IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM ON THE SUCCESS OF A BUSINESS ORGANISATION
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
IMPACT OF COMPUTERIZED ACCOUNTING SYSTEM ON THE SUCCESS OF A BUSINESS ORGANISATION
Chapter one
INTRODUCTION
1.1 Background of the Study
Computers have had an impact on all aspects of human activity, most notably the accounting profession, the banking industry, corporate organisations, and engineering.
According to the American Heritage Dictionary of English Language (1993), a computer is a computing device, specifically an electronic machine that performs high-speed mathematical or logical calculations and assembles, stores, or processes information produced from coded input.
The Nigeria Banker (1988) defined a computer as an electronic equipment that, upon receipt of an appropriate input, is capable of processing the input in accordance with a set of previously supplied instructions and making the output available as required.
Similarly, the rapid organisational expansion and futuristic nature of the computer industry make computer literacy and computerization of banking operations a necessary aid to modern society; thus, computerised accounting systems have resulted in the supply of information that includes the following characteristics:
i. Efficiency.
ii. Accuracy.
III. Reliability
IV. Flexibility
v. Effectiveness.
vi. responsiveness.
The development of computers dates back to 3000 BCE with the development of the Abacus in 1962, Java developed the calculating machine as the first, Hollent in 1800 developed punch cards that aided census data processing in 1994, and Harvard College of Engineering developed the first automatic computer, known as the IBM computer Leventhal (1988).
Computerization was introduced in Nigeria in the 1970s by international corporations such as “UAC,” which put computers into operation in 1976 with the acquisition of IBM/370/76 mainframe computers as well as numerous Bumoushs TULDC computers for data collection (UBA news, 1981).
Computerization causes various unintended consequences, such as the elimination of some functions. Nigerian banks still need to improve their operations and performance.
1.2 Statement of the Problems
These are the issues confronting computerization in the economy.
1. Inability of commercial organisations to reduce time spent on processes such as fund transfers.
2. Inability to reduce time spent hunting for clients’ ledger cards, resulting in unnecessary loss of time.
3. The expense of training computer workers for each new system acquired.
1.3 PURPOSE OF STUDY
One of the reasons for the economy’s underdeveloped nature is the incapacity of corporate organisations, such as the banking industry, to provide efficient and precise services to clients. Thus, the objective of this research includes:
i. To recognise the current problems of commercial organisations.
ii. Determine the impact of computerization on the business organisation.
iii. Investigate how a computerised system can improve service efficiency.
iii. Determine how computerization can help to avoid or lessen the frequency of fraud within a commercial organisation.
1.4 RESEARCH QUESTION.
i. Has computerization changed the organization’s overall work structure?
ii. How much has the Bank gained from computerization?
iii. Do you find the staff’s response to computerization encouraging?
1.5 Scope of the Study
A business organisation utilising the case study of a bank; thus, the study does not intend to cover all operations and services performed by a business organisation, but rather to examine the impact and possibilities of a computerised accounting system in a business organisation.
i. Cash deposit and cheque
ii. Budgets and decision analysis are used to plan and control
iii. System dynamics and future information technology.
1.6 Significance of the Study
Because technology allows for more efficient processes, research is critical to the banking industry. The significance of the study includes the following:
i. To help employees understand the value of computers as a modern working method.
ii. To inform banks about the enormous potential of computerization for enhancing production, efficiency, and profitability.
iii. To educate people with limited knowledge about the relevance of computers and how they are conceptualised.
iv. To contribute to the literature on computerization in business organisations.
Need help with a related project topic or New topic? Send Us Your Topic