ABSTRACT
The world has become a global village and information
polished society. As a result, a relative level of information communication
technology advancement has become vital factor in competitive advantage of
nations in internationally political, social and economic realms. Accounting
practice in Nigeria has over the years worked more advanced and government is
not unaware of the correlation between economic growth and information
development as much as it knows that the rural sector of the economy plays a
very vital role for the balanced growth of the country
So, being
facilitators of economic growth, communication and information technology must
also be implemented in a non discriminatory fashion particularly in accounting
practices.
Information
communication technology deals with the creation, manipulation, storage and
communication of information, chiefly telecommunication and electronics.
The title of
this research study is the impact of information communication technology on
accounting practices in Nigeria. Information communication technology is just
all forms of technology applied to processing, storage and transmitting of
information through electronic devices
As a way of
ensuring logical understanding of this study the study is arranged in chapters
up to chapter five. In chapter one, critical analysis was made to serve as a
pathway into the study, purpose of the study, significance of the study,
statement of problems, formulation of hypothesis, limitation of the study and
definitions of terms end it.
Chapter two
(2) of this work is devoted to literature review, to support the theoretical
framework of this study this includes the works of other individuals and
corporate bodies.
Chapter three
(3) deals with the hypothesis of the study sampling techniques, data collection
methods research design, and data analyses techniques.
Chapter four
(4) in chapter form, tables and graphs are used to present and analyze date
Chapter five
(5) encompasses the summary of findings, conclusion and recommendation.
TABLE OF CONTENTS
Title page
————————————————-
i
Approval page ——————————————— ——- ii
Dedication ——————————————————— iii
Acknowledgement ———————————————– iv
List of tables and graphics ————————————– v
Abstract ———————————————————– viii
Table of contents ———————————————— x
CHAPTER ONE
1.0 Introduction
—————————————- 1
1.1 Statement of
problems —————————-
4
1.2 Purpose of the
study —————————— 4
1.3 Significance of
the study ————————–
5
1.4 Research
questions ——————————–
5
1.5 Formulation of
hypothesis ————————
6
1.6 Scope and
limitations of the study ————-
7
1.7 Definitions of
terms——————————–
9
CHAPTER TWO
2.0 Literature
review ———————————– – 13
The development of accounting practices ——- 14
The History of information communication technology— 16
The significance of information communication
technology ————————————————— 19
Information and communication technology in
developing countries ——————————————– 23
Information communication technology in
Corporate organization —————————————– 25
The nature and scope of accounting Practices ————- 27
The nature and scope of information and
communication technology ———————————- 32
Information and communication technology and
accounting practice in Nigeria ——————————- 35
Contribution of information and communication
technology
Generally —————————————- 38
Summary ————————————————— 40
CHAPTER THREE
3.0 Research
methodology ——————————– 41
3.1 Research design
and methodology —————— 41
3.2 Population and
sample size ————————— 41
3.3 Nature and
source of data —————————- 42
3.4 Data collection
and method —————————- 43
3.5 Data Analysis
and Techniques ————————-
44
CHAPTER FOUR
4.0 Presentation
and analysis of data ———————
46
4.1 Presentation
and analysis of finding ——————
46
CHAPTER FIVE
Summary of findings conclusion and recommendation — 56
5.1 Summary of
findings —————————————— 56
Conclusion —————————————————— 57
Recommendation ———————————————- 58
Bibliography —————————————————- 59
CHAPTER ONE
1.0 INTRODUCTION
Information
has been a vital tool in decision making process. Since the dawn of
civilization, people have acquired information to aid them in their personal
battle to survive as they attempt to manage their businesses. The increasing
complexity of the society especially, as is manifested in social, political and
economic institutions, has necessitated the more, man’s quest for more relevant
information on a more regular basis. The processing of facts that can be traced
back to thousand years ago.
Every
financial manager has been concerned with the processing of facts or data,
about his businesses operation so as to provide the most accurate and timely
information to management. In order to provide this accurate and timely
information to management, financial manager continuously sought more improved
means of processing data. With the advent of industrial revolution, the need
for faster, more efficient and also other methods of processing data became
apparent. To satisfy these needs, various types of automated devices were
introduced into the business world. Of these, electric computer is the most
efficient and foremost as well as the fastest, and mot sophisticated device
built by man
Charles
Babbage, an English Mathematician, designed the first mechanical calculation
machines that incorporated the concept of input, Processing, and output in its
design. The machines were the difference and analytical engines.
The difference
engine was originally designed for working out tables of logarithm, it was
based on the concept of difference of polynomials, the more complex machine, it
was a general ‘purpose information processing machine, which has the input,
output and processing units.
The analytical
engine closely resembled modern computer in the following ways.
(a) One part of the
machine known as the mill was dedicated to calculations (similar to the
arithmetic unit of the modern computer central processing unit CPU)
(b) It had a part
that ensures that all operations were carried out in correct control unit of
the modern (CPU)
(c) It had a series
of cogs that ensured that numbers were not presented to the mill until they
were required for calculation this is equivalent to the storage unit in the
present day computers.
(d) Babbage’s
engine had a part that could be identified as input and output. A computer may
be defined as an electronic machine that accepts data as input, processes the
data and information as output. It also stores data and information which can
be retrieved in the future.
The use of computers is becoming diverse and wide-spread in
all sectors of our society. At schools, homes hospitals, offices, banks etc.
Computers are used for one purpose or the other. Information and communication
technology (ICT) which is synonymous with computerization is that technology
which aids activates such as creation, storage, processing and communication of
information.
Accounting is an art of recording, identifying, classifying,
summarizing, in a systematic manner and in terms of money, transactions and
events which are in part list of financial character and communicating the
results to the users.
This project
therefore is to x-ray or highlight the impact of this information communication
technology on accounting practices in Nigeria.
1.1 STATEMENT OF PROBLEMS
The key issue
of this research is to know the extent to which information and communication
technology (ICT) affects accounting practices either positively or negatively.
Accounting
deals with source documents over the years, the challenge of the accounting
profession has always centered on how to provide timely and accurate
information to meet the needs of the end users of the accounting information.
As the
organization grows in size and volume in its transactions, the challenge of
storage, retrieval and communication of accounting information becomes so
manifest; it becomes self-evident that the manual method of accounting
information system cannot address the aforementioned problems. The issue is to
find out whether or not the introduction of information and communication
technology offers the more credible alternative method for effective accounting
practice.
PURPOSE OF THE STUDY
In prime purpose of this study is to carry out a research in
order to know the impacts of information and communication technology on
accounting practices in Nigeria.
1.3 SIGNIFICANCE OF
THE STUDY
This research
is important because it would be beneficial to all organizations that are
computerized in their activities. This is because accounting practices are done
in every organization that is computerized and this organization will find it
helpful to know whether information and communication technology affects their
accounting practices positively or negatively.
RESEARCH QUESTIONS
The research questions considered in this work are
enumerated below.
(a) How do you
assess the development of accounting information system within the 20th
country?
(b) What are the
contributions of information and communication technology in dealing with the
accounting problems of storage, retrieval and communication of accounting
information?
© What are the
impacts of information and communication technology on accounting practices in
Nigeria?
(d) In what ways
has information and communication technology contributed to the generation of
timely and accurate accounting in formation to the users?
(e) In what ways
has information and communication technology contributed in dealing with the
problems of increasing volume of information?
(f) How can
accounting practitioners cope with the growth in information and communication
technology as it affects accounting practices?
FORMULATION OF HYPOTHESIS
A hypothesis is simply a stated claim or assumption about a
population or its characteristics which on the bases of experimental findings
may be true and accepted or not true and rejected.
In the light
of the above, and within the limit of this study, the null hypothesis will be
denoted with Ho, while the alternative hypothesis will be denoted with Hi and
would read as follows.
(1) HO: Information
and communication technology has not greatly improved accounting practices in
Nigeria.
HI: Information and
communication technology has greatly improved accounting practices in Nigeria.
(2) H0: Information
and communication Technology did not make the storage, retrieval and
communication of accounting information timely and accurate.
HI: information and communication technology did make the
storage, retrieval and communication of accounting information faster and
efficient.
(3) HO: Information
and communication technology did not in any way increase the volume of
accounting information that can be stored at any given time.
HI: Information and communication technology has greatly
increased the volume of accounting information that can be stored at any given
time.
1.6 SCOPE AND
LIMITATIONS OF THE STUDY
THE SCOPE OF THE STUDY
The scope of
this project work will be limited only to Nigeria, that is, the research work
will not be extended to other countries of the world.