ABSTRACT
The purpose of this paper is to focus on the impact of IT related on corporate financial reporting function and to contribute to the body of knowledge about to what extent IT affects the ability to solve accounting tasks in the banking sector. The relationship between IT and accounting practices was investigated qualitatively using a case study (Zenith bank plc.) and we will measure the impact of IT on corporate financial reporting. The research was carried through the use of questionnaires, in which 120 was administered to staff of Zenith bank plc Bayelsa with 20 not returned and the data technique used was the Pearson Product Moment Correlation which measured the relationship between the two variables information technology (x), and corporate financial reporting (y), from the field survey, coupled with the research hypotheses, it was observed that there is a averagely positive relationship between IT and CFR, hence, for the banking industry IT to be effective, positive investment has to be made towards to the IT segment of the bank. It was also observed that IT also has a very strong relationship with the credibility of financial reports, the more effective the banks IT systems are the more will stakeholders of the banks will rely on the financial statement. It is recommended that the banks must be focused in terms of their needs and using the right technology to achieve their goals, which is to ensure that accuracy of financial reports because it determines decision making. In conclusion IT allows the banking industry to process large amounts of financial information and process it quickly through the accounting system. Quicker processing times for individual transactions has also lessened the amount of time needed to close out each accounting period. Month- or year-end closing periods can be especially tasking ing on accounting departments, resulting in longer hours and higher labor expense. Shortening this time period aids the bank in cost control, which increases overall company efficiency.
INTRODUCTION
................ The impact of information technology has been felt all over the world and in all areas of life. Over the past twenty plus years it has changed the world we live in and redesigned the way we perform our daily activities. IT has definitely made a dramatic impact in the business world. Businesses use IT for a number of several uses in the workplace (Franke, 1987). According to (William, 1999) information technology encompasses many aspects of computing and technology. The information technology covers many fields. IT professionals perform a variety of duties that range from installing applications to designing complex computer networks and information databases.
A few of the duties that IT professionals perform may include data management, networking, engineering computer hardware, database and software design, as well as the management and administration of entire systems. Information Technology (IT) is a general term that describes any technology that helps to produce, manipulate, store, communicate, and/or disseminate information. Presumably, when speaking of Information Technology (IT) as a whole, it is noted that the use of computers and information are associated. Decades ago, the design of secure networked computer systems was almost the exclusive province of military and financial institutions. The first large scale applications of sophisticated security technology using cryptography were developed in the military. Banks today remain at the forefront of developing sophisticated security systems for global electronic commerce, although the playing field is already thick with potential competitors.
Chaya, (1996), observed that new technologies not based on personal computers such as smart cards or smart telephones may also play a decisive role in defining the markets for financial services in the future. However, some new technologies, such as smart cards, may find more markets in developing countries than they have to date in the United States where markets for electronic financial services are often quite mature and customers may have little incentive to adopt newer technologies.
According to Paul, (1990), the rapid growth of networked information systems also creates threats to the security of financial market infrastructure if the trustworthiness of those networks is permitted to decline as their scope .and today, the term information has ballooned to encompass many aspects of computing and technology, and the term has become very recognizable. IT professionals perform a variety of duties that range from installing applications to designing complex computer networks and information databases. ...............
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CHAPTER ONE: INTRODUCTION
1.0 Background to the study
1.1 Statement of Problem
1.2 Research Question
1.3 Research objectives
1.4 Statement of hypothesis
1.5 Significance of study
1.6 Scope of the study
1.7 Limitation of study
1.8 Definition of terms
1.9 Historical background of case study
CHAPTER TWO: LITERATURE REVIEW.
2.0 Introduction
2.1 Review of information technology
2.2 Evolution of information technology
2.3 Corporate financial reporting
2.4 Impact of internet on CFR
2.5 Impact of information technology on internal auditing
2.6 A review on financial accounting report
2.7 Financial performance as a basis for investors forecasts
2.8 The users of the regulated financial statements
2.9 Financial reporting as a prime source of financial analysis
2.10 Quantitative characteristics of financial reporting information
2.11 The relevance and usefulness of accounting information for investment decision
2.12 The effect of computer process on financial statement
2.13 The effect of IT on the security of financial information
2.14 The development of IT in the banking industry
2.15 Computer technology in the banking industries
2.16 The view on electronic banking
2.17 Electronic banking and the common banking product
2.18 Telephone and PC banking products
2.19 The card system
2.20 The automated teller machine (ATM)
2.21 The entry of the Nigeria banks into electronic banking
2.22 Threats of Cyber-Crimes on the Nigerian Banking Premises
2.23 Globalization of IT and Nigeria commercial bank
2.24 Impact of information technology on corporate financial reporting
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Introduction
3.1 Research Design
3.2 Study population
3.3 Sampling technique
3.4 Source of data collection
3.5 Research instrument
3.6 validity of research instrument
3.7 Reliability of research instrument
3.8 Method data analysis and presentation
3.9 Test of hypothesis
CHAPTER FOUR: DATA ANALYSIS, PRESENTATION AND ANALYSIS
4.0 Introduction
4.1 Data presentation analysis and interpretation
4.2 Main question analysis
4.3 Test of hypothesis
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.0 Introduction
5.1 Summary of findings
5.2 Conclusion
5.3 Research findings
5.4 Recommendation
BIBLIOGRAPHY
96 Pages
Reference code: c013
Reference code: c013
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