technology (ICT) 2.3... Continue Reading
    Chapter One 1.1 Background of Study 1.2 Statement of the Problem 1.3 Objectives of the Study 1.4 Hypothesis Statement 1.5 Significance of the Study 1.6 Scope of Study 1.7 Limitation of Study 1.8 Definition of Key Terms Chapter Two Literature Review 2.1 Introduction 2.2 The Concept of Information and Communication Technology (ICT) 2.3 Electronic... Continue Reading
    Chapter One  1.1 Background of Study 1.2 Statement of the Problem 1.3 Objectives of the Study 1.4 Hypothesis Statement 1.5 Significance of the Study 1.6 Scope of Study 1.7 Limitation of Study 1.8 Definition of Key Terms Chapter Two  Literature Review 2.1 Introduction 2.2 The Concept of Information and Communication Technology (ICT) 2.3... Continue Reading
    Abstract This study examines the influence of Firm Attributes on Financial Information Quality of listed Deposit Money Bank in Nigeria. Firm Attributes were proxied with Economic Profit, Firm Size, Dividend, Leverage and Firm Growth, while Financial Information Quality was proxied with Discretionary Loan Loss Provision Model (Chang et al. 2008).... Continue Reading
    Abstrac t This study is aimed at examining the impact of Corporate Governance on the performance of banks in Nigeria, attention was given to Zenith Bank as case study.The board composition and CEO duality has been identified as one of the problems that have significant effect on the bank’s performance. Corporate governance mechanisms used to... Continue Reading
    ABSTRACT The study examined the impact of liquidity management on the financial performance of commercial banks in Nigeria. The study adopts the use of primary data from 5 commercial banks still operating within (2012-2016), which are Zenith Bank, United Bank for Africa, Wema Bank, Access Bank and Union Bank. The study employed the survey design... Continue Reading
    CHAPTER ONEINTRODUCTION1.1 Background to the studyIt has become a worldwide dictum that the quality of corporate governance makes animportant difference to the soundness or unsoundness of banks. Thus, effective corporategovernance practice incorporates transparency, openness, accurate reporting andcompliance with statutory regulations among... Continue Reading
    CHAPTER ONEINTRODUCTION1.1 Background to the studyIt has become a worldwide dictum that the quality of corporate governance makes animportant difference to the soundness or unsoundness of banks. Thus, effective corporategovernance   practice   incorporates   transparency,   openness,   accurate   reporting   andcompliance with... Continue Reading
    Abstract This work assessed the impact of Information and Communication Technology deployments on Deposit Money banks performance, 2012-2017. The general objective of this study is to determine the impact of ICT deployments on Deposit Money Banks performance. Two specific objectives and two hypotheses were formulated and tested the study. The... Continue Reading
    ABSTRACT  This study examined the role of money deposit banks in financing agricultural project in Enugu Metropolis. It emphasizes the need to promote agricultural production to improve the standard of living and reduce the unguided population explosion which is in geometrical progression (G.P) while agricultural product was only growing in an... Continue Reading
    Call Us
    Get this work
    whatsappWhatsApp Us