– A Comparative Analysis of Computerized and Manual Accounting System –
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ABSTRACT.
This research study is a comparative analysis of computerized and manual accounting system with reference to Forte Oil Plc Enugu Branch. The essence of this study is to ascertain which one is more efficient and effective than the other.
Data were collected from primary and secondary sources which include the use of questionnaires, personal observation, text books, journals and internet.
It was discovered that software accounting system is expensive to run, it handles larger volume of data than manual accounting system, but it encourages fraud and funds can be lost in organization with the use of software accounting system.
In other to attain a larger volume of data and work accuracy in a shorter period, it is better for organization to use computerized accounting system to increase their efficiency.
Those studying accounting as a profession should be introduced to both the theoretical and practical aspect of the accounting and to reduce funds lost through fraud and forgeries, managers and accountants should provide software developers with progressive information relating to their activities.
TABLE OF CONTENT
Approval page
Certification
Acknowledgement
Dedication
Abstract
CHAPTER 1:
Introduction
Background of the study
Statement of problem
Objective of study
Research questions
Research hypotheses
Significance of the study
Scope of the study
Limitation of the study
Definition of terms
CHAPTER TWO:
Review of related literature
Evolution of accounting
Purpose of accounting information
Classification and storing data in an accounting Environment
Controls in the manual system environment
Controls in the computerized accounting system
The nature of integrated accounting software system
Basic requirement of software accounting data
Advantages of computerized accounting system
Disadvantages of computerized accounting system
Comparison between manual Accounting system and Software Accounting system
Effect of software accounting system on organization performance
Company’s Profile
CHAPTER 3:
Introduction
Research design
Area of the study
Population of the study
Sampling size and procedure
Instrument for data collection
Validation of Instrument
Reliability of Instrument
Method of data presentation and analysis
Sample distribution
CHAPTER 4
Presentation and Interpretation of Data
Decision rule
CHAPTER 5
Summary of findings
Implication of findings
Conclusion
Recommendations
References
Appendix
Questionnaires
INTRODUCTION
Background of the study
Accounting system according to an Italian monk, Luca Pacioli (1491), is the combination of personnel records and procedures that a business uses to meet its need for financial data.
Financial accounting also encompasses the summary of information and presentation of periodic reports such as profit and loss statement and balance sheet.
The historical firms of accounting were of different degree of sophistication according to the need and techniques of the time.
This is why modern accounting is based on the double entry system and the recognition of the dual nature of each transaction and this gives a co-ordinate support for the control of all the transaction of a business.
Accounting system according to business dictionary is an organized set of manual and computerized accounting methods, procedures and controls established to gather, record, classify, analyze, summarize, interpret and present accurate and timely financial data for management decisions.
In spite of this, there are policies for reporting an organizational performance and current conditions. These policies increase the usefulness of report including their reliability and comparability The policy that makes up acceptable accounting practices are determined by many individuals and groups and those policies are referred to as Generally Accepted Accounting Principles (GAAP).
Since accounting is a service activity, these rules reflect our society’s needs and not only on those of accountants. The Financial Accounting Standard Board (FASB) is another body or group that is seen as an independent group of seven full-time members with a large staff.
REFERENCES
Egba. (2016). Financial Reporting in Small and Medium Entreprenuers (SME’s) in Nigeria .
Ejiofor and Enyinnanya. (2013). Computer Appreciation. Umuahia: The Golihouse Publishers.
Etengu and Nasieku. (2015). Relationship Between Based Performance and Investment Decision.
Forbesplc. (n.d.). forbes. Retrieved from www.forbes.com/sites/mfomobongseble/2015/06/30/nigeria-billionnaire-femi-otoddaforte-oil-signs-83-million-contract-with-siemens
Frankwood and Sangester A. (1999). Business Accounting. London: Pitman.
GAN, A. (2014). Simplified Finance Accounting in Nigeria. Jacobs Classic Publishers Ltd.
library, y. a. (2009). YAL. Retrieved from YAL: www.yourarticlelibrary.com/accounting/computerizedaccounting/computerizedaccounting-system-features-advantages-and-details/62782
Marivic, A. (2009). Evaluating the Security of Computerized Accounting Information Systems (An empirical. UK: Aberdeen University.
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