Evaluation Of Accounting Information In A Computerized Organisation (A Case Study Of Nigerian Breweries Plc Aba)


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Project and Seminar material for Accountancy

Project and Seminar material for Accountancy


Dedication


This project is totally dedicated to God Almighty for his wisdom knowledge and understanding to carry out this research work.


Acknowledgement


First of all I thank Almighty God for his wonderful mercy towords my academic metamorphosis. I would like to express my sincere gratitude to my project supervisor sir C.M Anyaogu whose support and assistance helped me in writing of this research work.

Moreover, my thanks goes to our Head of Department Sir C.M Anyaogu whose erudite ideas facilitated the successful completion of this work.

Never to left out are all the lecturers in Accountancy Department wo imparted the knowledge to me in the pursuit of this National Diploma.

I am indebted to my parents Mr. & Mrs. Peter Nnabuo for their parental care. Upbringing and vision towards my life. And big thank to my brothers and sisiters Ejike, Trust, Wisdom, Uju, Ifeanyi, Confidence, Ogechi, Joy, Happy, Ify, for their indispensable contribution through my studies may God Almighty reward and protect you all.

I wish to express my appreciation to my wonderful friends for their understanding, encouragement, support and assistance which helped me in putting this research work in black and white. Eshiogu confidence, Nwosu Udoka Hope, Cynthia.

I will not forget to mention my dearly one Agbachi Sylvester (Chidest) for his great contribution and caring towards these days of my academic pursuit. I sincerely pray that all his endeavour must be accomplished immensely.


Abstract


Computer has come to stay like the telephone system that has gradually become a life- wire in the communication world. Computer is wading its way through every face of life.

Daily people perceive the irresistible offering of this enigma called computer. No doubt they are unobtrusively getting hypnotized by its alluring kaleido scope on business, domestic, scientific and whole. Have you seen comfortable computerization is becoming synonymous with business? Equipped with very large storage capacity, tallied with very large storage data capacity compiled with powerful and flexible reporting and presented facilities, rolling on its wheel of every redefining the area of life-heap and filling cabinet that used to adorn the offices.
Information technology (IT) shit as a whole is putting a big question mark against the relevance of conventional information gathering.

Nigeria Breweries PLC being one of the industries that incorporated computer system in its department catches our attention in answering the big question posed by computer devices.

The incorporation of computers in Nigeria has necessitated a great change in the role of accounting information in the computer based accounting system.

I also understood that computerized system enables firms to have work schedules and operating instruments for each programme, available, and also in carring out its regular internal auditing of the electronic data processing (EDP) so as to establish all necessary control.

This research was embarked upon to evaluate accounting information in a computerized organization.
The aim was to find out the problem and prospects of using computer to prepare accounting information.


Table Of Contents


  • Title Page
  • Approval Page
  • Dedication
  • Acknowledgement
  • Abstract
  • Table of contents

Chapter One – Introduction

  • 1.1 Background of the study
  • 1.2 Statement of problem
  • 1.3 Purpose of study
  • 1.4 Research question
  • 1.5 Limitation of the study
  • 1.6 Significance of the study
  • 1.7 Scope of the study
  • 1.8 Assumption of the study
  • 1.9 Definition of terms

Chapter Two –Review Of Related Literature

  • 2.1 Accounting information
  • 2.2 Information
  • 2.3 Need for accounting information
  • 2.4 Parties interested in accounting information
  • 2.5 Accounting records and financial statement
  • 2.6 Computer and classification of computer
  • 2.7 Computer and accounting
  • 2.8 Accounting software and accounting system
  • 2.9 Manual accounting system
  • 2.10 The effect of computer and accounting information

Chapter Three

  • 3.0 Research methodology and design
  • 3.1 Research design
  • 3.2 Sources/methods of data collection
  • 3.3 population and sample size
  • 3.4 Sample technique
  • 3.5 Validity and reliability of measuring instrument
  • 3.6 Method of data analysis

Chapter Four

  • 4.0 Presentation and analysis of data
  • 4.1 Data Presentation
  • 4.2 Data Analysis

Chapter Five

  • Summary, Conclusion And Recommendation
  • 5.1 Summary
  • 5.2 Recommendation
  • 5.3 Conclusion
  • Bibliography
  • Appendix
  • Questionnaires.

Chapter One


Introduction

1.1 Background Of The Study

Nigeria breweries was incorporated on the 16th November 1946. it was incorporated as a private company for the purpose of manufacturing and selling beer and mineral waters, with a share capital of N300,000 (three hundred Dollars). All shareholders were foreigners.

On the 30th November, 1946, Mr. Douglas Jones, Mr. John Stanley Hughes and ,Mr. George Cotgreave were appointed the first Directors of Nigerian Breweries Limited (but later changed to PLc).

The company having been incorporated. It was time to build both brewery and offices. A site was acquired and actual building began in 1947. all the machinery and technical personal’s came from a board. It took years for the work to be completed.

On 2nd June 1949, Nigeria Breweries produced her first made in Nigeria lager beer. As the years goes by, Nigeria breweries continued to improve and increase in production of many other drinks such as Star, Gulder, Schnapps, Heineken.

In 1955, construction work began at Aba brewery. In 1957 Star Beer was produced for the first time at the Aba brewery within a year of its completion. The Aba brewery was produced at full capacity.

1959, Nigeria brewery took an important decision. It decided to sell 10% of its shares in the company. Nigeria breweries were the first European company to voluntarily offer shares to Nigerians. From 1960 – 1971. NBI involved in the production of soft drinks to enable it diversify.

In 1977, Nigeria breweries (NB) adopted brand name Maltina. The test marketing was done with the name Maltina. In 1978. Maltina was launched at Aba breweries, also in 1980 NB PLC, locally produced Maltex, 1982, it produced Vitamalt, 1984 malt and other raw materials, needed for beer production were placed under specific license.
In 1986, Nigeria embarked on structural adjustment programme (SAP).

This programme affected the consumption of NB PLC beer and non –alcoholic malt drinks. Which showed adverse effect on the progress of NB PLC. 1986 – 1995 was difficult years for NB because of market decline especially on beer. Transactions in an accurate and timely manner thus the computer became useful in the brewery industry.

Having computer system done is not enough as there has been effective management team monitoring the affairs of the organization. There is also need for evaluation of accounting information because of the possibilities or errors and fraud accruing are greater in computer than in manual system and the likelihood of discovery is also less. As a result of this there is need for well designed accounting information which will be carefully monitored in operation.


1.2 Purpose Of Study

The primary aim of this research work is to examine the accounts information in the computerized accounting system as established in Nigeria Breweries PLC. The researcher intends to evaluate the accounting system by identifying the areas of strength and weakness instituted by the management to provide for security to safeguard its asset. Accuracy and reliability of records errors and other irregularities common in such large establishments.

It is also aimed at observing the principle that guide the recording of the financial transaction of the company with the intention of ascertaining the compliance of these principle with general accounting principles. After analyzing and evaluating the company’s accounting system the researcher also aimed at offering suggestions and recommendation based on the findings. These findings and suggestions will be of a great help to Nigeria Breweries PLC and other computerized organization.


1.3 Research Question

The research question stated below are therefore the research question form, which the researcher aimed at obtaining relevant information from the research work, base in Nigeria Breweries PLC, is it necessary for business establishment to have computerized accounting system? Does the accountant encounter any problem using computer to perform accounting function?


1.4 Limitation Of The Study

Initially, the topic of the research project books like an area for exceptional students. This was so because of relatively newnes of computer system in this country.

Secondly, it was not easy getting information from these interviews. They were afraid that the researcher might divulge such information. It took several visit and assurance to make them see the genuineness of the research.

Finally, the limit of this research based on the evaluation of accounting information in a computerized organization like Aba base of Nigeria Breweries, which has other branches, but limit is based in Aba branch.


1.5 Significance Of The Study

The uses of computer in the industries have been of great help in evaluation accounting information, as increase in technology and civilization has it that people should be computer literate. This study aimed at:

  1. Finding out how accountant and use of accounting information have accepted the introduction of computer into their organization.
  2. Find out the uses of computer while performing or preparing accounting information.
  3. Identifying efforts being made to integrate computer to accounting information.
  4. Finding out the benefits derived from using computers to prepare accounting information.
  5. Identifying problems encountered while using computer to prepare accounting information.

The study may be beneficial and useful to the following bodies:

  1. The Government:They can generate revenue from taxing such industries. And these could be used for social infrastructure and capital expenditure.
  2. The Economy in General:This is because it creates awareness of the management process in an industry.
  3. The Production Sector/ Business:The effective control of the business will result to wealth maximization and profit accumulation others include:
  4. Research Scholars, Foreign Interest Groups, Home industries making use of computerized accounting information, and infant industries.

1.6 Scope Of Study

Computerized accounting information is an activity or process that should be done by or adopted by every organization.

This study therefore covers the application of computer in our organization.

The extent of computerization, the effect of computerized accounting information in our organization etc. not minding that the problem of the computerized accounting information as an aid to efficient management of organization to better or national issue.

The researcher decided to focus on enquiring from books. This was done to ease the problems of coverage, so that objectivity could be achieved.


1.7 Assumption Of The Study

The evaluation of accounting of a computerized firm sterns on the fact that records are used in preparing annual financial statement which are used by the management to know the result of operation of the organization at the end of each period.

It is therefore assumed that evaluation of accounting information in computerized firms like Nigeria Breweries PLC help to ascertain the reliability, accountability, efficiency and effectiveness of its accounting information.


1.8 Definition Of Terms

1. Accounting:

Means keeping records of business transaction in a systemic form.

2. Accounting information:

Means knowledge obtained from recording of business transaction.

3. Financial Statement:

Is a statement used to ascertain the financial position of a firm.

4. Cash Flow:

Is a statement, which shows source and application of fund of a company.

5. Computer:

Is a device (machine) used in accounting auditing and general management information

6. Software:

Is a various program written before the data. These are set of instructions which computer understands without which computer cannot work.

7. Data:

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

8. Back up copies:

They are duplicating copies kept for emergency use.


I bet you, the complete material is fully loaded. This is just an excerpt. The Material is in MS-Word Format which you can easily edit and is comprehensive for a complete research work for this topic


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How to nail it on the head during your project defence


You are through with writing that project. Now what?

You have found yourself at that point where you have to defend what you have written. Of course you have to stand in front of your supervisor and other literary personalities to prove that you know what you wrote in your project paper. Unfortunately, the more you think about it, the more it looks like you are about to face a legion. It is not a war. But the emotion of dread welling up inside of you makes it look like one. So now you are asking yourself questions.

  • How am I going to start?
  • I hope I will do well enough to get an A.

You really want to nail it, but you need to come to terms with exactly how to get everything in perfect control. Especially your emotions of fear that seem to make a wreck of you every time you think about public speaking.
So here is the deal. I want to help you avoid that feeling that would ruin your precious moment if you dare to let it. And we are going to do it together.

I am going to highlight some very important tips to help you get in control for you to be comfortable enough to move from that feeling of DREAD to CONFIDENT; and making an awesome Impression for that great rating your supervisors should be giving to you so freely.

Consider these tips as you prepare for your defence. We will be taking them one after the other so here we go.


Watch Your Body Language And Keep It Confident:

Can you tell that a person is falling apart if they look confident? … If I can second guess you rightly, am sure you answered no to that question. Remind yourself that you need to come out that way. Now this might seem like a huge big deal when you are dealing with the foreboding. Maintaining a poise of confidence is very important. So find your most comfortable position, sitting or standing and draw up your body. You must exude confidence. It is something you need to do for yourself. People can only see what you allow your body language to show. So you must endeavour to put that out. Remember the story of David and Goliath? … At the end of your defence day, you want to be David.


Dress In Your Most Comfortable And Impressive:

Am sure this one is a no brainer. However I must highlight that you choose comfortable pieces. You don’t want to look so good and yet look like you were forced to wear something that does not belong to you. It’s great to ensure that as impressive as your clothes are on you, that they are also very comfortable.


Speak With Authority:

Going hand to hand with that aura of confidence is your most powerful asset:your words. If you look that confident, your words must not come out like whimpers. To be able to pull this off, you definitely need to speak as deliberately as possible in expressing yourself. Let them also hear what they see.


Use, Your Gestures:

I have often found this to come to my rescue in dealing with shyness and conveying my confidence. Usually it gives you an edge to also drive home your point. You must, however, ensure that you do not over use it. It doesn’t mean that your hands should be flying all over the place. That would be absolutely unnecessary. If you do this well, after a while you will realize that you are not as self-conscious as you used to be at the very start. For most situations, it would have completely disappeared altogether; leaving a really confident you talking.


Have A Good Opening And Closing Line:

Make sure you have perfected a good opening line. You should also be armed with a good closing line too. Try and rehearse it to a friend. If for the first time you presented it, your friend does not say “wow, that’s beautiful” or something like that; just know you need to keep refining it until you get the perfect line. Both opening and closing lines will go a long way in how impressed your panel gets to rate you high.


Make Sure You Know Your Work:

Certainly you should understand how important it is to know your own work from start to finish. Not having in-depth knowledge of your own work is tantamount to a suicide mission. Why should you kill yourself?
When all is said and done, this is what you came to defend in the first place. You should know your work from A to Z.


Prepare For The Questions:

Now this part is truly essential. You must be sure you do not floor all the good work you did on your presentation by not answering correctly. You must pay attention to the questions you are asked to be sure you will give the right answer. Many people get it wrong at this stage and spoil their good presentation. When you do not understand any question do endeavour to ask the person to expatiate what they mean before you answer.


These tips are by no means exhaustive, but applying these tips will give you some necessary advantage you need for a great outcome. Of course that outcome would mean that you eventually earn all your points on this project.


The structure of a good project work


Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.

A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are


1. Introduction

The introduction of an undergraduate project states the main research problem and research argument. What precisely the study is all about and why it is important. It looks at the originality of the research work and how it will fill the gap in other studies. Justification for a research undergraduate topic should not be lengthy before it has been explicitly stated.

Below are the contents in chapter one of an undergraduate research project which includes;

  • Background of the study,
  • Statement of the problem,
  • Objectives or aims of the study,
  • The research questions,
  • Research hypothesis,
  • Significance of the study,
  • Scope of the study,
  • Limitations of the study and
  • Operational definition of terms.

2. Literature review

Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.

3. Research Methodology

This section includes a description of the research methods used in the undergraduate research work such as the sample size, data collection methods, measurement instruments, research data analysis procedures and the population from which the sample was selected.  This section also describes the method used in selecting the sample or samples, validation and reliability of the instruments used in the research work. There are different research statistical techniques used in undergraduate research work such as SPSS, e-views etc.


4. Results & Discussion

This section presents and discusses the data analysis results used in an undergraduate research work, the results of each analysis is being summarized, tabulated, and then discussed for each research question.  Then for each research hypothesis, the statistical test of significance selected and applied to the data is briefly described, followed by a statement indicating whether the hypothesis was supported or not supported.  In presenting the result analyses/summary in an undergraduate project tables and figures and or graph are used to add clarity to the presentation.


5. Summary, Conclusions And Recommendations

This section summarizes the findings of the study in an easy to understand manner.  It also explains the practical implications of those findings, and points to recommended directions for future research in that area.


References:

This is where every source cited in the undergraduate research work is being included. Every undergraduate research work must be properly referenced for its authenticity.


Choosing A Good Project / Research Topic


Students in Nigerian universities these days wish to choose a very simple project topic/material. There is no issue choosing a simple project topic; the only problem is your ability to choose a good project or research topic that your supervisor will easily approve for you.

Most project supervisors really want to see how good his or her project student understands his or her surrounding through the kind of topic he or she chooses for their project work.

There are some project topic that are not reject-able; for instance in Nigeria of today; what do you think is the major issue on ground now?

If a project student can choose or craft a topic on the effect of dollar increment on the economy of Nigeria. Such project topic will be very interesting to write on.

Now what are the qualities of a good project topic?

  1. The materials for the project topic must be easily assessable.
  2. The project topic itself must be meaningful.
  3. The variables must be able to give a clear aim of the project topic.

What do I mean by variable?

Well I am deriving my point from the area of project writing; the variables here are those main words in the project topic.

Like the above project topic; the effect of dollar increment on the economy of Nigeria. You can see the main variables that really define this project topic are:dollar, increment and economy.

Before you present your topic to your project supervisor, first of all understand your project topic, and then secondly try to do some research for your topic to see if at least you can get up to 60% of what you need to write the complete project.

I said that above because you might have a very nice topic that the materials are not available online and there are no books as regard the topic; in this case the project topic becomes difficult for you even though the topic is catchy.

What do I mean by your topic being assessable?

Well what I mean is very simple and easy to understand. Simply pick your project topic, type it on google and see if you will have at least a good background for the topic you are writing on.

If you can have a good background for your project topic and you can understand the problem associated with the project topic, then I believe the aim of the project is not far-fetched.

SAMPHINA ACADEMY

SAMPHINA ACADEMY

Samuel Obiora Blessed is the CEO and founder of Samphina Academy (samphina.com.ng) a.k.a Nigeria Students Media, the youngest engineering graduate of Federal Polytechnic Nekede in 2017 and the engine brain behind this great platform. He is the man behind the scene, filled with many potentials, a musician as well as a pro developer with the interest of Nigerian students at heart.

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