Thesis Abstract

Abstract
The banking industry in Nigeria has experienced significant transformations with the adoption of computerized accounting systems. This study aimed to investigate the effects of a computerized accounting system on the performance of the banking industry in Nigeria. The research employed a mixed-method approach, combining quantitative data analysis of financial performance indicators and qualitative interviews with banking professionals. The findings revealed that the implementation of computerized accounting systems has resulted in improved efficiency and accuracy in financial transactions within Nigerian banks. The automation of accounting processes has reduced errors and enhanced the speed of financial reporting, leading to more timely decision-making by bank management. Additionally, the computerized systems have improved internal controls, reducing the risk of fraud and enhancing overall security in financial operations. Furthermore, the study found that employees in the banking industry have generally embraced the use of computerized accounting systems, recognizing the benefits of increased productivity and reduced manual workloads. Training programs provided by banks have been instrumental in ensuring that staff members are proficient in using the new systems effectively. Moreover, the integration of computerized accounting systems has enhanced customer service delivery in Nigerian banks, enabling faster processing of transactions and improved accessibility to financial services. However, challenges such as initial implementation costs, technical issues, and resistance to change were identified as potential barriers to the full realization of the benefits of computerized accounting systems in the banking industry. Despite these challenges, the overall impact of computerized accounting systems on the performance of Nigerian banks has been positive, leading to increased competitiveness and improved financial outcomes. In conclusion, the adoption of computerized accounting systems has significantly enhanced the performance of the banking industry in Nigeria. The findings highlight the importance of technological innovation in improving operational efficiency, decision-making processes, and overall service delivery in the banking sector. Moving forward, continuous investment in technology, training, and change management strategies will be essential for sustaining the benefits of computerized accounting systems and driving further growth in the Nigerian banking industry.

Thesis Overview

INTRODUCTION1.1 BACKGROUND OF THE STUDYToday’s modern technology brought into use the computer, this technology is the application of science to gathering, recording, processing and communicating of business information by means of electronic media. Most commonest tool for application is the computer and it involves all the transaction processing system management information system various business support system etc. The computer is a central force in the advancement of various organization. The historical development of computer started with Hollerith punched card of 1880,Goerge Alken calculator and Charles Babbage’ creation of the difference engine. The computer can be defined as a tool or device which is able to accept facts (data) and figure in a prescribed form, apply prescribed processes to data and supply result of the processes in a specified format as a meaningful information. There are also different types of information depending on the make or type of their functions. The revolution in technology to the computer complements or in the other hand, substitute for ten elements which are: - paper, personal memos, charts, reports, calculators, terminals letter. Hartzell (2006) defines computer as an electronic machine for processing information automatically and very quickly. The important of computers is the ability to handle vast amount of information and to do other processes with accuracy and speed which cannot be manually undertaken have been recognized and appreciated by financial institutions, hence the trend in the computerized of banking operations. Tanembaum (2010) sees computer as a machine that can solve problems for people by carrying out instructions given to it. The American Accounting Association defines accounting as the process of identifying, measuring and communicating economic information to permit informed judgement and decision by users of the information. Accounting is also the establishment, maintenance, collection and analysis of financial position of an organization and any changes that have occurred or may occur overtime. Omolehinwe (2009) defines accounting as the collection and recording of financial data about an organization whether in the private or in the public sector and analyzing the data so collected to suit the decision that needs to be taken and reporting the relevant information in a summary form to the user in a form that is meaningful to him or her. Chionye (2003) defines accounting system as the art of identifying, recording, classifying measuring and interpreting in a significant manner the financial transaction of an organization for decision making. Summarizing from time to time the information contained in the record, for its significant presentation and interpretation to interested parties as an aid to decision making. Accounting system is also defined as a consistent way of organizing, recording, summarizing and reporting financial transactions. Computerization is the installation of computers as a part of a process of automation.Banking in Nigeria has witness impressive development in recent time particularly within the last decade in time with growth in economic activities and complexities, banking service have expanded significantly in size and variety due to increased by computerization of banks.1.2 STATEMENT OF THE PROBLEM In spite of the benefit of computer to banking industry and business generally some problem are still left unsolved and new ones have been credited by the use of computer itself problems like; The use of computer to keep accounting records.Another problem is the displacement of labour hands in the accounting department and its union implication and the problem of low turnover (volume of operation) and profitability in banks.1.3 OBJECTIVES OF THE STUDY. The objectives of this study are:-  To determine he relationship between the application of the manual accounting system and the computerized accounting system in the banking system.  To find out, whether the effect of computerized accounting system enhances higher turnover (volume of operation) and profitability in banks.  To examine the impact of using computer to keep accounting records.1.4 RESEARCH QUESTIONS. To be able to achieve the above purposes, some questions would be asked which help the researcher to gather the necessary information needed, they are:  Are there any relationship between the manual accounting system and the computerised accounting system in the banking industry?  Also can computerized accounting system enhance high turnover and profitability in banks? Finally, What are the effects of using computers to keep accounting records?1.5 HYPOTHESES OF THE STUDY In order to ensure the verification and validation of the primary data gathered through administration of questionnaires. A research hypothesis is formed comprising the null hypothesis (Ho) and the alternative hypothesis (Hi). Hypothesis One Ho: - There is no relationship between the application of the Computer and manual system in the accounting system of banking industry Hi: - There is a relationship between the application of the Computer and manual system in the accounting system of the banking industry. Hypothesis Two Ho:- The impact of computerized accounting system does not enhance higher turnover and profitability in banks. Hi:- The impact of computerized accounting system enhances higher turnover and profitability in banks. Hypothesis Three Ho:- There is no effect of using computer to keep accounting records. Hi:- There is an effect of using computer to keep accountingrecords.1.6 SIGNIFICANCE OF THE STUDY. Most banks have growth and continuity as part of their objective, and such objectives are best realized by an efficient management, as well as effective computerized accounting system. This has made it possible for banks to gain inherent advantage while minimizing risks involved in their daily operations. This research project will therefore be of immense advantage or benefit to the management of banks, computers and other business organization using computerized accounting system. Hence, the theories and concept contained therein can be infused into their management system. This research will also contribute to enhance efficiency in the following ways; a) Speedy and accurate decision making through the use of computerized accounting system. b) Improvement in the delivery and quality service. c) The banks profitability will be improve.Firstly, in the realm of academic, the project will be very useful to wide audience as it applies to courses in accountancy, banking and finance as well as executive development courses, management seminars and supervisory workshop conducted in colleges and universities.1.7 SCOPE AND LIMITATIONS OF THE STUDY.The scope of the study is restricted to examining the effect of computerized accounting system on the performance of banking industries such as, Diamond bank plc, Eco bank plc and First bank plc all in Enugu metropolics of Enugu state.1.8 DEFINITION OF TERMS AUDIT TRIAL:- a technique that made it possible to retrace processing of data in all other to charge, add or delete records in a file. BLOCKING:- the storage of more than one term in a record. COMPLIER:- a programming system applied by a manufacturer to convert a programme written in an automatic language into machine language. EXPERT SYSTEM:- A computer system which embodies some of the experienced and specialized knowledge of an expert. it enables a non-expert to achieve comparable performance to an extent in the field.APPLICATION PACKAGES:- These are computer programmes written for the purpose of carrying out specific task for individuals or organizations with similar or related needs.