Influence Of Billboard Advertising Of Students Electioneering Campaign In Fidei Polytechnic Gboko

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Influence Of Billboard Advertising Of Students Electioneering Campaign In Fidei Polytechnic Gboko


Abstract


This research was carried out on the topic, problem and prospect of the computerized Accounting system in Nigeria Banks. Using the United Bank for Africa (UBA) Nigeria Plc, Ahmadu Bello way branch as a case study. The researcher intention was to find out how the use of the computerized accounting system is of benefit to Nigerian Banks to know whether the computerized accounting system can increase the speed at which withdrawals and deposits are made, to know the extent to which banks’ staff have acquired the knowledge for the proper application of the system and to find out the problems associated with the use of the system. To achieve these, the researcher made use of both primary and secondary sources of data. The primary source of data used for this work were the questionnaire and interview though the questionnaire was mainly used. It was administered on the total number of staff in the processing department of the bank i.e. the sample size for this work. The findings of this research project also had it that employees of the bank still need to be trained in computer technology so as to increase their knowledge of computer operation. Some problems found out be associated with the use of the system where the issues of fraudulent transactions which can be done easily without being detected through the computer, unauthorized transaction and change in programme instructions so as to affect some accounting information. After concluding that the use of the computerized accounting system had done well to the banking sector of Nigeria considering the positive changes witnessed by banks in Nigeria since its introduction, we recommended that Nigerian banks diverse. Their resources into implementing modern computer based system. They should try to meet up with their foreign counterparts who are applying more advanced computer technology in their operations. Banks in Nigeria should develop means or ways of detecting fraudulent transactions. That might be committed by same employees and also provide opportunities from time-to-time for their staff to go for computer training and skills improvement.


Chapter One


Introduction

1.1 Background of the Study

During the primitive age very little or no notes were taken into proper record especially those activities and transactions involving money. The records and notes were usually taken either in memory (human being) or some marks on the ground or trees.As man developed from this primitive era to more complex economic society, there occurs notable growth and expansion in his way of life and activities he undertakes. During this time, the most disturbing problems that man faced was that there were no accounts and records. Being properly kept and stored. These therefore allow for inefficiency and breach of contract and trust.

The more developed man became the more the need for systematic record keeping and storage. The complexity of the society lead to chronological order of manual development in record keeping. Important records can be kept manually for future use but still in tedious way.At a more technological era, more work was done in the accounting system. Accuracy, efficiency and durability became pressing problems that faced the manually kept and processed records in the accounting system, hence the development and introduction of electronic mechanical machine into the accounting system became very vital.A systematic technological advancement however gradually gave birth to what is known today as the computer. A computer is an electronic device capable of accepting data as input, applying prescribed processes on such data and giving out an output which is called information, computer can also be said to be a machine that manipulates in accordance with given rules in a pre-determined manner. It is an electronic device that is used to process complex and variety of data within the shortest possible time: This is because it has very high speed of operation.Data can get into the computer for processing via the input devices such as keyboards, diskette, CD Rom, punch cards, flash drive etc. the actual processing of data within the shortest possible time: this is because it has very high speed of operation.

Data can get into the computer for processing via the input devices such as keyboard, diskette, CD Rom, punch cards, flash drive etc. the actual processing of data takes place in the arithmetic and logical unit (ALU). The control unit (CU) is where all the activities of a computer system are being monitored or coordinated and planned. There also is the memory that is the unit in charge of storing or keeping all data or information in a computer system for a long and short period of time. This storage is made possible under the supervision of the ROM and RAM.

There are various types of computers. They are classified as either analogue, digital or hybrid computers. A computer can also be a single purpose computer or a general purpose one. The computer is being used as an accounting device to perform various types of routine office jobs which formerly required the services of the clerical officer. Where the computer is installed and used effectively. It could perform payroll calculations, update accounts receivable and payable, control inventories, process insurance data, prepare dividend, keeping depositors accounts, distribute costs and expenses.

Accounting system in common use ranges from simple system in which accounting records are maintained by hand to sophisticated system on magnetic disk. The accounting to be used in any given company should be well tailored to the size and to the information need of the business in a computer based accounting system, he accountant need only to enter the data needed for the computer to prepare journal entries. All the writings and postings to general ledger and subsidiary accounts are then handled by the computer.

Computer being a new remarkable thing in the banking system in the country has increased the rate of which financial records such as ledger, customers’ accounts, balance sheets etc. are prepared. Since there immemorial banks usually process information such as calculations of money, updating of customers account etc manually, or with the aid of pocket calculators. In recent times, the number of customer operation account with the banks have increased. As a result of this, banks therefore decided to employee a means through which information can be processed efficiently and to ensure reliability in a speedy manner and this therefore initiated the introduction of computer operation into the banking system.

Many Nigeria banks had since computerized their system of accounting, UBA Nigeria Plc is not an exception. It is therefore expected that by now the computerized accounting system whole have increased the speed in the deposit and withdrawal of money from the UBA Nigeria PlcAhmadu Bellow Way branch. It is also expected that this system would be of immense benefit to the bank and that staff of the bank especially the cashiers would have by now, acquired the necessary skills that would enable them perform effectively using the computer. Apart from these, the UBA is expected to have discovered problems (if there are) associated with the use of computerized system of accounting.


1.2 Statement of the Problem

Banks in Nigeria have been using the computerized accounting system in their day-to-day activities. The UBA had adopted this system also.The efficiency however of using this system by banks in Nigeria needs to be ascertained alongside its problems. Identifying how efficient the computerized accounting system has being would go a long way in accessing it i.e. knowing the advantage and disadvantage associated with it. Also one can be able to conclude that their advantage out-numbered its disadvantage or their disadvantage over-power it advantages. Beside this, one can also have an insight on how Nigerian banks had change or improved over the years in terms of efficiency and accuracy since the introduction of the computerized accounting system. Into Nigerian banks the following therefore are the problems that promoted the undertaking of this research study. They include:

Persistent system failure hinders the effective rendering of service to customers. Break down or temporary lack of service in the system also affect the operation of the bank.

Manipulation of the computers by the staff with the attempt to defraud the bank also make important effect on the operation of the bank.

Frequent changes in the computer packages and without proper and adequate training also affect the operation of the bank.


1.3 Objectives of the Study

The following objectives forms the focus of this study:

  1. To determine the importance of computerized accounting to commercial banks.
  2. To investigate the impact of computerized accounting on commercial banks.
  3. To highlight the challenges of computerized accounting system in commercial banks.

1.4 Research Hypotheses

The study formulated the following research hypotheses

  • H0: There is no positive impact of computer system on the accounting system of Commercial banks.
  • H1: There is a positive impact of computer system on the accounting system of commercial banks.
  • H20: The computerized accounting system has not facilitated the operations of the commercial banks.
  • H21: The computerized accounting system has facilitated the operations of the commercial banks.

1.5 Significance of the Study

This study would enable the researcher to pass their experience on the subject matter i.e. the problems and prospects of computerized accounting system in Nigeria banks to the concerned organization i.e. UBA Plc, Ahmadu Bello way branch so as to enable them be more conversant with any problem that might be identified as a result of the use of the computerized accounting system.

The findings of this research work will also serve as reference for academic endeavor to lecturers and students and also help customers of banks who would want to know about some advantages and disadvantages (if any) of the use of the computerized accounting system.


1.6 Scope of the Study

This study focuses on identifying the benefits that accurse to Nigeria banks as a result of the use of the computerized accounting system. It also tries to figure out any problem associated with the use of this system. Considering the time frame within which this work is to be completed and other factors; the researcher have decided to limit is work on the UBA Nigeria Plc, Ahamadu Bello way branch. The research will cover UBA Ahmadu Bello way branch Kaduna.


1.7 Historical Background of the Study

The UBA has its antecedents rooted in that of its precursor, the British and French bank Ltd. The British and French Bank ltd itself metamorphosed from BNCI, Parish (banquet National Pour Le Commerce ETL Industries) reestablished in 1932.

In 1949, the British and French Bank began operations in Nigeria at broad street, Lagos and officially opened for business in December with staff strength of twelve (12). The bank went public in 1960 in accordance with the policy and intention of the French owners of the bank to sell some of their shares to Nigerians. UBA became the First Bank among the international banks operating in Nigeria at that time to be registered under the Nigeria law. Its paid up capital was over 4 million.

By 1961 the bank grew from it one office structure to ten branched; located in Lagos, Kano, Kaduna and Port Harcourt. The branches that pioneered this early development of the bank include Kano branch established in 1934, Ebutemeta branch (May 1933), Apapa, were huse road (March 1936) and Port-Harcourt, Aggrey Road (October 12936).Due to the recent consolidation in the banking industry UBA was acquired by standard trust bank plc, however, the name of the bank stood as UBA. This was probably because of the good name and popularity of UBA. The acquisition took place some times between July and August 2005. After the merging, UBA now have four hundred and twenty six (426) branches nationwide with a capital and assets base of about 100 billion and N400 billion respectively. UBA is the first to emerge a mega bank in Nigeria.


1.8 Organization of the Study

The study is divided into five chapters. Chapter one deals with the study’s introduction and gives a background to the study. Chapter two reviews related and relevant literature. The chapter three gives the research methodology while the chapter four gives the study’s analysis and interpretation of data. The study concludes with chapter five which deals on the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusion and Recommendation

5.1 Introduction

It is important to emphasize that the objective of this study was to ascertain the influence of accounting system on public expenditure control in Nigeria. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will aid in assessing the impact of computerized accounting system in UBA.


5.2 Summary of Findings

The impact of computerized Accounting system in UBA was carried out by the researcher in this research exercise. The study was undertaken in consideration of its objectives had made some useful findings from the data collected through personal interviews, questionnaire administration and library research and also from the hypothesis formulated and tested.


5.3 Conclusion

The study revealed that because of the numerous benefits that are associated with computerised Accounting System more importantly its ability to produce and present relevant and faithful representative financial reports to end users, the government of Nigeria is assisting all commercial banks to migrate onto a common Computerised Accounting System. Undoubtedly, with the adoption of Computerised Accounting Systems, problems and challenges such as; high purchase, installation and maintenance cost, computer failure, inadequate information technology expertise and time involving are to be expected. However, the advantages from the use of a Computerised Accounting System far outweigh the problems and challenges as it has impacted the financial reporting of the banks positively. Hence, there is the need to adopt a Computerised Accounting System.


5.4 Recommendations

Based on the empirical findings of the study, the following recommendations are offered to UBA in particular, and the players in the banking industry.

  1. The government, through CBN Apex Bank should reinforce its computerisation policy for the commercial banks.
  2. Results of this study demonstrated that, no records have been kept that provide information on the financial benefits derived by the banks. It is therefore recommended that managements of UBA should take appropriate measures to document the financial benefits (reduced labour cost, audit expenses, and stationery expenses) derived from the use of Computerised Accounting Systems.
  3. To other commercial banks who intend to adopt Computerised Accounting Systems, it is recommended that, they undertake a more detailed cost-benefits analysis so as to identify the various significant benefits that come along with Computerised Accounting Systems.
  4. Software failure is a problem whose ultimate solution would be to change the software in use.
  5. Institutions that train accountant should do well to include the study of Computerised Accounting System as part of their courses to ensure that accountants are equipped with both accounting and the required Information Technology skills. In this area, it is recommended that management could enroll their employees on Business Information Technology programme.
  6. The design and implementation of a Computerised Accounting System involves lot of time especially with the test period (trial and errors). Thus the best way to reduce the time involved is to test the accounting system in stages instead of having to wait and finish the whole project before testing it.

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