Although the public and private sector in both developing and developed economies are arguably equally affected by the advent of the Computerized Accounting Report Sys­tems (CARS), evidence on state-owned enterprises (SOEs) in developing countries is limited. Using a case study of Shop and Save Supermarket, Ikot Ekpene Road, Uyo. This study explores the conception, motivation, assessment, benefits, and challenges surrounding CARS in developing countries. The study shows that external (e.g. innovation) and internal (e.g. volume of data) factors, as well as potential benefits (e.g. accuracy) of CARS, contribute to its adoption. The study also observes that integration of the CARS with other existing information systems is virtually nonexistent to allow sharing of financial information on a real-time basis. The implications of these findings are discussed in relation to theory, practice, and policy, with the aim of con­tributing towards formalizing CARS in developing economies.



Title page

Declaration        -    -    -    -    -    -    -    i

Certification        -    -    -    -    -    -    -    ii

Dedication        -    -    -    -    -    -    -    iii

Acknowledgement     -    -    -    -    -    -    -    iv

Abstract             -    -    -    -    -    -    -    v

Table of Content    -    -    -    -    -    -    -    vi

Chapter One

1.0        Introduction     -    -    -    -    -    -    1

1.1        Background of the Study    -    -    -    -    1

1.2        Statement of the Problem    -    -    -    3

1.3        Purpose of the Study    -    -    -    -    4

1.4        Objective of the Study    -    -    -    -    4

1.5        Research Question        -    -    -    -    4

1.6        Scope of the Study        -    -    -    -    5

1.6.1    Geographical Scope        -    -    -    -    5

1.6.2    Content/Variable Scope    -    -    -    -    5

1.6.3    Time Scope            -    -    -    -    5

1.7        Significance of the Study    -    -    -    -    5

Chapter Two

2.0        Introduction        -    -    -    -    -    7

2.1        Literature Review    -    -    -    -    -    7

2.2        Theoretical Framework    -    -    -    -    12

2.4        Concept of Computerized Accounting Report System    14        

2.5        Comparison between Manual and Computerized Accounting  -    -    -    -    19

2.6        Advantages of Computerized Accounting Reporting System -    22 

2.7        Limitations of Computerized Accounting Report System         -    -    -    -    -    -    26

2.8        Quality of Financial Reports     -    -    -    29

2.9        The Influence of Computerized Accounting Report System on Financial Reporting. -    -    -    32

2.10        The Appropriate Strategies of Improving Financial Reporting         -    -    -    -    -    34

2.11        Sourcing of Accounting Software     -    -    34

2.12        Generic Considerations before Sourcing Accounting Software    -    -    -    -    38

2.13        Challenges of CARS Application to Public Companies


Chapter Three

3.1        Introduction     -    -    -    -    -    -    44

3.2        Study Design    -    -    -    -    -    -    44

3.3        Study Population     -    -    -    -    -    45

3.4        Sample Size and Selection Method -    -    45

3.5        Data Collection Tools/Methods    -    -    -    46

3.6        Data Management     -    -    -    -    -    47

 3.7        Limitation of the Study     -    -    -    -    47

3.8        De-limitation of the Study     -    -    -    48

Chapter Four

4.0        Presentation, Interpretation and Discussion of  49        Findings

4.1        Introduction    -    -    -    -    -    -    49

4.2        Characteristics of Respondents -    -    -    49

4.3        Accounting System at Shop and Save, Uyo     52

4.4        Benefits of Computerized Accounting Report     54        System

4.5        The Quality Attributes of Financial Report     55        Generated

4.6        The Appropriate Strategies of Improving Financial         Reporting        -    -    -    -    -    -    59

Chapter Five

5.1        Introduction    -    -    -    -    -    -    61

5.2        Summary        -    -    -    -    -    -    61

5.3        Conclusion    -    -    -    -    -    -    64

5.4        Recommendations    -    -    -    -    -    64

5.5        Area for Further Studies -    -    -    -    66



1.0         INTRODUCTION

Accounting has long been an organizational function especially with the advent of non owner managers who need to update what is happening in the organization. Maintaining, preparation and presentation of accounts is crucial for business success as well as organization for effective decision making whether it is a nonprofit making organization or profit making because they have to report to the stakeholders of the organization through financial reports. However there was inefficient financial reporting due to loss of records, delay in preparation of records and its associated problems. This study focused on establishing the influence of computerized accounting report systems on financial reporting.

1.1     Background

In Uganda, before the introduction of computerized system of accounting, the manual systems were inaccurate and inconsistent for many organization needs especially reporting of financial information. This is because the system was associated with errors since data was collected, analysed, journalized and a trial balance and balance sheet prepared (Meigs, 1986). Though most organization have not being doing well in financial reporting and accounting records, reports from a comparative survey conducted by Indira (2008) Uganda inclusive indicate that firms have greatly improved on the ways of reporting their financial statements. Computerized accounting report system is defined as the application of the computer based software used to input, process, store, and output accounting information. This application is in support of the ever advancing technology that enables firms to use computer programs to perform tasks that were previously done manually. A computerized accounting report system therefore involves the computerization of accounting information systems which is established in order to facilitate decision making. These are associated with a numbers of benefits like speed of carrying out routine transactions, timeliness, quick analysis, accuracy and reporting.

However many organizations are not enjoying the benefit of computerization of accounting system as they have continued to be inaccurate due to increased number of interruptions due to system failure or breakdown and untimeliness with its reliability left in question(as per European Union Audit Report by National Audit Organization 6 may 2003) According to Pandey (1998), Financial reporting to the company’s stakeholders for instance the government, public, donors is a statutory obligation for every organization. Saleemi (1981) defined financial reporting as the process of supplying financial information which is reliable, accurate and complete to the various stakeholders for making economic decisions. This is always inform of financial statements such as statement of comprehensive income, statement of financial position and cash flow statement and other financial annually reports which provide an overview of the company’s current financial strength.

1.2 Statement of the Problem

According to the Accountant of Shop and Save, Ikot Ekpene Road, Uyo. Despite the existence of a well established computerized accounting report system instances of delay, inaccurate reporting, misposting and wrong balances have continued to occur. Given that computerized accounting reporting systems are put in place, such instances are not expected to occur and hence the researcher is therefore prompted to carry out an investigation on the effectiveness of the system used by National Water.

1.3     Purpose of the Study

To find out the influences of computerized accounting report system on financial reporting.

1.4 Objectives of the Study

i.     To establish the accounting systems being used.

ii.     To establish the benefits of computerized accounting     system     being used.

iii.     To establish the appropriate strategies for improving     computerized accounting system

1.5 Research Questions

i.     What accounting system is being used?

ii.     What are the benefits of computerized accounting system     being used?

iii.     What appropriate strategies can the firm use to improve     on     timely financial reporting?

1.6 Scope of the Study

1.6.1 Geographical Scope

The research was carried out in Shop and Save, Ikot Ekpene Road, Uyo. This was due to availability and convinces of obtaining data about the topic of the study.

1.6.2 Content /Variable Scope

The research was based on two variables these are computerized accounting report systems which comprise of definitions, components of computerized accounting software and benefits and limitation of computerized system and financial reporting which also comprises of definitions of financial reports, benefits and effectiveness of accounting system used at Shop and save.

1.6.3 Time Scope

The study was based on financial reports and accounting system for the period covering 2009-2014 due to the limited time required completing the research.

1.7 Significance of the Study

i.     The study will enable management to understand the     significance of preparing quality and reliable financial     reports.

ii.     The study will point out weakness in the accounting     system     which management needs to address.

iii.     Other researchers will use the report as literature review     in     order to improve on their research topic in another     period.



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