The purpose of this research work is to
assess the effects of information and communication technology on accounting
system a case study of Access Bank PIc, Ikeja branch Lagos.
The first chapter deals with
introduction, purpose, significance, scope, limitation of study, statement of
research problem, hypothesis and definition of terms.
The second chapter deals with
literature review i.e. the explanation of various texts, past research on ICT
development, problems, relevance of ICT to Accounting, Banking, Associated
Risks of lCT and Challenges.
The third chapter is focused on the
research methodology such as sources of data and method of data collection,
Description of population, Research Design, Data collection and scoring
Chapter four deals with presentation,
analysis and interpretation of data.
Finally, chapter five concentrates
summary of findings, conclusion, Recommendation and Suggestion for further
TABLE OF CONTENTS
Background of international Bank Plc
1.2 Statement of
1.4 Scope and
limitation of study
1.5 Purpose of
CHAPTER TWO : LITERATURE
2.1 Development of information and
communication Technology (ICT) IN Nigeria.
2.2 The Nigerian National Information
2.3 Communication / it Bodies in Nigeria
2.4 Problems Facings ICT in Nigeria
2.5 Measures against Information and
2.6 Relevance of information and Communication Technology
2.7 Area of information and communication
technology Development in Accounting
2.8 Areas of information and communication
Technology Development, Innovation and Banks
2.9 Relevance of ICT in Accounting Department in
2.10 Risk Associated With Development of ICT
2.11 Challenges of
information and Communication Technology (ICT) TO Accountants
CHAPTER THREE: RESEARCH
3.1 Statement of
3.4 Sources of
Data/Method of Data Collection
of the Population
Collection and Scoring
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
4.2 Presentation, Analysis and Interpretation of Data
4.3 Testing Of
CHAPTER FIVE :
CONCLUSION AND RECOMMENDATION
for Further research
communication technology is important for the survival of any organization most
especially in accounting profession. This is why the entire world now turned to
technology to provide solution to economic and other identified problems. Information
involves data processing system. It is the output of any data that has been
assembled into a useful form, interpreted, understood by and useful to the
recipient of the report. Communication can be said to be the process through
which information is passed within an organization.
often said to be language of business, it is used in the business world to
describe the transactions entered into by all kinds of organizations.
Accounting terms and ideas are therefore used by people associated with
business; we speak of liabilities, inventory, assets, cost, expenses, capital
and profit to mention a few. Accounting is the process of recording, strong,
classifying, summarizing and interpreting day to day business transaction.
applications were among the first commercial used computer. It was their
importance in the accounting operation that caused data processing department
in an organization to be initially responsible for accounting and financial
management through data processing department which are concerned with more
than just accounting. As a result, organization now used accounting programs
rather than any single type of program. Report should be prepared and information
delivered to individuals and agencies outsides the organization. For this
reason, virtually everyone associated with management of business must have at
least a rudimentary knowledge of business accounting. These include:
accountants, managers and other clerical and supportive staff.
Thus, it goes
without mentioning that those who use communication and information technology
(lCT) must have the knowledge of accounting process in order to maximize ICT
1.1 HISTORICAL BACKGROUND OF ACCESS BANK PLC
Access bank PIc
came into existence in March 1989 as a product of the partnership between some
visionary and dynamic Nigerian business men, to provide innovative and customer
focus products and services that will satisfy the public growing needs for
sophisticated banking service since its inception, a wide array of products and
services covering investment banking, retail and fund management.
The bank is
managed by some set of dynamic, versatile and result oriented team and easily
won national claim by emerging as the most profitable merchant bank just after
five years after it take-off. Over the years, the bank has grown to symbolize
innovation service excellence and professionalize with a diversified group
structure spanning the various areas of the financial service business. Access
bank Plc has made substantial investment in information technology with all its
branches effectively linked with one another and to the head Office through the
Very Small Aperture Terminal (VSAT), which enhance online real time
capabilities. This has made banking easy for the banks teeming customer across
commercial bank in July 1999 and later obtained a universal banking license to
avail many more business as regards customers of its unique products and
services as well as tap into other market opportunities in other Nigeria
economy. Following a resolution of the board in October 2001, the bank changed
to a public limited company in June 2002 and followed it up with Initial Public
Offering (IPO) in July same year. The capitalization of the bank was further
boosted with N3.58 billion being proceed from the IPO and by mid-2004 the bank
share holder fund had grown to NI0 billion before the new minimum capital base
of N25 billion was set by the regulators. Consequently the bank returned to the
capital market and raised new fund of staling N22.4 billion thereby grown its
shareholders fund to N34.7 billion. The bank shares are listed on the Nigeria
stock exchange (NSE). Since its debut in the commercial banking field, Access
Bank Pic has pursued aggressive branch network expansion programme. It offers a
full range of customers product covering a wide spectrum of the market and
these include the Access Diamond Fund (lDF) Access valuable yield accounts
(IVY) Access premium saving account (IPSA) to mention but few. The bank is a
direct agent for western union money transfer and partner of master card. As
socially responsible organization, it has maintained a long standing policy of
corporate responsibility to communities in which it operates and has made
impact in the areas of public health and education.
1.2 STATEMENT OF PROBLEMS
The advent of
information and communication technology (lCT) has great influence on
accounting system as well as the profession. The management aim of ensuring
accuracy, validity and reliability of accounting records cannot be so much
obtained if mechanized system is not in used especially in the case of organization
with large Multinational networks.
The problems of
inadequate and incomplete records resulting from frauds and other
irregularities not discovered that would have enhance proper planning and
effective decision making coupled with inability of a mutual system to meet up
with the level of organization's expansion (in a very large establishment).
Hence, the effects
of information and communication technology shall be examined in this study
irrespective of the above problems
of information and communication technology to accounting profession shall be
thoroughly examined in this study in respect of the above problems.
1.3 RESEARCH QUESTIONS
The main research
questions to be addressed in the course of the study are:-
What is the relevance of ICT to accounting profession?
Does ICT assist organization in decision making?
How can organization use ICT to bring out efficiency and
Is there any relationship between ICT and accounting profession?
Can accounting profession survive without ICT?
What are the I CT packages used in accounting
Can any organization achieve its goal without ICT?
1.4 SCOPE AND LIMITATION OF STUDY
The scope of the
research work is limited to the analysis of the effects of information and
communication technology an accounting system. The period to be covered by the
analysis will be limited to the available information which is constrained by
the availability of finance, transportation, time, secretariat barrier as well as
1.5 PURPOSE OF STUDY
This study is
primary directed towards the effectiveness and relevance of information and
communication technology (lCT) on accounting system since majority of
accounting entries now has software. It aims to explore have information and
communication technology (lCT) have changed many aspects of accounting and
financial reporting as well as the extent to which (ICT) has offer new and
exciting opportunities to accounting professionals.
SIGNIFICANCE OF STUDY
communication technology IS a crucial
thing to accounting profession which cannot be taken with levity. It possesses
a great advantage on the profession and the entire world. Therefore, the
assessment of its effects to accounting system is essential for the following
To enhance management appraisal of operation and
performance through the use of computer for accounting packages.
To appraise the level of organization growth through the
information collated and saved on the computer.
To assess the relevance of let to organization decision
iv. To assess the
impact of let on auditing practice and other accounting services
To assess the effect of technological change on
accountant personal quality.
1. 7 HYPOTHESIS
ICT does not assist organization in
assists organization in decision making
There is no relationship between let and
is relationship between ICT and accounting profession
let does not influence effectiveness and
efficiency within an organization.
ICT influence effectiveness and
efficiency within an organization.
1.8 DEFINITION OF TERMS
COMPUTER: This is an
electronic device which is capable of solving complex problem quickly and
HARDWARE: These are actual
physical components that constitute a computer
INTERNENT: This is
a global heterogeneous network of computer system that share a common protocol
SYSTEM: This is an
assembly of part where the part or components are connected together in an
organized way. E-GOVERNMENT: This is
a situation where the government agencies, parastatals and ministries are
connected online and are accessible through internet.
E-UNIVERSITIES: Universities In
the country and various countries of the world are new on internet providing
and coaching to students.
E-BUSINESS: This is a
situation where business transactions are conducted on internet. It thrives on
reliable technology and good business practice
INTERNET: it means an
international computer network made up of numerous networks. It is a large
network of computer pooled together by miles of cables
INTRANET: It is a private network which belongs to an organization
that uses internet protocol. It can only be accessible by members of the
Bruce Schneir (1996) Applied cryptography. John Wiley and sons secured
Tunde Mojeed (2000) Management Information System volume 1 Data sense
www.mama.com Relevance of ICT
to Accounting www.ask.comInformation Technology in
Auditing www. google. Com Role of ICT to Accounting Profession