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Product Category: Projects
Product Code: 00007428
No of Pages: 48
No of Chapters: 5
File Format: Microsoft Word
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This study was embarked on to determine the impact of accounting financial information system on the financial performance of commercial bank in Nigeria with a particular focus on First Bank Nigeria Plc. Our major objectives were to find out impact of accounting financial information systems on the financial performance of commercial banks in Nigeria, with a specific focus on First Bank Nigeria Plc. The researcher adopted a descriptive method of survey; the sample method use was sampling method. Both primary and secondary sources of data were used to obtain relevant information. The company has a total population of 23 staffs which is draw from the total population using Yaro Yamani formula. In my findings, it claims that quality accounting information in terms of relevance to users contributes significantly to the financial performance of bank both financially and in terms of service delivery. It is recommended that more effort should be directed towards the production of good quality accounting information in all the commercial banks in Nigeria in order to improve financial performance. Such information should be free from systematic or deliberate bias, material or significant error, complete and not fraudulent with high levels of predictive and confirmatory value. Accounting practices that tend to over or understate, or even delay the reporting process should also be avoided.
TABLE OF CONTENTS
Table
of Contents………...…………………………………………………………………..vii
Abstract……………………………………………………………………………………….ix
1.3 Aim And Objectives Of The Study3
1.6 Significance Of The Study5
1.7 Scope And Limitation Of The Study5
1.9 Organization Of The Study8
CHAPTER TWO: REVIEW OF RELATED
LITERATURE
2.2 Accounting Information System13
2.3 Types Of Accounting Information Systems15
2.4 Importance Of Accounting Information Systems17
2.6 Value Relevance Of Accounting Information System20
2.7 Achieving Efficient Accounting Information System21
2.9 Characteristics Of Accounting Information22
CHAPTER THREE: RESEARCH METHODOLOGY
3.5 Method Of Data Collection26
CHAPTER FOUR: DATA PRESENTATION, INTERPRETATION AND ANALYSIS
4.2 Demographic Of The Respondent27
4.3 Responses Presentation And Analysis29
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
Appendix37
Similar to other information systems, the accounting
information system (AIS) plays an important role in the daily operations and
management of corporate firms. AIS is deemed as a supporting information system
employed to carry out managerial tasks including planning, organizing,
controlling and decision-making, so that existing resources can be better
exploited (Okour, 2016). Dalayeen and Al-Dalaien(2018) delineated AIS as a
formal system that identifies, measures, gathers, analyzes, prepares,
interprets and communicates the accounting information of a certain organization
to be presented to a specific audience. AIS denotes a variety of sources
(individuals and equipment) that are designated to gather a set of financial
data and subsequently communicate it to certain decision makers at a certain
time period (“Bodnar & Hoopwood.,”
2010).Based on past studies, AIS is expected to be linked to the financial
condition and results of companies.
Financial performance denotes the financial standing,
capability and readiness of a certain company to fulfill its long-term
financial duties and obligations in providing services in the near future.
Generally, financial performance entails the extent to which financial
objectives have been achieved (S. Davis & Albright, 2004). AIS provides the
highly needed financial and accounting data that enables financial managers to
carry out evaluations concerning a company’s past business performance as well
as to map future plans. AIS mainly generates financial reports that are needed
at various management levels and by stakeholders alike. Indeed, AIS generates
outcomes that are significant for decision-making at the operational, tactical
and strategic levels of the company. In particular, users will need the
financial data and other relevant information according to the level of detail
and analysis that they require (Mahoney & Roberts, 2007; Ganyam &
Ivungu, 2019).
Hence, AIS works efficiently only when companies have
regulated and adjusted their computerized internal control mechanism system
which is a crucial component in any establishment. Only with such regulations
and adjustments can the reliability of the companies’ financial information
processing be ensured and their control measures improved. AIS facilitates
managers in comprehending their tasks and lessening uncertainties prior to
decision-making (Mahoney & Roberts, 2007). An effective internal control
system is the foundation of an efficient management and ultimately of great
organizational performance (Badara, 2015). Rapid changes in the business milieu
had led to the emergence of numerous challenges faced by many companies,
especially following the current financial crises and the downfall of various
prominent organizations caused by poor internal control systems (Hamed Arad
& Arad, 2010). This paper hence aims to present a comprehensive analysis of
the influence of AIS on the financial performance of companies in Iraq, as
moderated by internal control. In particular, this paper endeavors to review
past empirical studies on AIS and determine the research gap concerning the
relationship between AIS and financial performance in order to provide a
foundational ground for future empirical studies.
Every economic agent needs reliable information for its
success, survival and to relevant in this complex and ever dynamic business
world (Amold & Lange, 2003; Benston, 2007; Barrlow, Goldery & Kim,
2003; Agha, 2014). Information is an ingredient that guides managers to action
of the organization and this information is provided by accounting information
system (AIS) via, the knowledgeable workers. Indeed, Accounting Information
System (AIS) is seen as the live wire and blood line of any economic agent as
it synergizes the performance of an organization in a view to maximize the
wealth of the stakeholders. Romney et al., (1997) asserted that AIS “is in fact
a system that is designed to make the accomplishment of accounting function
viable via procedures of records and transactions using appropriate gear to
provide users with the statistics they want to devise, control, and operate
their organizations”. It complements the satisfactory of accounting records and
promotes transferring performance among businesses‟ departments and among
organizations‟ branches and their unique customers or stakeholder
organizations. Battacharga, Desai Venkataraman (2009) asserted that AIS “is an
information system that is designed to make the accomplishment of accounting
function possible through processes of data and transactions using appropriate
tools to provide users with the statistics they need to plan, control, and
perform their organizations”.
It complements the exceptional of accounting information and promotes shifting efficiency among organizations‟ departments and among firms‟ branches and their unique users or stakeholder companies (Benston, 2007; Belkani, 2002; Chung, Chen, Su. & Chang, 2007; Beistend, 2009; Beyer, Cohen, Iys, & Walther, 2010).
There has been an increasing trend of financial crimes in recent years in the form of inter-departmental financial anomalies, conspiracies amongst right-hand and senior staff, control breaches, and many others. Researchers have indicated that the follow-up units established by company managements have mostly failed to crack down on such fraudulent practices as the controls that have been put in place were not effective enough to mitigate the crimes committed by the employees in the company (Al-Tameemi & Alshawi, 2014). To address this problem, the researchers used an effective internal control system with the effectiveness of the accounting information system because of their significant role in addressing the problem of poor financial performance in industrial companies(Jacob & Oluwafemi Philip, 2016;Akram, Jarah, Binti & Iskandar, 2019).
1.3 AIM AND OBJECTIVES OF THE STUDY
The aim of this study is to
investigate and assess the impact of accounting financial information systems
on the financial performance of commercial banks in Nigeria, with a particular
focus on First Bank Nigeria Plc. The objectives of your study are as follows:
1.
To assess the impact of
accounting financial information systems on the financial performance of
commercial banks in Nigeria, with a specific focus on First Bank Nigeria Plc.
2.
To determine the relationship
between accounting information generated from these systems and two key
indicators of financial performance, namely Return on Capital Employed (ROCE)
and Earnings per Share (EPS).
3. To analyze how the quality of accounting information affects the financial performance of First Bank Nigeria Plc.
1.
How do various information
systems within First Bank Nigeria Plc contribute to the collection of financial
data for decision-making and reporting?
2.
What factors determine the
quality of accounting information generated by the accounting financial
information systems in place at First Bank Nigeria Plc?
3. How does the quality of accounting information generated by these systems impact the financial performance of First Bank Nigeria Plc, specifically in terms of Return on Capital Employed (ROCE) and Earnings per Share (EPS)?
For the successful completion of the
study, the following research hypotheses were formulated by the researcher;
Hypothesis one:
H0: There is no significant relationship between the various
information systems within First Bank Nigeria Plc and the collection of
financial data for decision-making and reporting.
H1: There is a significant relationship between the
various information systems within First Bank Nigeria Plc and the collection of
financial data for decision-making and reporting.
Hypothesis two:
H0: The quality of accounting information generated by
the accounting financial information systems in place at First Bank Nigeria Plc
is not influenced by any specific factors.
H1: The quality of accounting information generated by
the accounting financial information systems in place at First Bank Nigeria Plc
is influenced by specific factors.
Hypothesis three:
H0: The quality of accounting information generated by
the accounting financial information systems has no impact on the financial
performance of First Bank Nigeria Plc, as measured by ROCE and EPS.
H1: The quality of accounting information generated by the accounting financial information systems has an impact on the financial performance of First Bank Nigeria Plc, as measured by ROCE and EPS.
This study aims to examine the impact of modern technology on the performance of retail commercial banking, with a specific focus on the influence of Accounting Information Systems (AIS) on frontline banking personnel. The research will highlight how AIS has enhanced the speed and efficiency of banking operations. Furthermore, the project seeks to raise awareness about the significance of accounting information and its beneficial effects on customer service, ultimately enhancing the overall transaction process.
1.7 SCOPE AND LIMITATION OF THE STUDY
The study's focus encompasses assessing the influence of
an Accounting Financial Information System on the financial performance of a
commercial bank in Nigeria, with First Bank serving as a case study. However,
the research has faced certain constraints that have restricted its scope:
a) Availability of Research Material: The
researcher has encountered a limitation in the availability of research
materials, which has hindered the depth of the study.
b) Time Constraints: The allocated time frame for
the study has not allowed for extensive coverage due to the researcher's need
to balance it with other academic commitments and examinations.
c) Organizational Privacy: Restricted access to the selected auditing firm has posed challenges in obtaining all the necessary and pertinent information regarding their activities.
Automated Teller Machine (ATM): It is an automatic
machine that recognizes a card linked
with an account
number to dispense
cash.
Bank: Financial institution where money and other
valuable goods are kept by concerned owners
for safe custody.
Cheque: The conditional order in writing by which you
instruct your bank to pay on demand a sum from your current account to a
named person or bearer.
Customers: It refers
to individuals who have the capacity to deal with banks.
Computer: Is a data processing device that can perform substantial computation, including numerous
arithmetic or logic operations without
intervention by a human operator
during the processing.
Electronic Fund Transfer (EFT): It is the development of banking
and payment systems which transfer
funds electronically instead of using cash or paper documents such as cheque.
E-Banking: It can be defined as automated delivery of new and
traditional banking practices and services directly to customers through electronic, integrative communications channel.
E-Commerce: which means “Electronic Commerce?” is the buying
and selling of goods and services on
the internet, especially the World Wide Web. This term is also used as interchangeably with E-business.
Global System for Mobile
Communication (GSM): This is a digital
cellular phone technology
and it is the most popular standard for mobile phones in the world.
Information and Communication
Technology (ICT): This is defined as an umbrella term that includes
any communication device or application, encompassing: cellular phones, computer, network hardware and
software, satellite systems and so
on as well as the various services and applications associated with them,
such as distance
learning and video conferencing.
Information Technology (IT): This is that which comprises of
computers, satellite communications,
videotext, network, cable television, software and automated office equipments, electronic mail (e-mail).
Internet Service Provider (ISP): It refers to a company that sells
access to the internet, allowing
computer users to send electronic mail (e-mail) and browse the World Wide Web (WWW) among other tasks.
M-Banking is also known as ‘Mobile banking’ is a term used
for performing balance checks,
payments, account transactions, viewing recent transactions etc via a mobile device
such as a mobile phone.
Online Processing: It enables
the users to input data to the computer receive
back result almost
instantaneously.
Re-Engineering: Is the fundamental rethinking and redesign of an entire
business system or dramatic improvement in quality, speed and services.
Technology: Is referred to the scientific study and use of applied sciences otherwise the application of this to practical tasks in industry.
Services: Is the benefit
derived by banks customer as a result
of the over the counter
and other transactions.
Tele-communication: Is referred to communication through technology devices such as radio, cables, television, telephones, fax machines etc.
This research work is organized in five chapters,
for easy understanding, as follows
Chapter one is concern
with the introduction, which consist of the (overview, of the study), historical
background, statement of problem, objectives
of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the
theoretical framework on which the study is based, thus the review
of related literature. Chapter three deals on the research design and
methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation
of finding. Chapter five gives
summary, conclusion, and recommendations made of the study.
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