ABSTRACT
This study was
conducted to know the importance and relevance of Computer in accounting
sector. Three research question and three hypothesis guided this study.
A survey
research design was employed for the study. 50 sample was taken. A structured
questionnaire containing 50 items was used for the data collection, the three
hypotheses were tested at 0.05 level of probability. The findings of the study
revealed among other that:
1.
That there is need for computer to be use in
accounting system.
2.
There is need for the scope to be increased in
accounting sector.
3.
There is need for accountant to used computer in an
organisation.
4.
The opinion of an accountant are similar on the
computer to accounting will be considered from three perspective viz-Taxation,
Auditing and General. The only area difference is the level of importance
accorded each of these skills.
5.
Financial constraints lack of credit facilities.
6.
Reluctant of organisation to release facts and
figures.
Base on the
findings of the study, a number of recommendation were made.
TABLE OF CONTENT
Title page
Certification i
Dedication ii
Acknowledgement iii
Abstract iv
Table of Content v
CHAPTER ONE
1.1
Introduction 1
1.2
Purpose of the Study 2
1.3
Brief History of Computer Development 2
1.4
Importance of Computer in relation to Accounting 4
1.5
Historical Background of the Case Study 5
1.6
Limitation 6
1.7
Statement of the Study 7
1.8
Scope of Delimitation of the Study 8
1.9
Definition of terms 9
CHAPTER TWO
LITERATURE REVIEW
2.1
Introduction to Computer 10
2.2
Definition of Computer 10
2.3
Types of Computer 11
2.3.1 Computer
Configuration 13
2.3.2 Computer
Language 16
2.4
Development of Computer Usage in Nigeria 18
2.5
Use of Computer 19
2.6
Problems faced in the Application of Computer 22
2.7
Area in which computer are used 23
2.8
Definition of Some Term 24
2.9
Computer and Accounting 26
2.10
Management Information System 27
References 28
CHAPTER THREE
3.1
Research Methodology 29
3.2
Data Collection Method 29
3.3
Sampling Plan 29
3.4
Description of Data Collection Instrument 29
3.5
Research Design 30
3.6
Description of the Study Population 30
3.7
Data Analysis Procedure 31
3.8
Library Research 31
3.9
Problems face in case Study 32
CHAPTER FOUR
4.1
Analysis and Presentation of Data and Result 41
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1
Summary 44
5.2
Conclusion 46
5.3
Recommendation 46
Bibliography 48
Appendix
Questionnaire
CHAPTER ONE
1.1 INTRODUCTION
A computer
can be defined as a set of machines which accept data from an input device
perform arithmetical and logical operation in accordance, with or predefined
programme and finally transfer the data being processed to an output or useful
information device either for further processing or in final printed form, such
as business document, schedules and management control reports. Computer has
tremendous importance to the organisation and the society in general.
The
technology development of computer which is known as technical characteristic
can be traced to the first generation which is the first calculating machine
invested by Blaise pascal in 1942. The
development of computer continues from first generation to second generation
with different features till the last generation of computer which contain
sophisticated micro-electronic device are in use today by accounting firm,
accounting development.
The
importance of computer to accounting will be considered from three
perspectives, taxation, auditing and general use. The uses of computer contain
in tax office has ensured that tax returns are directed, edited and perfected.
Auditing,
the importance of computer in auditing cannot be overstressed since it makes
for the issue of appropriate internal control computer based – management
information system. Thus, it is said that accounting, information system and
computer auditing form the core of this chapter.
1.2 PURPOSE OF THE PROJECT
This
project is aimed at acquitting the readers with a computer is all about. It is
development and application to the accounting field.
1.3 BRIEF HISTORY OF COMPUTER DEVELOPMENT
There is no
gain saying the fact that computer are tremendous importance to organisation
and the society in general. The technological development of computer can be
traced to the first generation computer which is first calculating machine
invested by Blaise Pascal in 1942. These
was improved upon by German named Giltgriedd Labrite and much Later by Frank
Baldwin. This ;simply calculating machine has been so developed to the extent
that it was capable of only calculating, but it can also recorded, summarize
and print value by the end of the first world war, it was then known as the
“Accounting Machine”.
The present
age computer came inte existence when Dr. Herman Hollerith an American who
invested the punched card system merged his company with other to form what is
known today as International business Machine Corporation (IBM). This simply
punched card system was soon replaced by the digital computer, which is the
invention of Charles Babbage.
The first
electro-mechanical digital computer known as Handware mark was therefore
invested this soon gave way to the first electronic computer called ENIAC, designed
by I.W. Manchly and J.P Ecwarty in collaboration with some school of electrical
engineering after the development ENIAC, we have came into being in the 1940’s
and the second in the 1950’s. the third generation of computer. The first
generation of computer third generation of computer which were powerful,
reliable used in the early 1960’s and 190’s. the forth generations of computer
which contain sophisticated micro-electronic device are in the today.
1.4 IMPORTANCE OF COMPUTER IN RELATION TO ACCOUNTING
The
importance if computer to accounting will be considered from three perspectives
viz: Taxation, Auditing, and General.
TAXATION
The use of
computer contains in tax offices as ensured that tax returns are processed with
marketable use. At the computer centers, tax returns are directed, edited and
perfed, after which they are coded and
transferred on the punched card, which are then fed into computer for
processing. The information obtained is then reported to the tax authority or
tax administration.
AUDITING
The
importance of computer in auditing cannot be overspread since it makes for the
issue of appropriate internal control computer based on management information
system and computer auditing from the core of the use of computer in amounting.
Therefore, computer auditing should be target to accounting student to enable
them to make use of computer to carry out compliance and substantive test.
GENERAL
In general,
computer play an important role in areas such as clerical and authentical works
of recording and processing investories, purchase and payroll bill. They are
also important in keeping of statistical and analyzing economic information for
government purpose.
1.5 HISTORICAL BACKGROUND OF THE CASE STUDY
First Bank
of Nigeria Plc was formally known as British Bank of West Africa was
established in 1894. The West African currency Board (WACB) was established in
1912. The West African currency based was the product of the recommendation of
the Emmot committee set up by then, then Secretary of state, the Rt Hon. Lewis
Harcourt. This board retained the service of the BBWA as the currency
distribution agent. It set up four currency centers in Lagos (Nigeria), ACCra
(Ghana) Freetown (Sieri Leone) and Barthrist, now Banju (Freetown).
The bank
carried out functions similar to those of the African Banking Corporation, its
predecessor, in addition, British Bank of West African undertook the financing
Agricultural activities in Nigeria as well as international trade financing.
However,
BBWA was Scrutinized by nationalist and indigenous businessmen in Nigeria for
its discrimination lending activities. this led to the clamor, which brings
about indigenous participation in the bank and that was how the name was changed
by the Federal Government as First Bank of Nigeria Plc. The banks headquarter
which was situated in Board street, Lagos will be used for the case study of
the project.
First bank
of Nigeria Plc has the highest number of Branches in Nigeria commercial banking
system because it has over 300 branches in Nigeria in addition the bank has
close to 35,000 direct and indirect workers both skilled and unskilled in
Nigeria is one of the leading banks today in Nigeria. The entire banking
operation are computerized, using online and batch operation.
1.6 LIMITATIONS
The general
hardship encountered by every Nigeria today does not exclude the researchers
this however impede the researchers in property executing the project as
planned.
The time
limit for the research work has not give way into all the aspect of controls in
existence. Furthermore, there are set backs faced before retrieving necessary
information for the accomplishment of this project work. The set backs are as
follows:
-
Some management staff was biased because of the fear
of revealing the company’s the states of affairs.
-
Also, some of the senior staff in the accounting
department did so because of the fear of losing their jobs.
-
Lastly, a sample size 25 cannot be said to be a true
representation of workers of First Bank
Plc, Board Street Lagos which has a staff strength of over 210.
Hence, the
findings in this study cannot be vouch safe to be conclusive.
1.7 STATEMENT OF THE STUDY
All
researchable topic have a problem, the research problem is the academic
perplexing question post for resolution. The effectiveness or relevant of
computer as a high implication on the accounting sector in an economy.
The choice
topic entails the assessment of the general process involve in the preparation
of computer and the implementation of it for accounting purposes in First Bank
of Nigeria Plc.
THESE PROBLEMS ARE:
-
Is there need for computer to be use in accounting
system?
-
Is there need for the scope of computer to be increased
in the accounting sector?
-
Is there need for accountant to use a computer in an
organisation?
-
Does computer provide a framework for responsibility
accounting.
-
Does the effectiveness of computer motivate the
employees to improve their performance.
1.8 SCOPE OF DELIMITATION OF THE STUDY
This
chapter to the area which this study intends to cover and also some of the set
backs to the effective implementation of this project.
This period
has been selected because computer has become a very relevant in organisation
for its effectiveness and profitability. It also intends to use a case study of
First Bank of Nigeria Plc.
These
research work have been limited to this factors:
-
Financial constraints.
-
Reluctant of organisation to release facts and figures.
-
Inadequate of relevant data.
-
Time constraints
-
Bureaucracy set back in an organization.
1.9 DEFINITION OF TERMS
COMPUTER: A computer can be defined as a set of
machines which accepts data from an input device performs arithmetical and
logical operation in accordance with a predefined programme and finally transfer the data been
processed to an output or useful information device.
AUDITING: Auditing
can be defined as independent examination of expression on the financial
statement of an enterprise by an appointed auditor in pursuance of the
appointment with statutory relevant obligation.
TAXATION: Is the
process by which tax is been collected and assessed by the tax authority or tax
administration.
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