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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.
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
1.1 BACKGROUND OF THE STUDY
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.
The computer can be defined as a tool or device which is
able to accept facts (data) and figure in a prescribed form, apply
prescribed processes to data and supply result of the processes
in a specified format as a meaningful information. There are also
different types of information depending on the make or type of
their functions. The revolution in technology to the computer
complements or in the other hand, substitute for ten elements
which are: – paper, personal memos, charts, reports, calculators,
Hartzell (2006) defines computer as an electronic machine
for processing information automatically and very quickly. The
important of computers is the ability to handle vast amount of
information and to do other processes with accuracy and speed
which cannot be manually undertaken have been recognized and
appreciated by financial institutions, hence the trend in the
computerized of banking operations.
Tanembaum (2010) sees computer as a machine that can
solve problems for people by carrying out instructions given to it.
The American Accounting Association defines accounting as the
process of identifying, measuring and communicating economic
information to permit informed judgement and decision by users
of the information. Accounting is also the establishment,
maintenance, collection and analysis of financial position of an
organization and any changes that have occurred or may occur
Omolehinwe (2009) defines accounting as the collection
and recording of financial data about an organization whether in
the private or in the public sector and analyzing the data so
collected to suit the decision that needs to be taken and reporting
the relevant information in a summary form to the user in a form
that is meaningful to him or her.
Chionye (2003) defines accounting system as the art of
identifying, recording, classifying measuring and interpreting in a
significant manner the financial transaction of an organization for
decision making. Summarizing from time to time the information
contained in the record, for its significant presentation and
interpretation to interested parties as an aid to decision making.
Accounting system is also defined as a consistent way of
organizing, recording, summarizing and reporting financial
Computerization is the installation of computers as a part of a
process of automation.
Banking in Nigeria has witness impressive development in
recent time particularly within the last decade in time with growth
in economic activities and complexities, banking service have
expanded significantly in size and variety due to increased by
computerization of banks.
1.2 STATEMENT OF THE PROBLEM
In spite of the benefit of computer to banking industry and
business generally some problem are still left unsolved and new
ones have been credited by the use of computer itself problems
The use of computer to keep accounting records.
Another problem is the displacement of labour hands in the
accounting department and its union implication and the problem
of low turnover (volume of operation) and profitability in banks.
1.3 OBJECTIVES OF THE STUDY.
The objectives of this study are:-
To determine he relationship between the application of the
manual accounting system and the computerized accounting
system in the banking system.
To find out, whether the effect of computerized accounting
system enhances higher turnover (volume of operation) and
profitability in banks.
To examine the impact of using computer to keep
1.4 RESEARCH QUESTIONS.
To be able to achieve the above purposes, some questions
would be asked which help the researcher to gather the
necessary information needed, they are:
Are there any relationship between the manual accounting system
and the computerised accounting system in the banking industry?
Also can computerized accounting system enhance high turnover
and profitability in banks?
Finally, What are the effects of using computers to keep
1.5 HYPOTHESES OF THE STUDY
In order to ensure the verification and validation of the
primary data gathered through administration of questionnaires. A
research hypothesis is formed comprising the null hypothesis (Ho)
and the alternative hypothesis (Hi).
Ho: – There is no relationship between the application of the
Computer and manual system in the accounting system of
Hi: – There is a relationship between the application of the
Computer and manual system in the accounting system of
the banking industry.
Ho:- The impact of computerized accounting system does not
enhance higher turnover and profitability in banks.
Hi:- The impact of computerized accounting system enhances
higher turnover and profitability in banks.
Ho:- There is no effect of using computer to keep accounting
Hi:- There is an effect of using computer to keep accounting
1.6 SIGNIFICANCE OF THE STUDY.
Most banks have growth and continuity as part of their
objective, and such objectives are best realized by an efficient
management, as well as effective computerized accounting
system. This has made it possible for banks to gain inherent
advantage while minimizing risks involved in their daily
This research project will therefore be of immense
advantage or benefit to the management of banks, computers and
other business organization using computerized accounting
system. Hence, the theories and concept contained therein can
be infused into their management system.
This research will also contribute to enhance efficiency in
the following ways;
a) Speedy and accurate decision making through the use of
computerized accounting system.
b) Improvement in the delivery and quality service.
c) The banks profitability will be improve.
Firstly, in the realm of academic, the project will be very
useful to wide audience as it applies to courses in accountancy,
banking and finance as well as executive development courses,
management seminars and supervisory workshop conducted in
colleges and universities.
1.7 SCOPE AND LIMITATIONS OF THE STUDY.
The scope of the study is restricted to examining the effect
of computerized accounting system on the performance of
banking industries such as, Diamond bank plc, Eco bank plc and
First bank plc all in Enugu metropolics of Enugu state.
1.8 DEFINITION OF TERMS
AUDIT TRIAL:- a technique that made it possible to retrace
processing of data in all other to charge, add or delete records in
BLOCKING:- the storage of more than one term in a record.
COMPLIER:- a programming system applied by a manufacturer
to convert a programme written in an automatic language into
EXPERT SYSTEM:- A computer system which embodies some of
the experienced and specialized knowledge of an expert. it
enables a non-expert to achieve comparable performance to an
extent in the field.
PPLICATION PACKAGES:- These are computer programmes
written for the purpose of carrying out specific task for individuals
or organizations with similar or related needs.
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