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The effect of computerized accounting system on the performance of banking industry in Nigeria

ABSTRACT

The research topic of this study is “The Effect of Computerized Accounting System on the Performance of in Banking Industry – a study of selected banks in Enugu Metropolis. The purpose is to know whether the application of Computerized Accounting System superceeds that of manual Accounting System, and that if computerized Accounting System enhance higher turnover and profitability, and also whether a computerized accounting system is an effective means of keeping accounting records. The study population is 70 persons who are the members of the staff of the three major selected banks. Using the Taro Yamene’s formula the sample size calculated gave (60). The formulated hypothesis were tested using the analysis of variance (ANOVA) statistical technique at 5% level of significance. The researcher also made use of primary methods of data collection which included questionnaire and personal interview. Also the secondary method of data collection used was gotten from official documents of the banks, various research work on computerized accounting system, accounting journals, textbooks and Caritas University Amorji – Nike, Emene, Enugu State library. Based on these, the researcher recommended that banks in Enugu Metropolis should channel most of their resources in the training and development of bankers and Accountants personnel in computerized accounting system related technology such as I.C.T to boost performance in their banking operations and their personnel. Also due to the widespread of computer trends and its dynamics nature, it is recommended that banks in Enugu metropolis who are still battling with manual system should adopt specifically the Computerized Accounting System.

TABLE OF CONTENTS

Approval Page i
Dedication ii
Acknowledgements iii
Abstract iv

CHAPTER ONE:

INTRODUCTION
1.1 Background of the Study 1
1.2 Statement of the Problem 4
1.3 Objective of the Study 4
1.4 Research Questions 5
1.5 Hypotheses of the Study 6
1.6 Significance of the Study 7
1.7 Scope and Limitation of the Study 8
1.8 Definition of Terms 9

CHAPTER TWO:

REVIEW OF RELATED LITERATURE
2.1 Conceptual Framework 10
2.2 What is Accounting System? 15
2.3 Methods for Computerization in Accounting 17
2.4 Types and Principles of Computerized
Accounting System 20
2.5 What Is computer and Computer Trends 26
2.6 Types and Why We Use Computer System 28
2.7 Accounting Packages. 37
2.8 Application of Computer in Accounting System29
2.9 Merits and Demerits of Computerized
Accounting System and its Differences
with Manual Accounting System 41
2.10 Problems and Control of Computerized
Accounting System 49
2.11 The Effect of Computerized Accounting System
on the performance of Banking Industry in
Nigeria 47
2.12 A Brief History Origin of Banking under study 49

CHAPTER THREE:

RESEARCH DESIGN AND METHODOLOGY
3.1 Research Design 52
3.2 Sources of Data 53
3.3 Research Instrument 55
3.4 Reliability/Validity of Research Instrument 55
3.5 Population of the Study 56
3.6 Sample Size/Technique 57
3.7 Administration of Research Instrument 61
3.8 Method of Data Analysis 61
3.9 Decision Criterion for Validation of Hypothesis 62

CHAPTER FOUR:

DATA PRESENTATION AND ANALYSIS
4.1 Presentation of Data 63
4.2 Testing of Hypotheses 80

CHAPTER FIVE:

SUMMARY OF FINDINGS, CONCLUSION
AND RECOMMENDATIONS
5.1 Summary of Findings 93
5.2 Conclusion 95
5.3 Recommendations 96
Bibliography 100
Appendix I -Request for Supply of Information 102
Appendix II - Questionnaire 103
ix
LIST OF TABLES
TABLE 4.1.0 - To what extent is the operations of your
bank computerized. 70
TABLE 4.1.1 - Does your bank have a specific computer
(Data base) department/ section unit? 71
TABLE 4.1.2 - Does computerization aid quick customer
service decision making process
and accountability in your bank? 72
TABLE 4.1.3 - Computerized accounting system is an
effective means of keeping proper
accounting records. 73
Table 4.1.4 - Computerized Accounting system help to
gain inherent advantage while minimizing
risks involved in the daily banking
operations 74
Table 4.1.5 - There is a relationship between the application
of the computer and manual system in
the accounting system of the baking
industry. 75
TABLE 4.1.6 - The effect of computerized accounting
system enhances higher turnover
and profitability in banks. 76
x
TABLE 4.1.7- There is co-ordination and quality performance
in banking operations through the use of
computerized accounting system. 77
TABLE 4.1.8- There is an effect of using computer
to keep accounting records. 78
Table 4.1.9 - Computerized accounting system aids
in the examination of banks statements of
financial position to ensure agreement with
source documents. 79

CHAPTER ONE

Today’s modern technology brought into use the computer, this technology is the application of science to gathering, recording, processing and communicating of business information by means of electronic media. Most commonest tool for application is the computer and it involves all the transaction processing system management information system various business support system etc. The computer is a central force in the advancement of various organization. The historical development of computer started with Hollerith punched card of 1880,Goerge Alken calculator and Charles Babbage’ creation of the difference engine..

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