Effectiveness of Accounting System and Its Impact on the Performance of Nigerian Breweries Plc.
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Chapter One of Effectiveness of Accounting System and Its Impact on the Performance of Nigerian Breweries Plc.
Background To The Study
Accounting system is a system designed to record accounting transaction involving a business or event taking into cognizance the policies of the firm. According to Hartzell (2006) accounting system is the process of organizing, summarizing, recording and reporting financial transactions with the view of providing financial information to management to facilitate policy decisions, budgeting, preparing financial report and other financial approvals. Accounting system is viewed as formal systems which identify measure, accumulate, analyze, prepare, interpret and communicate accounting information of a business organization or institution.
Ama (2004). Accounting system is regulated by the organizations policies, rules, regulations, methods, procedures and techniques.
Accounting systems constitute the mechanism adopted for gathering and communicating the financial performance and position of the organization. The two major types of Accounting System include Manual Accounting system and Computerized Accounting System. The manual system involves the use of hand for the posting of accounting information into the various books of accounts of the firm. The computerized system involves the use of specialized machines as computer in gathering and processing of accounting information. It is also referred to as Electronic Data Processing (EDP) Accounting System. The applications of computer in accounting system involves the use of Word processor, Data base and Spread sheet
Statement of the Problem
The accounting system is besetted by some deficiencies. For example the computerized accounting system is exposed to the risk of data theft and loss either as result of power failure or from hackers. It is also exposed to fraud by those who can secretly have access to the system. Customer information could be tampered with in the process thereby leading to security breach. The management could be deterred in some cases where there is loss of data in executing legitimate projects and decision making. According to Vermaat and Shelly (2011) computers related problems include health risks, the violation of privacy, public safety, the impact on the labor force, and the impact on the environment. Therefore the problem confronting the research is to appraise the Effectiveness of accounting system and its impact on the performance of Nigerian breweries plc.
Objectives of the Study
To determine the Effectiveness of accounting system and its impact on the performance of Nigerian breweries plc.
Accounting system is a system designed to record accounting transaction involving a business or event taking into cognizance the policies of the firm. According to Hartzell (2006) accounting system is the process of organizing, summarizing, recording and reporting financial transactions with the view of providing financial information to management to facilitate policy decisions, budgeting, preparing financial report and other financial approvals. Accounting system is viewed as formal systems which identify measure, accumulate, analyze, prepare, interpret and communicate accounting information of a business organization or institution.
Ama (2004). Accounting system is regulated by the organizations policies, rules, regulations, methods, procedures and techniques.
Research Questions
What is Accounting system
What is the Effectiveness of accounting system and its impact on the performance of Nigerian breweries plc
Research Hypothesis
Ho The impact of accounting system on the performance of Nigerian breweries plc. is low
Hi The impact of accounting system on the performance of Nigerian breweries plc. is high
Scope of the Study
The study focuses on the appraisal of the effectiveness of accounting system and its impact on the performance of Nigerian breweries Plc
Limitations of the Study
The study was faced with some constraint including logistic and financial factor
Definition of Terms
ACCOUNTING SYSTEM DEFINED
Accounting system is a system designed to record accounting transaction involving a business or event taking into cognizance the policies of the firm. According to Hartzell (2006) accounting system is the process of organizing, summarizing, recording and reporting financial transactions with the view of providing financial information to management to facilitate policy decisions, budgeting, preparing financial report and other financial approvals. Accounting system is viewed as a formal system which identifies measure, accumulate, analyze, prepare, interpret and communicate accounting information of a business organization or institution.
Ama (2004). Accounting system is regulated by the organizations policies, rules, regulations, methods, procedures and techniques.
Accounting systems constitute the mechanism adopted for gathering and communicating the financial performance and position of the organization.
REFERENCES
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Ama, G.A.N. (2003). Fundamental of Public Sector Accounting and Finance. Nigeria: Amasons Publication Ventures.
Ama, G.A.N. (2004). Simplified Financial Accounting. Nigeria: John Jacob’s Classic Publishers Ltd.
Bhorka, A. D (2005). Accounting and Finance for Bankers. India: Rajiv Beri for Macmillan Publishers.
Bordens, K.S and Abbott B.B (2002) Research Design and Methodology U.S.A: L.C.C Publications.
Chionye, L.E. (2003) Fundamentals of Accounting. Lagos: Bendons and Associates Publishers.
French, C. S. (1996) Computer Science. Canada: Fifth Edition: Nelson Education Limited.
Hartzell, D. (2006) Dictionary of Management. India: Academic Publishers.
Hussey, R. (2005) Oxford Dictionary of Accounting. U.S.A: Oxford University Press.
Ikemefuna, CY .O. (2006) Management Theory and Practice. Lagos: Revised Edition Concept Publications Ltd.
Onyewnenyi, R. N. (2002) Macro Computers Studies for Beginners. Onitsha: Spiritan Publication.
Ozo, ORO, Ani and Ugwu (2007). Introduction to Project Writing. Enugu New Dimension Publishers. Cxi
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