COMPUTERIZED ACCOUNTING SYSTEMS AND FINANCIAL PERFORMANCE OF ORGANIZATIONS: A CASE STUDY OF SELECTED MICRO FINANCE BANKS IN RIVERS STATE
Abstract
The introduction of Computer Accounting System (CAS) is expected to lead to effective accounting operations for the organizations. The study examined the effect of a computerized accounting system (CAS) on the organizational performance of Micro finance banks in Port Harcourt in Port-Harcourt, Nigeria. The study adopts the correlational research design. The design enabled the researcher to obtain information from respondents about practices, situations or views via questionnaires. The population comprised of 326 employees of the 8 micro finance banks operating in Port Harcourt, Rivers state. The unit of focus was operational and the IT/ICT Department of the respective banks. The study is based on primary data obtained from a structured questionnaire administered to respondents. The reliability of the instrument was measured using Cronbach’s alpha. The data were analyzed using descriptive and inferential statistics. The hypotheses were tested using the Spearman Rank Order Correlation. The results showed a positive significant influence of accounting software usage on accountability, productivity, and cost control in Micro finance banks, it revoked significant relationship between dimension of computerized accounting system and the measure of organizational performance. The study concluded that automated data-processing, internal control and automated reporting components have the capacity to significantly advance the performance of micro finance banks. Based on this the study recommends the use of electronic mediums and other alternative channels (such as cloud computing frameworks) for storing financial information to ensure the safeguarding of such information and prevent data loss. The deployment of CAS in functional departments to boost the efficiency of service delivery in addition to linkage to the overall organizational ICT framework can enable the speedy generation of internal and external financial reports.
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