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THE IMPACT OF COMPUTER APPLICATION IN ACCOUNTING AND AUDITING IN A MANUFACTURING COMPANY
ABSTRACT
The basic aim of this research work is to investigate, evaluate and ascertain the impact of computer application in accounting and auditing in a manufacturing company and then ensure attainment of set objectives. This study revealed that certain weaknesses in the effectiveness of computer application in accounting and auditing in a manufacturing company, for fraudulence practices on board. To identify and defined the various impacts of computer application in accounting and auditing; to identity and define the various computer and it’s function; to ascertain how fair their roles have contributed to overall performance of the board and to determine the external of independence of computer application in accounting and auditing, sector qualification, experience and special skills of the personnel. Both primary and secondary data was used for this study. The primary data were through questionnaires and interview while the secondary data were through consultation of Nigeria Breweries Accounting and auditing department and administration. The statistical tool used in analyzing the data so gathered was through the simple percentage method. The study summit the following recommendations which is aimed in examining and recommending the role of computer in a business transaction with the computer and the problem being associated with the use of computer to give information (output) needed out of it.
TABLE OF CONTENTS
Title Page i
Certification ii
Declaration iii
Dedication iv
Acknowledgement v
Abstract vi
Table of Content vii
CHAPTER ONE
1.1 Overview 1
1.2 Statement of the Problem 4
1.3 Objectives of the Study 5
1.4 Research Questions 6
1.5 Hypotheses 7
1.6 Significance of the Study 8
1.7 Scope of the Study 9
1.8 Limitation of the Study 10
1.9 Definition of Terms 10
1.10 Reference 12
CHAPTER TWO: LITERATURE REVIEW
2.0 Theoretical Framework 13
2.1 Definition of Computer 13
2.2 Historical Perspective of Computer 14
2.3 The Human Information System Stage 15
2.4 The Industrialized Man Machine System Stage 15
2.5 The Man Machine Digital System Stage 16
2.6 Accounting and Computer 21
2.7 The Placation of Computer in Accounting 22
2.8 Computer Auditing 24
2.9 The Influence of Computerized System of Accounting on the
Role of Auditors 25
2.10 Audit of the Computer 28
2.11 Relevance of EDP System to Financial Information 30
2.12 References 34
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Introduction 35
3.2 Research Design 35
3.3 Population and Sample Size 36
3.4 Sampling Techniques 37
3.5 Method of Data Collection 38
3.6 Techniques of Data Analysis 39
3.7 Summary 40
3.8 References 41
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF RESULTS
4.1 Introduction 42
4.2 Analysis of Data 43
4.3 Test of Hypotheses 53
4.5 Summary 63
CHAPTER FIVE
SUMMARY OF FINDINGS/CONCLUSIONS AND RECOMMENDATION
5.1 Summary of Findings 64
5.2 Conclusion 65
5.3 Recommendations 66
Bibliography 68
Appendix 70
1.2 STATEMENT OF THE PROBLEM
It is quite time that the device computer has contributed and has helped the modem business transaction - to be accelerated in updating an instantaneous information needed for the business through the help of computer.
The tediousness of manual work relating accounting and processing lessened. Therefore, even the job is reduced because one person can perform more than two duties in terms of using computer to carry out processing.
Meanwhile when doing this job a lot of problem are facing the accountant and auditor in carrying out this duties for the fact that when computer is used in making an entry, recording etc. It also desired that any other body to make use of the entries or recording must also be associated itself with the computer before he/she can interprets or communicate to outside world. We are going to see some of the problems of:
(i) Changing from manual (processing) to electronic data processing (EDD).
(ii) Auditor problem with computerized company
(iii) Accountant and use of computer to record accounting information into
the computer before processing.
1.3 OBJECTIVES OF THE STUDY
ICT is presume to have affected accounting practice positively in so many ways, research in these area have shown that ICT and its perceived importance due to its usage across several groups of business firms, especially in the field of Auditing. The study is aim at achieving the following objectives:
i. To assess the impact of ICT on firms’ financial transaction reporting.
ii. To evaluate the challenges associated with information and communication technology in accounting profession today.
iii. To assess and explore the impact of ICT usage since it can directly impact audit judgment, effectiveness and efficiency which form the basis for accepting the financial statement as to it true and fairness.
1.4 RESEARCH QUESTIONS
We can look at the problems through the following research questions
(i) Is there any problem encountered by auditor when auditing a
computerized company?
(ii) How can we reduce the problems that are being encountered when using computer application in account department?
(iii) Is there any particular computer application relevant to accounting
purpose? What are the problems encountered in the process of changing from handwork accounting process to a computer based accounting?
(iv) What are the responses of accountants in this company (Nigerian
Breweries) to the challenge posed by the introduction to the computer in accounting system?
(v) What are the differences in terms of efficiencies between manual and
computer used in accounting system?
1.5 HYPOTHESES