THE ROLE OF DIGITIZED ACCOUNTING INFORMATION SYSTEM IN AN COMPANY’S ASSETS SECURITY (A STUDY OF UNITED BANK FOR AFRICA PLC, IKOT EKPENE)

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THE ROLE OF DIGITIZED ACCOUNTING INFORMATION SYSTEM IN AN COMPANY’S ASSETS SECURITY (A STUDY OF UNITED BANK FOR AFRICA PLC, IKOT EKPENE)

 

 

TABLE OF CONTENTS

Contents                                                                    Pages

Cover page      –      –      –      –      –      –      –      –      –      i

Title page –      –      –      –      –      –      –      –      –      –      ii

Certification     –      –      –      –      –      –      –      –      –      iii

Dedication       –      –      –      –      –      –      –      –      –      iv

Acknowledgement    –      –      –      –      –      –      –      –      v

Abstract   –      –      –      –      –      –      –      –      –      –      vii

Table of content       –      –      –      –      –      –      –      –        viii

CHAPTER ONE: INTRODUCTION

1.1 Background of the study-  –      –      –      –      –      –      1

1.2 Research Problem      –      –      –      –      –      –      –      4

1.3 Objectives of the study      –      –      –      –      –      –      5

1.4 Research questions    –      –      –      –      –      –      –      6

1.5 Research Hypothesis  –      –      –      –      –      –      –      7

1.6 Role of the study       –      –      –      –      –      –      8

1.7 Scope of the study     –      –      –      –      –      –      –      8

1.8 Limitation of the study       –      –      –      –      –      –      9

1.9 Definition of terms and acronyms      –      –      –      –      9

CHAPTER TWO: REVIEW OF RELLATED LITERATURE

2.1 Introduction     –      –      –      –      –      –      –      –        12

2.2 Overview of accounting information system      –      –        13

2.3 Theoretical framework of digitized accounting information –        –      –      –      –      –      –      –      –      14

2.4 Types of accounting information system-   –      –      –        16

2.4.1 Manuel    –      –      –      –      –      –      –      –      –        17

2.4.2 Digitized  Accounting Information System      –      17

2.5 Advantages of computer based accounting        –      –        18

2.5.1 Report and accounting analysis      –      –      –      –        19

2.6 Auditing     –      –      –      –      –      –      –      –      –        23

2.7 Cost of Computerization in bank        –      –      –      –        25

2.8 Benefit of applying computer in accounting operation        27

2.9 Reason why computer are used in bank    –      –      –        28

2.10 Types of accounting information      –      –      –      –        30

2.11 Users of Accounting Information     –      –      –      –        31

2.12 Banks and other lenders  –      –      –      –      –      –        32

2.13 Shareholders and managers    –      –      –      –      –        33

2.14 Inspectors of tax     –      –      –      –      –      –      –        33

2.15 Types of information system    –      –      –      –      –        33

2.15.1 Executive Support System (ESS)     –   –      –      –                                                               33

2.15.2 Management Information System (MIS)       –      –                                                               34

2.15.3 Design Support System    –     –      –   –      –      –                                                 34

CHAPTER THREE:  RESEARCH METHODOLOGY

3.1 Introduction     –       –     –     –    –      –   –      –      –                        35

3.2 Area of the study     –     –     –    –      –   –      –      –                        35

3.3 population of the study    –     –    –      –   –      –      –                        36

3.4 Sample and Sampling Technique  –      –   –      –      –                        36

3.5 Sources of Data        –     –     –    –      –   –      –      –                        37

3.6 Method of Data Collection       –    –      –   –      –      –                        38

3.7 Data Presentation and Analysis Method     –      –      –                        39

CHAPTER FOUR: DATA PRESENTATION, ANAYLYSIS AND INTERPRETATION

4.1 Introduction     –       –     –     –    –      –   –      –      –                        40

4.2 Data Analysis and Results-     –    –      –   –      –      –                        40

4.3 Test of hypothesis    –     –     –    –      –   –      –      –                        46

4.4 Discussion of findings      –     –    –      –   –      –      –                        56

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction     –       –     –     –    –      –   –      –      –                        58

5.2 Summary    –   –       –     –     –    –      –   –      –      –                        58

5.3 Conclusion  –   –       –     –     –    –      –   –      –      –                        59

5.4 Recommendations           –     –    –      –   –      –      –                        60

REFERENCES

APPENDIX

 

CHAPTER ONE

INTRODUCTION

  • BACKGROUND STATEMENT

Today’s business finds the application computer to be necessary. This is because the computer is known for providing a more efficient and effective means of collecting, recording, analyzing, interpreting and controlling a vast flow of data.

The evolution of the computer has had a revolutionary influence on the growth of accounting information and recording in contemporary business company.

It has enhanced the swift performance of the accountant’s job, banking operations which include the preparation of financial statements and reports for both internal and external users.

The introduction of digitized information system is highly appreciated because paper work is reduced and information can be stored and retrieved for use when needed. Also computer assists managers in making strategic decisions and solving problems.

The efficiency in reporting system of feed-back information needed for control purposes are overcome (Adewunmi, 1988).  The computer is accurate of reporting information on timely basis. Improved accuracy is also achieved from digitized information system because electronic computer are less likely to make errors than clerk with calculators.  There is no gain saying that “the knowledge of digitized accounting information is fast becoming a required condition for the accountant’s job, the bank job and even to strategic management team, who work in a computer based environment (Benis 1992)”. It is however observed that the administration of digitized accounting information system in banks and other establishment are characterized by problems such as inefficient and inadequate operators, high cost of maintenance of the computer system (Akinlade 1988).

Despite the stated problems, personal computer are changing the way finance, personnel analyse financial transactions, due to the availability of electronic spreadsheets, word processor and other software packages.

Digitized assets security helps to ensure the confidentiality, integrity and availability of assets from various internal and external threats. For e.g, A hacker might attack a system in order to steal credit and numbers by exploiting a vulnerability. Information (security) expert must employ appropriate countermeasures to handle the situation.

The Nigerian banking industries has gone through series of transformation to attain the global prominent, United Bank for Africa Plc for over a country has distinguished itself as a lending banking institution and a major contributor to economic advancement an development of Nigeria.

UBA’s history dates back to 1984 when the British French Bank Limited (BFB) commenced business in Nigeria and the erstwhile standard Trust Bank (STB) in 1990.

Following Nigerian’s Independence from Britain UBA was incorporated in 1961 to take over the business of (BFB).

Today UBA is one the African’s leading financial Institution offering banking services to more than 72 million customers across 700 business offices in 19 African countries.

  • RESEARCH PROBLEM

From time immemorial, most banks have been unable to show good performance, the reason or problem for the poor performance can be attributed to the following factors:

  1. INADEQUATE ELECTRIC POWER SUPPLY: Where power supply is not steady it post a great set back to digitized accounting operation in the Nigeria baking system. With this challenge most banks often run their computer on alternative energy generating plant to ensure uninterrupted processing.
  2. HIGH COST OF MAINTENANCE: The maintenance of computer has been a persisting problem to most of its users. Major contributing factors to this are usually lack of adequate spare parts and lack of skilled and experienced computer technicians.
  3. PROGRAMMED SOFTWARES: Bad programme software could lead to a wrong accounting outcome when not properly setup to meet the requirement of the business.
  4. THREAT OF VIRUSES: Computer virus hackers are the inherent problem of using digitized system which can destroy the data and files with no warning.

    Based on the above stated problems brings about the study to find possible solution to the (bank) managers through recommendations.

 

  • OBJECTIVES OF THE STUDY
  1. To examine the role of digitized accounting information system on the management of United Bank for Africa (UBA) plc.
  2. To evaluate the extent to which digitized accounting information system has helped the public, investors and management of UBA Plc.
  3. To examine the effectiveness of digitized accounting information system in UBA Plc.
  4. To find-out the problems associated with digitized accounting information system in UBA Plc.
  5. To make recommendations to the managements of banks on how the associated problems with digitized accounting information system in UBA Plc could be solved.
    • RESEARCH QUESTIONS
  6. Is there any relationship between digitized accounting system and the management of United Bank for Africa Plc regarding its assets security?
  7. What is the role of digitized accounting information system to the management of UBA Plc, Aka Road, Ikotekpene as regards its assets security?
  8. Does digitized of information helped in keeping strong internal control of the company’s assets?
  9. What are the problems confronting the effective operation of computer in UBA as regards its assets security?
  10. Are there means of solving the problems confronting the effective operations of computer in UBA as regards its assets security?
    • RESEARCH HYPOTHESIS
  11. Ho: There is no role relationship between digitized accounting system and the safety of assets of United Bank for Africa Plc, Aka Road, Ikotekpene

H1: There is a role relationship between digitized accounting system and the safety of asset of United Bank for Africa Plc. Ikotekpene.

  1. Ho: There is no role relationship between digitized accounting information an accountability of assets of United Bank for Africa Plc.

H1:  There is a role relationship between digitized accounting information accountability of assets of United Bank for Africa Plc.

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THE ROLE OF DIGITIZED ACCOUNTING INFORMATION SYSTEM IN AN COMPANY’S ASSETS SECURITY (A STUDY OF UNITED BANK FOR AFRICA PLC, IKOT EKPENE)

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