Computer An Important System In The Processing Of Accounting Information

Project and Seminar material for Accountancy

Project and Seminar material for Accountancy


This project is on computer an important system in the processing of accounting information the question is, to what extent is computer recreant in the processing of accounting information.

Technology affords better ways of doing things. No one doing serous business today will claim to be totally oblivious of the importance of computers are vary helpful and generally time saving, some business can still so without it. Therefore while considering if to get computer one should be rational and really should evaluate the benefits derivable from a computer by the business visa-vis the planned investment outlay.

It is against this background that the major concern of this research was made to identify desirable from computerization of accounting information system.

Chapter one, is the introductory chapter. It gives an over view of the research. It examines the research problem the statement of problem the purpose of the study significance, scope and limitations of study, research hypothesis and definition of some terms.

Chapter two provides a working definition on related literature. The following were considered. The computer, organization of accounting information system, impact/ relevance of computer in processing of accounting information planning for a computerized accounting system, benefit / cost of computerization in an organization and doing business without computer.

Chapter three examines the research methodology used in the study, it describes research design, analysis procedure, source of data, collection of data, population and description of questionnaires.

Chapter four presents the result of the data analysis and the testing of hypothesis.

Chapter five discusses the research findings based on data analysis. The conclusion of the research findings and recommendations are made in this chapter.

It is hoped that this study will stimulate more research on related topics. Finally, it is hoped that the findings from this study will add to the existing knowledge in administration.

Table Of Contents

Preliminary Page(s)

  • Title page
  • The approval page
  • Acknowledgement
  • Abstract
  • Dedication
  • Table of content

Chapter One

1.0 Introduction

  • 1.1 Background of study
  • 1.2 Statement of the problem
  • 1.3 Research hypothesis / question
  • 1.4 Significance of the study
  • 1.5 Scope and limitation
  • 1.6 Definition of terms
  • Reference

Chapter Two

2.0 Review of Related Literature

  • 2.1 The computer
  • 2.2 Organization of accounting information System
  • 2.3 Impact/ relevance of computer in processing of accounting information.
  • 2.4 Planning for computerized accounting system
  • 2.5 Cost and benefit of computer to an organization
  • 2.6 Business without computer
  • Reference

Chapter Three

3.0 Research Design and Methodology

  • 3.1 Research design
  • 3.2 Population
  • 3.3 Sources of data
  • 3.4 Data collection
  • 3.5 Data analysis procedure
  • 3.6 Description of questionnaire

Chapter Four

4.0 Data Presentation and Analysis

  • 4.1 Data analysis
  • 4.2 Testing of Hypothesis

Chapter Five

5.0 Findings, Conclusion and Recommendation

  • 5.1 Summary of findings
  • 5.2 Conclusion
  • 5.3 Recommendation
  • Bibliography
  • Appendix i
  • Appendix ii

Chapter One


1.1 Background Of Study

The basis for financial planning and analysis is the financial information financial information is needed to predict, compare and evaluate the firms earnings ability it is also required to aid in economic decision making investment & financial decision making. The financial information of an enterprise is contained in the financial statement or accounting report.

Accounting is the guide post for management every enterprise should know the activities carried on by it and the financial implication of its operations. The financial score of an enterprise is kept by the accounting system accounting information unit in business context is a unit in an organization that processes transaction to provide score keeping. It points out the problem faced or likely to be faced by the enterprise. It also brings to the notice of the firm the opportunities that are likely to arise. It indicates possible action, when needed. Accounting is the process of identifying, measuring and communicating economic information to permit judgment and decision by users of the information.

Accounting information could be classified under two heading or three headings. Under two headings. It is classified as.

Financial accounting which provides information about profit and loss and financial position of the organization at a given period and management accounting which provides management information needed for planning and control in an organization.

Under three heading. It is classified as:
i. Routine – Internal report:

That is day to day reports to management for planning and control of the organization function for instance performance report financial reports and accounts.

ii. Non-routine report:

This aids management for examples budget forecast, estimates and projections and articulation of computer organizational goals. No lay down format

iii. External report :

this is for external interest groups like government and creditors.
In the present country, the accounting information system has improved tremendously owing to advancement in technology. The development of computer has been acclaimed as the most important technological development of the twentieth century

Davis (1981-88) defined computer as a machine that is capable of manipulating or processing data under its own control without the need for being. “I computer has an electronic device that has the ability to accept data, internally score and automatically execute a program of instruction performed mathematical logical and report the result.

Computer is the latest craze in Nigeria today and it will continue to be relevant as the country develops. It has gained acceptance in all sectors of the economy.

The computer system as an important in the processing of accounting information cannot be over emphasized . the complicated nature of decision which must be taken in business organizations and government institution most especially in the area of financial and accounting operation often makes the use of computers mandatory if efficiency and effectiveness is to be maintained. As pointed out by Chukwu D.C.

The intelligent use of computer by the industrialized nations are led to efficient and effective private and public sectors which produce high quality goods at low cost and are seller able to whether the violent storm of keen foreign competition.

Developing economics like Nigeria enjoy low cost goods and services provided by develop economics and at the same time tries to protect their local industries from stiff foreign competition goods and services provided by these developing communities are inferior and dearer compared to that of developed countries.

Speed and accuracy of services are the watch word in most computerized industries mainly in fully industrialized. This makes it possible for them to realized their ultimate objectives (i.e. wealth maximization)

Through the use of computers economic pictures of the organization could be enhanced by cost displacement. Operational and revenue improved by the introduction of computers in all sectors of the economy. The tread towards representing information in manual dates to Hollezith (1890). In recent time there has been a move towards doing away with manual record keeping and transmitting the information electronically leading to what is called “ Paperless optice” However, it normally turns out that what goes automated is not the function as it has been performed to do what would normally be uneconomical and in some cases impracticable.

Instead one looks for a character of function, typically consisting of transition of current work of a number of people which can be redesigned so that he computer can do something equivalent although usually not identical. Once such a duster of work has been identified and the computer application designed one must also redesign the jobs of the people with whom the computer application will have to face.

The work of some workers will be substantially affected by the introduction of computers it does not mean, for instance that an accountant cases to be an accounted rather, the computer greatly aids his diverse operation as an accountant.

In fact, computer is gradually taking over all sphere of human endeavors especially the processing of accounting and cam perform any function provided information fed into it is accurate, complete and factual

1.2 Statement Of The Problem.

In our world today computers are used in large and small business education, science and engineering, health care, sports, in the home entertainment and leisure, artificial intelligence expert system, government and military. Due to the vest use of computer in almost every sector of the economy, the need for controllers or information generated by the computer becomes unavoidable.

One can rightly say that quick customer services and fast accounting operation is far from being actualized in some of our organizations. Quick services and fast operations means move work being done in shorter time. A firm with these qualities will have unrivaled customers attraction.

Musa (1985) noted that information processing probably the most significant industry in the world economy today and in the foreseeable future. It has expanded and continues to expand at a rapid rate. This expansion is in part related to the increase in cost effectiveness of computer hardware. Cost effectiveness has increase by a factor far bout 1000 every decade. As long as this rate charge continues, the rangers of tasks that can be handled most economically by computing is likely to grow rapidly. Since software is the major part of most computer systems, the field of software engineering can expect similar rapid growth

At this junction we look at what is actually the relevant of computer in the processing of accounting information.

According to Mcral C.N. the computer can be used in a wide variety of ways and often it is only the potential user who can appreciate and suggest thes uses. It is impossible that the user will exploit the potentials of the computer of he depends ion experts.

The computer soon absorbs most of the calculation and data processing within an organization. These have traditionally been the accountants responsibility and it is likely that certain aspect such as accuracy and control will remain his responsibility

It is known that overtime duties are common in accounting system as the working hours do not seem to be sufficient to finish a given days job. This of course means extra costs on the firm for overtime allowances and utility bills.

Some areas of accounting are hardly delved into by accountants because of high demands in time and human brain. Untold time and money is spend in rectification of mistakes made by workers in the course of manual processing of accounting information in particular and to business organization in general.

The researcher would also like to know how a business can apply computer, as well as planning for a computerized accounting system to finally to find out why some organization prefer using manual to using computer in business.

1.3 Research Hypothesis / Question.

Research Hypothesis

To come out with a reliable result the following hypothesis will be formulated and tested statistically.

  1. Ho: Computerization of accounting information system does not hinder the effectiveness of the accountant.
    H1: Computerization of accounting information system does not prevent increased speed of operation, processing and accuracy of output.
  2. Ho: Computerization of accounting information system does not prevent increase speed of operation, processing and accuracy of output.
    H1: Computerization of accounting system prevents increase speed of operation, processing and accuracy of output.
  3. Ho: Computerization of accounting information system not hamper the reliability and better storage of accounting information.
    H1: Computerization of accounting information system hampers the reliability and better storage of accounting information.
  4. Ho: The use of computer does not militate against accounting profession.
    H1: The use of computer militate against accounting profession.
  5. Ho: Computerization does not effect the employment of accountant to a large extent.
    H1: Computerization affects the employment of accountant to a large extent.
Research Question
  1. Is computerization an aid, a burden or a hindrance to a account?
  2. Are those benefits derived from computerization of accounting information?
  3. Is it possible to introduce computer is an existing company and how that take place?
  4. Does computers have effect on the performance of the accountant? The researchers posed those question to enable her find out if computers system is important system in the processing of accounting information.

1.4 Significance Of The Study

It is important that computerization would go a long way to enhance the overall effectiveness and efficiency of the accountants. In fact, it is very necessary to computerize accounting information for sound management decisions and implementation.

The importance of this study is to aid managers by way of drawing their attention to attainable ways of computer application in accounting information system. This will also help managers to enlighten the accountant on the benefits really derivable from a computer to the business vis-g-vis the planned investment outlay.

Also, this research will help to enlighten workers who feel and fear that computerization means displacement of their job. Moreover, this will serve as a projecting pad for further research in this field of study.

1.5 Scope And Limitation

It is imperative that a study of this magnitude will extent visits to a wide range of organization to elicit information from them. But this was not possible under the present dispensation.

Therefore the scope of this study was limited to United Bank for Africa PLC (UBA) and Euma consultant firm, with the hope that conclusions reaches in the course of the study would apply to other organizations.

Although every effort was made to ensure that realistic dependable results are arrived at, it is worth mentioning that the researcher encountered such problem.

  1. High cost of research materials coursed by the irrelevant economic down-turn in the country.
  2. Unwillingness of the respondents to give out certain useful information to avoid revealing organizational secrets
  3. Dearth of variable literature.

1.6 Definition Of Terms


In this study computer are seen as an electronics devices which received data through the input devices (keyboard and magnetic tapes) process the data in the central processing unit (CPU) and gives out information at the output unit (Visual Display Unit VDU)

Compered Information

These are data received as input, processed and given out as information to user. (that is information that passed through computer)

Important System

This is a system that is important. But system itself is described as the detailed plan or management for the inter-relationship and interaction of available resources to accomplish a given task.


A person whose job is to keep and examine the money accounts of a business.


This is the process of identifying measuring and communicating economic to permit informed judgment and decision by users of the information.


Data is a raw, unorganized, unprocessed, unarranged facts, and figures about a person or anything per say.


This is arrangement of an information in such a way that they can be inderstood


A device is anything created by man with his mental capacity.


Things made up of chips


Of a new computer system represents a major changes in the work routine of user. Careful consideration should be given to system conversion to create a minimize of disruption to business operations (i.e. an apparatus in a fixed state ready for use.)

Chapter Five

Findings, Conclusion & Recommendation


The importance of this study is quite too obvious to be re emphasize. Is it possible that computer can be an indispensable system in the processing of accounting information? To ensure that my discussion achieved my immediate and subsequent purpose, I toied to observe organization, clarified and appropriate levitations of various facts of the discussion based on this, I have sectionalized the entire study in the five chapters. In each chapter the appropriate discussion were carried out. Hence chapter five will elaborate on the findings made conclusion and recommendation is made.

5.1 Summary Of Finding

The results obtained from the resent study has conformed with the view that computer is very relevant in the processing of accounting information in our organizations. Computer is regarded as being very essential in accounting and it’s effect as a challenge in the accounting profession. Computerization has brought about an increase speed and accuracy of operation and freduction.

Some of the respondents met for the research agreed that the reason for computerization their accounting system was as a result of their desire to improve efficiency and productivity.

There efficiency and productivity, they believed can only be improved when the paper work is reduced to the bearest minimum.

From the findings, it was revealed that there are cost incurred and benefits denved from the computerization of accounting information. Also that at the introduction of computer in the processing of accounting information, they staff without computer knowledge are trained.

It was equally revealed in this study that some business enterprises prefer to do their business without computer due to problems faces during planning’s stage & the implementation stage of computerization project. The problem includes the choice of a suitable consultant in terms of experience and ability to deliver ,and the uncooperative altitudes of the users due to their fear for displacement.

Finally, I discovered that there is still a little opportunity left for accountants without computer knowledge hence such staffers are still employed.

5.2 Conclusion

In conclusion, it will be appropriate to add that even though there are much cost involved and there are instances of infringement on the confidentiality of information and data occasionally creep into wrong hands, the benefits in adopting a computerized accounting system clearly surpass the short comings.

The computer age is definitely here computerization is no longer an expensive past time or experiment. Both public and private establishments are finding it increasingly difficult to operate and compele effectively without the use of computers. Incredible speed of operation, vast storage capacity, accuracy, diligence and versatility, all make the computer an important system in this modern age and particularly for the processing of accounting information.

5.3 Recommendation

The researcher recommends that the computer professionals on their part should try to educate the users on the benefits of computer in the processing of accounting information to alleviate their fear of being displaced. By so doing, they will be read to work hand in hand with computer professionals in ensuring a successful operation of the system.

Also, the business enterprises should charge to a computer based accounting system when there is increase in the volume of transactions and greater efficiency and saving in costs can be made. Having noticed that frequent power failure and lack of adequate training favilities are problems or factors milita against the effective utilization of computer in some of the organization the researcher commends that prevision of generating sets be made and adequate facilities be provided for effective training. It is believed that charges will be made in the processing of the accounting information should the recommendation be followed.

Computer An Important System In The Processing Of Accounting Information

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