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THE IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM ON THE SUCCESS OF A BUSINESS ORGANISATION

ABSTRACT

This research work will the be examining the impact of the computerized accounting system on the success of a business organisation using the United Bank of Africa (UBA)as a case study. It comprises of the general introduction, purpose and scope of the case study. It also includes the view of authors, who in the past have dealt on the issues relevant and pertaining to the case study. The population of the study was partly on the customer and partly on the staff while the sample will be choosen out of the population. The data will also be collected through the questionnaire. In this age, computerized system is very important on the success of a business organisation in the whole world. The analysis of data used in this project will enable one to appreciate the great importance impact of computerized accounting system of the organisation perfectly 

CHAPTER ONE

INTRODUCTION

1.1  BACKGROUND TO THE STUDY  

Computer has affected all area of human endeavours most importantly Accounting profession, Banking Industry, business organisation Engineering. A computer according to the American Heritage Dictionary of English Language (2013) is defined as a device that compute specially an electronic machine that performs high speed mathematical or logical calculators and which assembles, stored, or otherwise process information derived from coded data. Another further definition of a computer by the ‘Nigeria Banker (2014) described a computer as an electronic device which on receipt of an appropriate input is capable of processing the input according to a set of previously supplied instruction and making the out put available as desired. Equally the rapid organisational expansion and the futurist nature of the computer industry make computer literacy and computerization of banking operations a necessary aid to modern society, therefore computerized accounting system has led to supply of information which include the following attributes:

i.   Efficiency          

ii.  Accuracy

iii. Reliability

iv. Flexibility

v.  Effectiveness

vi. Responsiveness

The development of computer date back to the year 3000 Bc with the development of Abacus in 1962, Java developed the calculating machine as the first, Hollent in 1800 developed punch card that aided census data processing in 1994, Harvard College of Engineering developed the first automatic computer and was called IBM computer Leventhal (2014). Computerization was introduced in Nigeria in 1970’s by the multinational enterprise like “UAC” which introduced computer into operation in 1976 with the acquisition of IBM/370/76 mainframe computers as well as several Bumoushs TULDC computers for data gathering UBA news (1981). Computerization leads to some consequent problems such as elimination of some functions. Nigerian Bank still need to adopt to enhance their operations and performance.

1.2   STATEMENT OF THE PROBLEMS   

These are the problems faced the computerization in an economy

1. Inability of business organisation to reduce time spent on operations like fund transfer 

2. Inability to reduce time spent in looking for customers ledger cards, thereby contributed to unnecessary waste of time.

3. The cost of providing training to computer staff each time a new system is acquired.

1.3    PURPOSE OF THE STUDY      

The inability of business organisation using the banking industry as example to render efficient and accurate services to customers has been one of reasons for underdeveloped nature of economy. Thus the purpose of this study, includes:

i.  To identify the present problems of business organisation

ii. To determine the impact of computerization on the business organisation

iii. To investigate on how computerized system can lead to increase in efficiency of service.

iv. To identify how computerization can contribute to prevent or reduce the incidence of fraud on a business organisation.

1.4    RESEARCH QUESTION

i.  Has computerization brought about changes in the work structure of the organisation as a whole?.       

ii.  To what extent has the Bank benefited from computerization?

iii. How is response of the staff to computerization do you see it as encouraging.        

1.5    SCOPE OF THE STUDY

A  business organisation using the case study of Bank, the study therefore does not intend to cover all operations and services being undertaken in business organisation but attempts to analyse the impact and prospects of computerized accounting system in a business organisation.

i.    Cash lodgment and Cheque

ii.   Planning and controlling through budgets and decision analysis        

iii.    System dynamics, future pends information technology

1.6   SIGNIFICANCE OF THE STUDY 

Since technology afford better ways of doing things, research is of great importance to the banking system. The significance of the study includes:

i. To enable the employees to realize the importance of computer as a modern of working method

ii. To enable the banks know the immense potential of computerization in increasing productivity, efficiency and profitability.

iii. To enable people with inadequate knowledge to know the importance of computer and understand the conceptualization of it.

iv. To add to the literature in the field of computerization in the business organisation

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