ACCOUNTING IMPLICATION OF COMPUTER INSTALLATION (A CASE STUDY OF UNITED BANK FOR AFRICA (UBA PLC)

ABSTRACT

The contribution of the banking industry to the economic development of any nation cannot be over-emphasized. Computers have also contributed greatly to ease the functions performed by this industries in trying to meet its economic obligations to the nation. However, the computer equipment together with the programs and data files may also be subject to abuse by means of physical attack or distraction. Physical action and extortion become a real possibility which must be guarded against because of so much  of the bank’s information’s especially in regards to financial matters and its ability to function as a service organisation is bound up with the computer.This research work evidently reviewed some of the accounting implication of computer installation. Despite the huge success recorded by the computer, it still remains one of the easiest and Fastest means to defraud an organisations. Funds. This research work has also reviewed that computer make emblesslement easier to accomplish and harder to detect. Dishonest users, Advanced fraudster (419) has been using the sophistication and speed of computers to their advantage in the planning and execution of computer aided fraud. Hence, the issue of computer security in our banks should be given total commitment by the management of United Bank For Africa (UBA).

 CHAPTER ONE

 INTRODUCTION

Computer has been over the years imposing a serious threat in the accounting system of organizations. In Nigeria of today, computers and computer technology are increasing becoming part of daily lives, especially now that the present government has general encouraged its inclusion in the school curriculum, even right from the primary education level. With the government’s hands stretched, every other person would appear to be finding ways on how to embrace knowledge in this discipline, no matter how little. These individual efforts by people, even though sponsored in some instances by organizations some of them work for, seem to have been yielding some fruitful results as it is now almost common – place to find people decoding series of computer – oriented technical jargons lither to alien to them.

Advancements and interests in computing have necessitated some people, who were not previously science – oriented, to go for more technical course on computer operation, computer programming, world – processing and spread sheet, key – purchasing, system analysis, systems design management, structured programming in series of languages; thereby making them more technically sound and useful to themselves on the part, and to the organizations they serve on the other. In industry as well, most establishments have their key operations fully computerized while a host of others patronize computer Bureaux for the installation and implication of some of their services like payroll, sales ledger, Accounts Receivable, General ledger, stock control, personnel Records, Inventory control, and so on.

To a large extent, therefore, the result of all these is that increased awareness has been created about computers and that the technology stands for almost through out the nation. On the other hands computer are just tools used in getting information record and retrieved the fastest way possible for subsequent use by the management through the use of electronic data processing with the three main concepts being:

 Input

Process and

Out put

As a result of this development, there seem to be an explosion in the acquisition and use of computers in Nigeria, particularly among banks. It is now in vogue for bank to rely on the availability and use of computer facilities as an advertising medium each for advertising the quality of services rendered by the bank.