ACCOUNTING IMPLICATION OF COMPUTER INSTALLATION
(A CASE STUDY OF UNITED BANK FOR AFRICA (UBA PLC)
The contribution of the banking industry to the economic development of any nation cannot be over-emphasized. Computers have also contributed greatly to ease the functions performed by this industries in trying to meet its economic obligations to the nation. However, the computer equipment together with the programs and data files may also be subject to abuse by means of physical attack or distraction. Physical action and extortion become a real possibility which must be guarded against because of so much of the bank’s information’s especially in regards to financial matters and its ability to function as a service organisation is bound up with the computer.This research work evidently reviewed some of the accounting implication of computer installation. Despite the huge success recorded by the computer, it still remains one of the easiest and Fastest means to defraud an organisations. Funds. This research work has also reviewed that computer make emblesslement easier to accomplish and harder to detect. Dishonest users, Advanced fraudster (419) has been using the sophistication and speed of computers to their advantage in the planning aand execution of computer aided fraud. Hence, the issue of computer security in our banks should be given total commitment by the management of United Bank For Africa (UBA).
1.1 Statement of the study
1.2 Purpose of the study
1.3 Significance of the study
1.4 Statement of Hypothesis
1.5 Scope of study
1.6 Limitation of the study
1.7 Definition of terms
2.0 Review Of Related Literature
2.1 Computer Review
2.2 What is a computer
2.3 The development of Accounting Practice
2.4 What is Computer Installation
2.5 Profile of United Bank for Africa (UBA) PLC.
2.6 Types of computer
2.7 Computer Net-Working
2.8 Accounting Implication of Complication Net-Working
3.0 Research Design and Methodology
3.1 Source Of Data
- Primary Data
- Secondary Data
3.2 Method of Investigation
3.3 Sample used
4.0 DATA PRESENTATION AND ANALYSIS
4.1 DATA Presentation and Analysis
4.2 Test of Hypothesis
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
9. Has computer installation reduces the cost of bank services? (Table 4.6).
10. Has computer installation led to more efficient information storage in your bank? (Table 4.7)
11. Does Computer made it easier for computer users in the bank to commit fraud? (Table 4.8)
Computer has been over the years imposing a serious threat in the accounting system of organizations. In Nigeria of today, computers and computer technology are increasing becoming part of daily lives, especially now that the present government has general encouraged its inclusion in the school curriculum, even right from the primary education level. With the government’s hands stretched, every other person would appear to be finding ways on how to embrace knowledge in this discipline, no matter how little. These individual efforts by people, even though sponsored in some instances by organizations some of them work for, seem to have been yielding some fruitful results as it is now almost common – place to find people decoding series of computer – oriented technical jargons lither to alien to them.
Advancements and interests in computing have necessitated some people, who were not previously science – oriented, to go for more technical course on computer operation, computer programming, world – processing and spread sheet, key – purchasing, system analysis, systems design management, structured programming in series of languages; thereby making them more technically sound and useful to themselves on the part, and to the organizations they serve on the other. In industry as well, most establishments have their key operations fully computerized while a host of others patronize computer Bureaux for the installation and implication of some of their services like payroll, sales ledger, Accounts Receivable, General ledger, stock control, personnel Records, Inventory control, and so on.
To a large extent, therefore, the result of all these is that increased awareness has been created about computers and that the technology stands for almost through out the nation. On the other hands computer are just tools used in getting information record and retrieved the fastest way possible for subsequent use by the management through the use of electronic data processing with the three main concepts being:
- Process and
- Out put
As a result of this development, there seem to be an explosion in the acquisition and use of computers in Nigeria, particularly among banks. It is now in vogue for bank to rely on the availability and use of computer facilities as an advertising medium each for advertising the quality of services rendered by the bank. Banks and Airlines, the world over have shown great dependency on computer should a survey be carried out on how long companies, industrial group could function effectively in the event of services data processing disaster, the bank will top the table. As the bank become more dependent on computers together, process and report information, so do they become more vulnerable to the consequences of information loss, human error, equipment failure, nature disaster or improper use by unauthorized individuals which could lead to loss of vital information
A failure or accident involving a bank’s computer system can have far-reaching repercussion on the economy of this country and that of Nigeria public at large due to the central role of banks in the Nigeria economy. Dishonest users has been using the sophistication and speed of computers to their advantage in the planning and execution of computer aided fraud. Hence, the issue of computer security in our bank should be given total commitment by the management of the united Bank for Africa (UBA) PLC. The management of UBA must be aware of the potential problems and provide funding for the determination of the possible risk and protective measures needed to counteract them. Increase computer sophistication often calls for sophisticated security procedures.
1.1 STATEMENT OF RESULT
In Nigeria, there has been a lot of misconception about computer and its attendant effects on the banking sector. Some had gone as far as saying that the impersonal effect associate with installation of computer into banks will eventually lead to the demise of these banks while this is not altogether false. There are also those that think that compute in banks is a welcome development that had been long
However, what exponents against computer people do not knows is that problems of computerization of our banks are numerous ranging form lack of adequate application plan, shortage of finance and manpower to lack of basic necessities like electric power supply.
An attempt is made by the researcher as to finding out what the real concept of computer is.
1.2 PURPOSE OF THE STUDY
The purpose of this study is to identify the accounting implication of computer installation people continued to mention the positive effect of computer installation in our various organizations without unfolding some of the implications involved in it. the study therefore, is designed to review some of these negative effects of computer installation in our organization which include:
(a) Fraud: the CIFA” observe that as companies operation become dependent on computer systems. The possibility of fraudulently converting cash or goods or of defrauding the shareholders and others becomes increasingly possible danger of fraud through the use of computer installed remain undetectable and increase where it is perpetuated by trusted management personnel involving seemingly valid transactions. On computer fraud, Jacobs” warns this, beware of the computer. It can make embezzlement easier to accomplish and harder to detect.
(b) Unemployment: Computer creates unemployment in that, the job that thirty (30) people suppose to do can be easily done by one (1) person with the used of computer.
(c) Loss of accounting information’s due to data processing disaster.
(d) Loss due to human error, equipment failure or improper use by unauthorized individuals.
1.3 SIGNIFICANCE OF THE STUDY
Computer installation become more vulnerable to the consequences of information loss due to human error, equipment failure, natural disaster or improper use by unauthorized individuals. Because of the central role of the bank in the Nigeria economy, a failure or accident at the bank’s computer system can have a far-reaching repercussion on the economy of this country secondly, customers, outsiders Account balance must be up-to – date otherwise the bank are bound to run into problems of overdrawn accounts. Thirdly, information loss could have a great impact on the bank. Fourthly, competitors can mess a bank up if their information is divulged to outstanding. Finally, how much will it cost a bank to replace the computer Hardware? The commercial software and the customized software it is lost through theft or nature disaster.
In specific terms, this study will be useful to:
(a) United Bank for Africa (UBA) PLC or existing banks to knows the danger of computer installation.
(b) Proffer adequate measures to safeguard the computers installed from natural disaster.
(c) Embark on adequate training of staff on the proper used of computers.
1.4 STATEMENT OF HYPOTHESES
Ho: The installation of computers in UBA has led to minimization of rate of funds in the bank.
Hi: The installation of computer in UBA has not led to minimization of rate of funds in the bank.
Ho: The installation of computer has brought about loss of accounting information in the bank.
Hi: The installation of computer has not brought about a loss of accounting information in the bank.
Ho: The installation of computer has made it easier for the computer users to commit fraud.
Hi: The installation of computer has not made it easier for the computer users to commit fraud.
1.5 SCOPE OF STUDY
The scope of the study is retracted to the united Bank for Africa (UBA) PLC where there is full time computer installation in all the urban branches and partial computer installation in the rural branches. The restriction of this study to the Accounting implication of computer installation will give a good picture on the possible consequences.
1.6 DEFINITION OF TERMS
Accounting: Accounting is defined as the act of recording , classifying, and summarizing in a financial character, and interpreting the results thereof.
Another important definition by Okorie Onovo, 1997 defined accounting as the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by the users of the information.
TRANSACTION: It is defined as any dealing between two or more persons involving exchange of goods or services for a consideration, usually in money.
BOOK-KEEPING: Is an art of recording all money transactions of an organization, so that its financial position and its relationship to both its proprietors and to outside person can be readily ascertained.
COMPUTER: This is an electronic machine which accept data as input processed it to give information. It is also a device that under program control, reforms without human intervention.
NETWORK: Network is a group of connected computers that allows people to share information and equipment.
SERVES: A servers provides the following services to uses on the medullas network operating systems.
E-MAIL SERVERS: It provides local or enterprise wide electronic mail services.
SOFTWARE: A diskette used in storing information
HARDWARE: The machine that processes the information stored in the software.
SYSTEM: A combination of elements, their attributes and their inter-relationship.
NETWORK INSTALLATION: Is a group of computers connected together by cable or some other medium?
FRAM): Acquiring of organizational funds through illegal means.
INPUT: Input is simply raw data’s
OUT PUT: Is a processed data.
SOFTWARE INSTALLATION: Is the installation of the working brain of computer.
HARDWARE INSTALLATION: Is the putting in people the vision able part of the system that makes up a computer.
COMMUNICATION SERVER: Provided connection server to main frames or mini-computer system or to remote computer system and Network via wide area Network.
APPLICATION SOFTWARE: Are basic software that help in running the system.
TERMS AND CONDITIONS
Using our service is LEGAL and IS NOT prohibited by any university/college policies
You are allowed to use the original model papers you will receive in the following ways:
1. As a source for additional understanding of the subject
2. As a source for ideas for your own research (if properly referenced)
3. For PROPER paraphrasing ( see your university definition of plagiarism and acceptable paraphrase)
4. Direct citing ( if referenced properly)
Thank you so much for your respect to the authors copyright.
For more project materials
Log on to www.grossarchive.com