6919524f67a4ede6740a456fa959b8a1b385.pdf - Asian Economic and Financial Review 2014 4(5:655-670 Asian Economic and Financial Review journal homepage

6919524f67a4ede6740a456fa959b8a1b385.pdf - Asian Economic...

This preview shows page 1 - 3 out of 16 pages.

Asian Economic and Financial Review, 2014, 4(5):655-670 655 INFORMATION TECHNOLOGY AND ACCOUNTING INFORMATION SYSTEM IN THE NIGERIAN BANKING INDUSTRY Kabiru I. Dandago School of Accountancy, College of Business, Universiti Utara Malaysia, Sintok UUM, Kedah Darul Aman, Malaysia Abdullahi Sani Rufai Department of Accounting, Kogi State University, Ayingba-Nigeria ABSTRACT Information technology has tremendously stimulated expansion of the banking networks and range of the offered services during recent years. The information technology has become a critical business resource because its absence could result in poor decisions and ultimately business failure. This study intends to find out the information technology influence on accounting information production in the Nigerian banking industry. Both primary and secondary data were used and Analysis of Variance (ANOVA) was used to test the hypothesis. Judgmental sampling method was used to obtain a representative sample of the population. Although for all Nigerian banks the efficiency has increased, the improvement of cost of efficiency is relatively much smaller than in the case of profit efficiency. It is also observed that accounting information technology can improve banks performance by reducing operational cost and by facilitating transactions among customers within the same or different network. It is, therefore, concludedthat accounting information technology is relevant in simplifying issues and in the provision of quality information in the Nigerian banking industry. That explains why the banks spend a greater part of their resources on information technology and consider its application as a comparative edge in the competitive banking industry. This paper recommends that the impact of the progress in accounting information technology on banking service should not lead to a very strong increase of cost of their processing, which put in question possibility to achieve economy of scale by Nigerian banks. Also all Nigerian banks should continue to utilize and upgrade their information technology for efficient service delivery and profitability. Keywords: Information, Technology, System, Banking, Industry, Accounting Asian Economic and Financial Review journal homepage:
Image of page 1
Asian Economic and Financial Review, 2014, 4(5):655-670 656 1. INTRODUCTION Every organization private or public, profit making or non-profit making, large scale or small scale, uses accounting information to make decisions, and the information needs vary according to information each user requires (Nickels et al. , 2002) . Initially the appropriate information was prepared manually by the accountant, and this has a number of drawbacks. With the advent of information technology, the accountant now has at his disposal a number of accounting information tools that help him in simplifying issues and providing quality information for the organization he renders services to. The sector that has been most radically affected by this development is the financial sector
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 16 pages?

  • One '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors