EVALUATION OF EFFECTIVE FINANCIAL MANAGEMENT IN A COMPUTERIZED ACCOUNTING SYSTEM


EVALUATION OF EFFECTIVE FINANCIAL MANAGEMENT IN A COMPUTERIZED ACCOUNTING SYSTEM

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Abstract

The primary aim of this study is to check the effectiveness and efficiency of financial control in computerized environment i.e. First Bank of Nigeria Plc to ascertain whether computer has since adoption enhance profitability and effectiveness in managing the banking and other financial sectors or industries. This evaluation is targeted at exploring how the use of computer in the solving of accounting issues has yielded positive result in both the banking and other finance circle, thus using First Bank of Nigeria plc as a case study. Financial Management

CHAPTER ONE
INTRODUCTION

1.1 Background to the Study
Globally, in United States of America, computerization of banking departments plays an increasing important role in economy and society at large, of which computer applications knowledge is a pre-requisite in every profession, opportunities are enhanced, whatever be the nature of the profession chosen. The presence of this small box in day-to- day function is overpowering and it has become the backbone of all banking accounting systems. Business depends on computers to handle all kinds of accounting and bookkeeping jobs. Banks use computers to record money deposited and withdrawn. You can also book and plan your entire travel agenda, including your ticket booking through e-mail facility, Boyett et al., (2005). It is globally belief that the computers are able to provide useful information if properly fed with a reasonable input or it will result in “Garbage in Garbage out”. The use of computer to carry out a very wide range of activities for work, study and leisure has become part of our everyday life. It is no longer something that you may want to use if you are interested; rather like motor car it is an essential part of our lives, Loudon et al., (2001). Financial Management. Financial Management. Financial Management

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