thesis about accounting software

Knowledge and use of accounting software: evidence from Oman

Journal of Industry - University Collaboration

ISSN : 2631-357X

Article publication date: 2 December 2020

Issue publication date: 1 November 2021

The aim of this paper is to determine the influence of knowledge and use of accounting software among small and medium entrepreneurs (SMEs) in Oman.

Design/methodology/approach

This study has used qualitative approach. Further, the paper elucidated the significance of knowledge of accounting software and evaluated the relationship between knowledge and its adoption or use of accounting software among SMEs in Oman. Purposive sampling method was used to choose the target interviewees required for the survey (semi-structured interview). This method has been applied by selected accountants who work in SMEs in Oman. Based on practical experience and basic knowledge in the field of accounting, a total of six members are selected as the sample size for the study.

The findings revealed that the knowledge of accounting software has a significant effect on the use of accounting software, meaning that there is significant and positive relationship among the knowledge of generalized accounting software and the use of such generalized or customized accounting software by SMEs in Oman. In addition, this research shows the empirical evidence of knowledge of accounting software effects on the adoption or use of accounting software among SMEs in Oman

Practical implications

The study has brought about a new discussion on the importance of information communication technology (ICT) knowledge and use or adoption of accounting software by SMEs for accounting literature. Further, this study emphasizes the usage and benefits of accounting software by accountants in various SMEs. Further, it would be useful to suggest that SMEs and such other types of organizations adopt customized or generalized accounting software that will enhance the practice among accounting professionals.

Originality/value

This paper contributes both theoretical and practical knowledge of accounting in accountants using generalized or customized accounting software and its relationship with accountant in various SMEs or such other organizations; it is an approach that is not widely discussed in the previous studies. Besides, conducting such study in the field of SMEs gives novelty in the literature between SMEs and developing economies. This has discussed the weakness of accountant in implementing accounting software in the organization.

• Small and medium entrepreneurs (SMEs)
• Generalized accounting software
• Customized accounting software
• Accounting professionals

Thottoli, M.M. (2021), "Knowledge and use of accounting software: evidence from Oman", Journal of Industry - University Collaboration , Vol. 3 No. 1, pp. 2-14. https://doi.org/10.1108/JIUC-04-2020-0005

Emerald Publishing Limited

Copyright © 2020, Mohammed Muneerali Thottoli

Published in Journal of Industry-University Collaboration . Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/legalcode

1. Introduction

Current professional accountants use a wide range of computer applications to perform their day-to-day operational work ( Do et al. , 2020 ; Blankley et al. , 2019 ; Boulianne, 2014 ). Information communication technology (ICT) has been considered as a major aspect of effective and efficient accounting system and which can leads to increase organizational performance drastically. Information communication technology (ICT) has been used to enhance organizational performance and the reliability of accounting information ( Ganyam and Ivungu, 2019 ; Ogundana et al. , 2017 ; Sami, 2011 ). Accounting information systems include both computer software and hardware which help in recording accounting information ( Knapp, 2019 ; Taiwo, 2016 ; Wessels, 2005 ) Rapid movement in adoption of information iechnology (IT) by organizations helps to acquire and implement daily accounting operations using computerized accounting software. Most of the accounting software are user-friendly for accountants, which resulted in functioning of accounting tasks on a daily basis, in a timely manner and accurately ( Xu, 2020 ; Fowzia and Nasrin, 2011 ; Musa and Abu, 2005 ). Most of the organizations now replaced their traditional method (manual accounting system) with computerized accounting systems ( Phyu and Vongurai, 2020 ; Dalci and Tanis, 2004 ). It is encouraged that continuous effort is required to equip future accountants with necessary IT knowledge and skill as the interconnectedness among IT and accounting functional areas in an organization is invariably important ( Turner et al. , 2020 ; Lin et al. , 2005 ; Allen, 1999 ). Over the years, scholars have also found some of the major difficulties faced by small and medium enterprises (SMEs) are incomplete records, lack of finance, staff inexperience, poor power supply, among others ( Căpușneanu et al. , 2020 ; Chhabra and Pattanayak, 2014 ). Prior to the 21st century, most organizations preferred traditional method of recording accounting transactions, which, of course, is very time-consuming and involves too much paperwork ( Kumar, 2020 ). Some of the records prepared by their accountants were incomplete due to not being able to reach proper decisions by the management. These and many more difficulties are encountered while using the traditional method of recording of accounting transactions, which has given birth to ICT ( Turner et al. , 2020 ; Nyathi et al. , 2018 ). The enhanced use of accounting software has changed the accounting process, which involves transactional entry, data storage and preparation of financial statements and related information, and has an impact on the decisions of stakeholders who use financial statements for various purpose. This is also useful for internal control systems employed by the entity ( Turner et al. , 2020 ; Senft et al. , 2016 ). The professional accountant should have sufficient knowledge of various accounting software ( Mustafa, 2020 ) to identify and post various items in ledgers, which comes under financial statements, and to ensure fairness of financial statement. The accountant should acquire additional knowledge of accounting software and generalized enterprise resource plan (ERP) ( Draijer, 2020 ) in order to ensure the companies accounts are recorded as per applicable accounting standards or International Financial Reporting Standards (IFRS). Accountants have now been using generalized accounting software to do all the accounting tasks instead of using the traditional ways of accounting ( Kumar, 2020 ), such as manual recording of accounting transactions and finalization of financial statements ( Turner et al. , 2020 ). Omani students learn theoretical knowledge of basics of accounting. Therefore, there is a need to learn how to use specialized accounting software ( Shaffer et al. , 2020 ) and gain a broad understanding of the finance, accounting and commercial segments, even within an international context. Professional accountant should also have adequate practical experience to use generalized accounting software such as Tally, Peachtree and QuickBooks. IT helps overcome the challenges of an accounting profession ( Rîndașu, 2017 ). Replacing traditional accounting paper records with computer-based records brings many advantages, especially for SMEs. The advantages include increased reliable and accurate financial reports and faster access of financial data, and it ensures fairly improved generation of accounting information through financial statements ( Gökten and Özdoğan, 2020 ; Ghasemi et al. , 2011 ). Accounting software is a major instrument in accounting information systems (AISs), offering timely, accurate and reliable information. Undoubtedly, it is no secret that technology has evolved to the extent that no current business enterprise can operate without it ( Huy and Phuc, 2020 ; Thottoli, 2020 ; Situmorang, 2020 ; Ramazani et al. , 2012 ). When compared to small-scale organizations, large-scale organizations set more weightage on the development of accounting information. However, SMEs in China face many problems as a result of no implementation of accounting policies. This was one of the barriers of economic growth of China. Hence, improving the level of accounting policies and other related information of SEMS is essential ( Yu et al. , 2020 ; Wen, 2020 ; Zhou, 2010 ). Lack of use and knowledge of accounting software leads to continued manual accounting that may be very hard for business owners, especially SMEs, to monitor financial health of their businesses. This leads SMEs not meeting their business goals ( Alhatabat, 2020) . As there are no specific studies that examine the knowledge and use of accounting software among SMEs in Oman, there is no clarity regarding the accounting practices that accountants follow in an ICT-enabled or accounting software environment. Thus, the objectives of this study are to examine the knowledge and use of accounting software among SMEs in Oman.

SME : Since there is no standard definition for SMEs, this research has taken on the following meanings of SMEs. The SMEs are categorized according to the number of employees employed. Organization with less than 10 employees is considered as a micro organization or enterprise. Organization with employees between 10 and 50 is considered as small organization or enterprise. An organization employing between 50 and 250 employees is considered as medium-sized organization or firms. This criterion is supported by studies of Ocampo et al. (2017) and Kapurubandara and Lawson (2006) , and was used to analyze and investigate to qualify SMEs for the purpose of the current study.

2. Literature review

There are number of literature studies identified that highlighted the importance of the use of ICT or accounting software in SMEs. Baporikar (2020) , Idota et al. (2020) and Ashrafi and Murtaza (2013) in their study mentioned that it has been widely accepted that SMEs generally play a crucial role in a country's economy, and their role is the key to a country's economic stability to achieve targeted gross domestic product (GDP). Hernandez (2020) and Amidu et al. (2011) opined that accounting function contributes an important role in the success or failure of any SME or modern business organization. Ibrahim et al. (2020) and Jinga et al. (2010) mentioned that AISs are helpful for recording accounting transactions, analyzing, monitoring and analyzing financial statements of any company. AISs also help to prepare documents necessary for taxation purpose and generate information that support many other organizational tasks. Bashorun et al. (2020) highlighted that prior to the emergence of personal computers, companies used only manual approaches for recording accounting transactions which result in lack of fair financial data. Araya-Leandro et al. (2020) and Azih (2018) noted that manual accounting systems consist of accounting ledgers prepared using paper, typewriters and calculators. Thottoli et al. (2019a, b, c) found in their study that ICT has a significant impact on the auditing practices. It means that there is a significant and positive relationship between the ICT and the auditing practices of accounting professionals. Another view of Tychalas and Karatza (2020) and Arcega et al. (2015) was that by using computerized accounting system, the respondents tend to complete their jobs successfully, and it also enhances their quantity and quality of work. Meanwhile, in employing the manual or traditional way of accounting system, the interviewees claimed that although they are able to complete their job accurately, launching a computerized accounting system is more convenient ( Xu, 2020) . Alternatively, Ibrahim et al. (2020) and Amanamah et al. (2016) have claimed that the usage of computerized accounting system by SMEs has much improved their performance. Negative effects of the usage of accounting software are increased cost, lack of education on the benefits of the usage and lack of knowledgeable personnel. Ibrahim et al. (2020) and Pulakanam and Suraweera (2010) analyzed and found that small businesses, while implementing small business accounting software, face many barriers, such as non–user-friendly and non-availability of software vendors’ support and guidance ( Bakr, 2020) . Ashrafi and Murtaza (2008) in their study provided that only a very a smaller number of SMEs in Oman are aware of the available accounting software and its adoption. Further, most SMEs outsource majority of their accounting services. Most of the SMEs lack internal capabilities, are unable to bear high implementation cost of IT in business and lack information about appropriate IT solutions and implementation, which were some of the main restrictions in adopting IT. Damak-Ayadi et al. (2020) , Alabdullah et al. (2019) and Rudzani and Manda (2016) identified in their study that SMEs are required to use IFRS and many of these organizations are finding it hard to adopt or incorporate IFRS for numerous reasons, including lack of available expertise. The latest updates should be incorporated in the accounting software as and when required. Bui et al. (2020) and Everaert et al. (2006) found that some SMEs are facing issues managing their accounting tasks. The reason for such issues is lack of expertise knowledge in basic accounting, lack of knowledge in generally accepted accounting principles and lack of applicable tax regulation. It is also essential that one should know the benefits of the application of rules in a given business environment. Mishina et al. (2020) and Maseko and Manyani (2011) say that because of lack in accounting knowledge, and as a consequence, there is inefficient use and entry of accounting transactions that will affect fairness of financial statements and its performance measurement. Most of the SMEs are not maintaining complete accounting records. Jimoh et al. (2020) and Amahalu et al. (2017) expressed their view that the usage of computerized accounting system has shown a marginal increase in profitability of banks compared with when banks were using manual system of accounting. Hassan (2020) , Ahmed et al. (2020) and Rahman et al. (2015) emphasized that by using accounting software technology, SMEs can reduce their operating cost drastically and increase profitability marginally, thereby achieving competitive advantages. They suggested that the knowledge of Excel should be included in university accounting programs, since Excel is the most frequently utilized software / tool by majority SMEs. Anderson et al. (2020) , Thottoli (2020) and Lee et al. (2018) found that the use of Excel in accounting areas such as audit, tax, advisory and corporate is considered as important by majority of small organizations. In addition, accounting / ERP software, Adobe Acrobat, PowerPoint and the FASB Codification were recognized as often employed across various accounting areas and practical knowledge levels. Andiola, Masters and Norman (2020) noted that accounting and auditing practitioners in their practicing areas require experience, analytic skills and data visualization skills. These are important, but data analytic skills are more important than data visualization skills. Ibrahim et al. (2020) and Amoako (2013) in their study found that the majority of SMEs fail to keep complete accounting records. Small business owners think that keeping accounting records are not required and gives less need or important to expose their financial position. They also suggested that training programs must be organized to alert managers to understand the importance of maintaining proper books of accounts using computer.

3. Methodology

This study explores the effect of knowledge of accounting software which leads to adoption of accounting software among SMEs in Oman. To choose the required respondents for the survey, this study has used a purposive sampling method to make ease of estimation procedure ( Teddlie and Tashakkori, 2009 ). The sampling method is used by selecting accountants who works in SMEs in Oman. A total of six accountants in various SMEs were selected as the target respondents as sample size. The rationale for selecting the respondents was their experience and basic knowledge in accounting and accounting software and their practical knowledge and its applications within the selected SMEs in Oman. This means, the study has established a good professional experience with the interviewees to develop the quality of the interview questions and thus improve the analysis, and considered follow-up questions and explanations where required. Interviewees were able to express their views in detail and discussed numerous issues which they were assured would remain confidential. The purpose of using the interview technique in this research is to investigate whether knowledge of accounting software has an influence on the adoption or use of accounting software in SMEs in Oman.

4. Discussion

4.1 the impact of knowledge of accounting software leads to adoption or use of accounting software among smes in oman.

Recent studies in the field of accounting and management (e.g. Cadez and Guilding, 2008 ; Jalaludin et al. , 2011 ) are in agreement with the results of the approach analysis; in the third phase of the discussion with interviewees, the participants were requested to comment on the results regarding the effect of knowledge of accounting software on various accountants who work in SMEs in Oman. Most of the respondents (three out of six) agreed that the aspects, namely, theoretical and practical knowledge of accounting software and knowledge of using accounting software such as Tally/ Quick Books/ Peachtree/ ERP/ Generalized accounting software/ Excel/ and so forth among accounting professionals of SMEs in Oman were considered as vital contributors which lead to practical use of accounting software among SMES in Oman. The respondents indicated that these determining aspects, which have been stated, have played a very serious role in determining selection and use of accounting software structure for accounting in various SMEs in Oman, thus enhancing the accounting practices. Some of the interviewees, who had sole proprietorship and partnership, based on their experience suggested adopting ERP systems in their organization for recording large and complex transactions.

Alternatively, other three of the respondents alleged and evidently claimed that there was direct relationship between the theoretical and practical knowledge which is required to adopt software for recording accounting transactions. On this point, the interviewee respondent exemplified that “ Currently we use a special notebook to record transactions. Lack of knowledge of how to use advanced software. Do not find a program that suits the level of a commercial project. […].” Another interviewee mentioned that they did not use any programs in their accounting because business was small. The process of recording accounting transactions requires both theoretical and practical knowledge of accounting principles and accounting software. We still have a vast majority of SMEs in Oman using only books for recording their day-to-day accounting transactions. Only a small number of SMEs in Oman know the benefits of available accounting software and ICT adoption. SMEs face lack of ICT skilled employees for adopting accounting software for recording accounting transactions. So, this is consistent with the study of Nikolić et al. (2020) , Ibrahim et al. (2020) and Ashrafi and Murtaza (2013) , which found that the knowledge of accounting principles and accounting software leads to the adoption of accounting software in SMEs. One prominent professional auditor had strong reservations about the “[…] customize the new international standard of accounting require us to update the ERP and sometime that is not available which require us to change the ERP. ” Updating recent changes in accounting standards or IFRS in ERP software requires assistance from software vendors. This is supported by Hernandez (2020) and Ha and Ahn (2014) who pointed that factors such as competent internal ERP team, supportive top management, employees’ technical training, collaboration between interdepartment and communication, continuous improvement and continuous systems process integration/extension influence adoption of accounting software in SMEs. Another interviewee noted that, “ […] easy to generate report and track the account and analyze the data ”’ this is supported by Birt et al. (2020) and Arcega et al. (2015) that computers provide accurate calculations and smart reports such as financial statements, cash flow statements and various budgets. Another prominent interviewee opined that “[…] d o not find a program that suits the level of a commercial project.” The same has been mentioned by Birt et al. (2020) and Wadesango (2015 ) in their studies that majority of SMEs use single-entry accounting and keep those transactions in books or MS Excel. According to Damerji (2020) and Chao and Chandra (2012 ), the knowledge of accounting software and its adoption are critical, and owner's knowledge of IT was found to be a significant predictor of adoption of traditional IT, as well as IT strategic alignment and Internet know-how, while controlling for differences in organizational attributes (age, size, affiliation industry and strategic attention). Accordingly, the accounting profession needs strong basic principles of accounting, especially in theoretical knowledge. The main role of accountant is to provide service for entry process financial transactions and generation of financial reports. Accountants should have certain percentage of knowledge in the realm of traditional/old financial accounting practice. In addition, accounting controllers think employing an ERP system leads to modifications in the role of accountants ( Chen et al. , 2012 ). When we asked them about the theoretical and practical knowledge about accounting software, three of the interviewees (professional accountants in SMEs) conclude that the use of computerized accounting software / ERP is easy since it reduces the work of preparing financial statements, budgets, cash flow statements and so on. R1, for example, states, “ Making daily invoices prepare the general budget of the ministry and assist in facilitating the financial operations of the government by identifying monthly revenues and expenses and sending them to the ministry .” Another interviewee (R2) reiterated the importance of knowledge of accounting software, “Lack of knowledge of how to use advanced software are the barriers while using such accounting software.” Likewise, this result is supported by Oduro (2020) , Pillay (2016) , who claim that lack of practical knowledge and thus unable to experience the potential benefits of latest technology and strategies to support and boost SMEs in achieving their business operational objectives is the major barrier to ICT adoption. SMEs face various issues in implementation of ICT, such as inadequate financial resources, availability of inexperienced ICT employees, insufficient knowledge and skilled/experienced employees in the job market. A study in conducted by Moghavvemi et al. (2012) and Ruivo et al. (2012 ) indicated that IT notion is taken as a powerful competitive tool in the recent economy and measures ERP post-adoption benefits on SME performance. One of the interviewees expressed their concern about the use of accounting software requiring theoretical and practical knowledge of accounting standards or IFRS and accounting software in order to record day-to-day business transactions, “ Accounting software is a software designed specifically to help an accountant or entrepreneur. It manages all its accounting in purchases, sales, profits, losses and other related project .” This result is consistent with some of the previous studies ( Turner et al. , 2020 ; Janvrin et al. , 2008 ; Hostrom and Hunton, 1998 ). Usually, the result of the semi-structured discussions with respondents was consistent with and validated the qualitative findings presented, which found that all aspects (customized accounting software) had significant impact on practices among accounting professionals in various SMEs.

5. Implications

The study reveals a number of implications. The primary finding increases the importance of ICT knowledge and use or adoption of accounting software by SMEs for accounting literature. This research would be useful to SMEs to enhance the knowledge and use of accounting software among accounting professionals, as the study findings indicated that accounting software and ERP significantly affect efficiency and effectiveness in the field of professional accounting. This provides SMEs to select the most appropriate generalized or customized accounting software package. However, it implies that when customized or generalized accounting software is properly implemented, both with theoretical and practical knowledge of accounting in SMEs, the method of recording business transactions will be improved, which, in turn, will prevent outsourcing the accounting works to third parties. Freshly graduated students must have practical knowledge acquisition about accounting software and its usage. This suggests the best way to enrich self-confidence in work environment. Imparting knowledge of the accounting software to the employees will be reinforced so that they use computerized accounting. Thus, this improved customized accounting software or ERP in SMEs will definitely improve their proficient way of handling daily recording of business transactions, the approach of accounting practices by SMEs and consequently improve the efficiency and effectiveness of SME’s accountants that will lead to generate automated fair financial statements and other related reports such as cash flow statements and budgetary report. Also, this existing study may help assist the policymakers, especially by Ministry of Oman, tax authorities in Oman, higher educational institutions and government in particular, to set right and consider policies linked to the knowledge of basics of accounting and knowledge of use of accounting software or ERP.

6. Limitations and future research

The research is restricted to few variables that have a relationship with the operational practices of selected organizations under SMEs in Oman. There could be different causative factors for adoption of accounting software by SMEs which can be examined in further studies; there is a need for additional analysis to confirm these leads to different contexts. Besides, it is suggested for impending studies to use quantitative methods, for instance, case studies specifically on moderators, and each of the independent variables to better comprehend the adoption of accounting software by SME organizations for recording day-to-day accounting transactions. In addition, the researchers can study various other challenges that current accounting professionals in SMEs face while using accounting software. Further, this study can be extended to categorize SMEs into partnership, LLP and sole proprietorship and evaluate the effectiveness and efficiency of using accounting software or ERP with traditional method of recording accounting transactions. This accounting software or ERP should support majority of local SMEs in Oman.

7. Conclusion

According to interviews and literature review, this research identifies the variables to be analyzed, the knowledge of accounting software and use or adoption of accounting software among SMEs accountants. As per the limited knowledge of the researcher, there are no previous qualitative study that used and empirically examined the relationship between knowledge and use of accounting software among accounting professionals of SMEs in Oman. This research consequently has assessed this phenomenon and analyzed literature in an effort to determine the knowledge and use of accounting software and evaluated the relationship between the accounting practices and SMEs in Oman. Likewise, this research has made an influential contribution to the literature regarding the influence of the knowledge of accounting software and the accounting professionals among various SMEs. The results have further revealed that the knowledge of customized accounting software or ERP exerts a significant impact on the use or adoption of accounting software in current accounting practices of SMEs. Thus, there is a strong relationship between the knowledge of basic accounting (including knowledge of IFRS) and use or adoption of accounting software to record day-to-day accounting transactions.

The three main parties – SMEs, higher educational institutions (HEI) and tax authorities –strategize on encompassing the use or adoption of accounting software by accounting professional in SMEs. Initially, Ministry of Higher Education in Oman should ensure that the curriculum for graduating students includes proper theoretical as well as practical training on generalized accounting software. With this training, the students should get acquainted with the use and knowledge of organizational customized accounting software which helps them to know automated process of applicable IFRS and Oman's proposed implementation of VAT of 2021. The government and policymakers should strategize on encompassing the use or adoption of accounting software by accounting professional in SMEs by giving aid and regulating the selected features of accounting software, hence making SMEs more compliant to the accounting standards or IFRS and tax laws in Oman. Tax authorities should encourage SMEs to use accounting software for recording business transactions to tackle with corporate tax and VAT. Further, software consultants should also know current accounting and tax regulations issued by government to develop customized accounting software for Omani SMEs. Moreover, it is suggested for future studies to apply quantitative methods such as case studies, specifically moderators, and each of the independent variables to better understand the customized accounting software in SMEs. In addition, the researchers can study various other challenges current accounting professionals face in order to invent customized accounting software which can support recording of accounting transactions of SMEs and to generate budget reports and cash flow statements that could manage SME’s financial operations.

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Implementing Accounting Software In Small Businesses In New Zealand: An Exploratory Investigation

The implementation of off-the-shelf small business accounting (SBA) software has become widespread among small and medium sized enterprises as it has become affordable and technically powerful. At the same time, selecting and implementing a suitable accounting software from among the numerous available software packages is often difficult for small businesses. Using interpretive approach based upon a qualitative research methodology, this paper explores the challenges faced by small businesses in New Zealand implementing SBA software. User confusion, lack of external guidance and support, and lack of accounting skills have been identified as major issues faced by small businesses in implementing SBA software. The external consultant’s play significant role in successful implementation of SBA software, but currently very little research has been done in this area.

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Small and medium enterprises (SMEs) have long been considered as the principle driving force of Bangladesh's economy. Along with stimulating private ownership and entrepreneurial skills, SMEs are flexible and can adapt quickly to changing market demand and supply. The aim of this study was to show that how the factors of barrier affected practicing of accounting software system in SMEs of Bangladesh. However, to get an exclusive finding, total 300 firms were randomly selected as a respondent and surveyed to get the specific answers of the specific questionnaire. Finally, the result of this study suggested the proper application and use of accounting software system ensured strong responsibility and accountability of the business enterprise and it also assisted the owner and policy makers of the firm's to better understanding about their performance and improvement. With employing accounting software technology, small and medium business enterprises can reduce its operating cost and increase its profitability and competitive advantages.

IJMSBR Open Access Journal

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The purpose of this research is to study the challenges faced by organizations when implementing accounting software system in Malaysia. The focus of this research is on SMEs in Malaysia and the respondents are those involved in the implementation of accounting information systems in their companies. The small and medium enterprises (SMEs) are backbone for Malaysia’s economy. Hence, the SMEs’ successful business operations are significant to economic growth. The advantages of using business accounting software are the measurement of business results. The research uses questionnaires to collect data from the sample size of 102 managers and IT-staff in Malaysian SME whose companies implement accounting software system. The findings indicate that insufficient accounting skills and inadequate training present a significant impact on the implementation of accounting software system. Further, the lack of efficiency does not have any impact on the implementation of accounting software syst...

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This study provides insights into current perceptions and possible improvements for the use of electronic accounting applications (EAAs) by micro-enterprises, in addition to identifying the impact on financial inclusion, which aims to promote the use of financial and banking services among various groups of society (Central Bank of Jordan [CBJ], 2018). A sequential exploratory mixed-method was adopted in this research (Creswell & Clark, 2017) where the qualitative phase was conducted first to help gather in depth information about possible factors influencing the non adoption of EAAs in addition to aiding in the design of the quantitative instrument, followed by the quantitative phase to test the posited catalysts that affect the adoption of EAAs by micro-enterprises. Thematic analysis revealed that costs associated with the use of EAAs and the need for qualified personnel to operate EAAs along with a lack of interest in and awareness of e commerce culture were the main reasons for the lack of adoption and use of EAAs. On the other hand, the quantitative analysis showed a set of measures that promote the use of EAAs, in addition to a positive relationship in increasing the scope of financial inclusion. This study presents a number of policy implications for regulators such as 1) the central bank and social security as expanding financial inclusion means adequately providing financial support to affected enterprises; 2) Ministry of Digital Economy and Entrepreneurship to sponsor the development of customized, free, and easy-to-use accounting applications; 3) activating the social responsibility of local universities in promoting the financial culture through holding free training courses for micro-enterprises.

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Digital Commons @ USF > Muma College of Business > School of Accountancy > Theses and Dissertations

Accounting Theses and Dissertations

Theses/dissertations from 2023 2023.

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Theses/Dissertations from 2017 2017

Applying the Theory of Planned Behavior to Influence Auditors' Knowledge-Sharing Behavior , Xu Cheng

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Theses/Dissertations from 2013 2013

Do Changing Reference Levels affect the Long-Term Effectiveness of Incentive Contracts? , Lee Michael Kersting

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Performance and Perception: An Experimental Investigation of the Impact of Continuous Reporting and Continuous Assurance on Individual Investors , Anita Reed

The Effect of Multidimensional Information Presentation on the Effectiveness and Efficiency of a Spatial Accounting Judgment , John K. Tan

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150 Original Accounting Research Paper Topics

Our academic experts understand how hard it can be to come up with original accounting research paper topics for assignments. Students are often dealing with multiple responsibilities and trying to balance numerous deadlines. Searching the web or class notes takes up a lot of time. Therefore, we have put together our list of 150 accounting research topics that students can choose from or gather inspiration from.

Managerial Accounting Topics for College Students

This area of study has tremendous upside as more businesses rely on managerial accountants to bring innovative changes to their organizations. Here is a list of topics for research paper in this area:

• Differences between financial accounting and managerial accounting.
• Managerial accounting in the 21 st century.
• The impact of managerial accounting in big businesses.
• The major components of activity-based costing.
• How managerial accounting affects international finance.
• The impact managerial accounting has on human resources.
• The major components of capital budgeting.
• How managerial accounting affects internal business decisions.
• Effective ways of adopting managerial accounting into small businesses.
• Differences between variable costing and absorption costing.

Accounting Blog Topics for Today’s Generation

The following collection can be considered accounting hot topics because they deal with the issues that are most important to today’s generation of accountants that utilize advanced software to keep businesses successful:

• Cost of manufacturing goods overseas.
• The cost of instituting anti-harassment programs.
• Inventory and cost of products sold in the U.S.
• Reinventing accounts payable processes.
• Using best practices to boost the bottom line.
• The cost of keeping human resources on staff.
• Simplifying procedures in accounts payable.
• The cost of updating internal systems with technology.
• The cost-effectiveness of employee training.
• Working capital increasing in large companies.

Advanced Accounting Topics

As students advance academically, they may want to consider these topics for research paper to earn higher scores in their classes. Here are some suggestions:

• How to run an efficient large accounting department.
• Red flags in outdated accounting processes.
• Identifying unconventional processes in payment processes.
• Utilizing paperless processes in small businesses.
• Applying EDP to accounts payable processes.
• The benefits of automating payables and receivables.
• Outsourcing procurement processes to save money.
• Automation to handle repetitive processes.
• The need for diversifying skills in accounting.
• The ways time affects seasonal cash flow.

Controversial Accounting Topics

Many accounting topics for research papers need to draw a reader’s attention right from the start. This list of topics is controversial and should accomplish just that:

• The impact the Jobs Act will have on large businesses.
• The positive effects tax cuts will have on small business.
• The risks of offshore accounting on U.S. businesses.
• The need to update software each year to avoid accounting problems.
• How small businesses are falling behind in accounting practices.
• The impact bonus depreciation allows businesses.
• Applying to government relief programs.
• Describe the role the internet has on accounting.
• The trustworthiness of online accounting programs.
• The negatives of auditing collusion.

Intermediate Accounting Topics

These accounting paper topics are meant for students that have acquired skills in writing but may not have developed the skills needed to write a top-notch paper quite yet. They should be easy to research given a proper planning period:

• Discuss why companies need to incorporate automated processes.
• The problems with ethics in accounting practices.
• Technology advancements that improve accounting accuracy.
• The problem with accuracy in decade-old software.
• Explain the best way to help accountants work manually.
• Describe the historical prospect of best accounting practices.
• The most effective way to become a certified accountant.
• Compare accounting systems that improve processes.
• The quick flow of data and the value on today’s accountants.
• The negatives that come from relying on accounting software.

Interesting Accounting Topics

Sometimes you need to consider accounting project topics that would be great for numerous situations. You may need to present before a class or write a paper for a discussion panel. These ideas may suit your needs:

• Explain the concept of accounting theory to practice.
• The theories behind normative accounting practices.
• The effect theories in accounting have on businesses.
• Challenges of taking theory to practice.
• The major changes in accounting practices over the last 25 years.
• The impact the internet has had on accounting ethics.
• Accounting practices in the 21 st century.
• The challenges of accounting technologies on fast-growing companies.
• The dangers the internet poses toward ethical accounting.
• Describe the difficulties that come from putting theories into practice.

Accounting Projects Topics for a Short Project

Some cost accounting topics are worthy of an audience but need to be completed within a tight deadline. These project ideas are easy to research and can be completed within one week:

• Use of efficient accounting software in tax season.
• Applicable Professional and Legal Standards.
• The difficulties in using offshore accounting.
• The most effective way of managing earnings.
• The development of cash flow in the United Kingdom.
• The development of cash flow in the United States.
• The best way to manage personal finances.
• The effect financial markets have on personal spending.
• Debt management in large corporations.
• Accounting challenges during the pandemic.

Forensic Accounting Research Topics

This is another area of accounting that has a promising future for small to large businesses. Here are forensic accounting research paper topics you can use if you are interested in this booming segment:

• Methods for identifying instances of money laundering.
• The government’s right to search private accounts.
• The use of tax records to report possible crimes.
• Class action litigation cases in the United States.
• Court use of forensic accounting in criminal cases.
• Forensic accounting to develop better anti-fraud programs.
• A company’s reliance on forensic accounting to prevent theft.
• Establishing controls in emerging international markets.
• Forensic accountants and their role in court proceedings.
• Natural disaster and loss quantification practices.

Accounting Theory Topics for College

Good accounting thesis topics should mirror personally important issues. Essay ideas should reflect the things you want to learn more about and explore in-depth. Here is a list that may pique your interest:

• Impact of accounting research on financial practices.
• Scientific research studies in modern economies.
• Modern accounting concepts and applications.
• The change in accounting practices over the last two decades.
• Describe the components of Positive Theory.
• Marketplace discipline across major industries.
• Major accounting theories and techniques in big businesses.
• The use of technology to reduce accounting costs.
• Technology theory in the use of modern accounting.
• Risk management and the most effective theories.

Accounting Dissertation Topics for Grad Students

The following topic ideas delve into some serious issues in accounting and are much more difficult to handle. These should be approached with the utmost academic determination to earn a master’s or a Ph.D.:

• Compare accounting software versus manual accounting.
• Tax management procedures in the 21 st century.
• The risks of updated technology in small companies.
• The costs associated with broader health care in the workplace.
• The history of accounting in the 20 th century.
• The best method of managing debts without difficulties.
• Accounting problems caused by online transactions.
• Cryptocurrency and its impact on modern accounting practices.
• Forecasting jobs in the field of accounting.
• The danger technology poses to the accounting industry.

Current Accounting Topics for College

If you don’t have enough time to research current topics in accounting, these ideas will help you save time. There are plenty of online resources discussing current issues and you can also find information in the library:

• Compare and contrast different cryptocurrencies.
• The definition of a successful and modern business account.
• Non-profit organizations and tax reductions.
• Sports accounting in today’s world of social media.
• The financial benefits of having a second stream of revenue.
• Financial stock management of overall earnings.
• The relationship between corporate donations and accounting.
• Minimizing risks in big and small-sized businesses.
• The impact that tax deductions have on big businesses.
• Financial strategies to ensure employee retention.

Hot Topics in Accounting for a Graduate Level Course

These are the topics you should be considered for a graduate-level course if you want to make a great impression on the professor. Just be sure to do your due diligence and research your selected topic thoroughly:

• The instances of “cooking books” in the 21 st century.
• The best approach to update accounting systems.
• Fraud cases currently in the United States.
• The importance of forensic accountants in fraud cases.
• The reasons account reports have government regulations.
• The benefits of incorporating computerized accounting.
• The need for companies to make changes to accounting departments.
• Evolving accounting practices that reduce the risk of theft.
• The effects offshore gambling has had on accounting.
• Privacy protocols to keep accounting practices secret.

Financial Accounting Topics Being Discussed Today

Topics in accounting are rooted in financial processes that date back centuries. Yet, there are still many innovative ideas that drive business success. Consider these topics for an essay on issues that are current for today’s world:

• The evolution of accounting practices over the last century.
• The biggest ethical concerns about accounting.
• Minimizing taxes when you are a small company.
• Accounting software that will cut company costs.
• The best way to lower taxes through accounting practices.
• Describe the way managerial accounting is affected by international markets.
• Explain the major factors of management earnings.
• The most accurate way to figure out the estimated tax on a company’s earnings.
• The quickest way to become a certified accountant.
• Describe how culture influences accounting practices.

Accounting Information Systems Research

The next set of topics are great for anyone wanting to combine accounting with technology. We put together this set to generate interest in this area:

• The ways small businesses can benefit from advanced technologies.
• Describe how IT affects financial analysis for reporting.
• Explain how companies use AIS to collect and store data.
• Explain the 10 elements used to understand AIS.
• Rank the best accounting information systems.
• The future of AIS in small business financial practices.
• Explain how AIS eliminates the use of balance sheets.
• AIS technologies save money in large businesses.
• The future of AIS in small to mid-size businesses.
• Describe the role of AIS in modern business.

Accounting Presentation Topics for College

These presentation topics cover a wide range of areas that are perfect for diverse interests. At the college level, students must conduct a lot of academic research to guarantee they have all the most relevant information needed to present on a great topic:

• Describe how forensic accounting can reduce risk to small businesses.
• Describe the challenges value and cost that managers deal with.
• The biggest changes to accounting practices in the 21 st century.
• The benefits of having separate controlling accounts.
• The rapid flow of data and the importance of modern accountants.
• Describe how forensic accountants conduct their investigations.
• The most likely causes of financial instability in small businesses.
• Explain the factors one must consider before investing.
• Describe the differences between financial and management accounting.
• Describe the impact of new taxation policies on managerial accounting.

What do you think of our accounting research topics? These are available for free and can be shared with other students. If you need a custom list of accounting topics, our academic experts can take your assignment details and provide you with original and simple accounting research topics to facilitate your project and help you earn a top grade. We can also provide you with writing, editing, and proofreading services to ensure your assignment is error-free and gets you the highest score possible.

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The List of 70 Accounting Thesis Topics for Students

Accounting describes the process of recording and consolidating financial transactions in business. It involves analyzing, reporting, and summarizing financial transactions to organizations, businesses, tax agencies, and regulators. This is usually presented via a financial statement, a concise summary of all the financial dealings over a stipulated period. It provides clear documented information of a company’s operations, cash flow, and present financial standing. High accounting standards improve the credibility of financial statements. These financial statements can range from cash flow statements, income statements, loss statements, balance sheets, etc. This constant and customary method of financial reporting enables shareholders and other beneficiaries of a business to examine the performance of the said business.

Accounting Thesis For Students

Accounting research topic ideas, topics for accounting thesis, interesting accounting topics for your paper, accounting research questions, accounting dissertation topics, research papers topics on accounting, financial topics to write about.

Accounting is essential for majorly business and management students. They start the basics of the subject in their lower levels, and some progress to further the subject in their higher studies. During this period of education, there will come a time they will require accounting topics for the thesis. They will need to focus on all the elements of the thesis in accounting and compile topics that will suit their interests.

Accounting thesis topics for students are tailored towards a particular aspect of the profession. In this manner, picking an accounting thesis topic and nurturing it will be based on your stage of education, be it an undergraduate, master’s, or PhD level.

Usually, there are areas of improvement and weaknesses in the world of finance. These errors are often the birth of research and analysis to create accounting research paper topics, buying a dissertation , or thesis topics in finance for students.

Trying to focus on many problems at a time can make you not finish your research topic in accounting at the appointed time. As a student, this is one error you want to avoid.

Naturally, you cannot master all the accounting subjects with the same ease. Hence, focus on the ones your strength resides in and discard the ones that posed a certain level of difficulty during the study. This is an important tip and recommendation when picking accounting topics for research. Here are some good examples of accounting research topics ideas.

• Accounting origin
• The Ethics of Accounting and Its Relevance in The Society
• Company structure influence on Accounting
• Information Systems For Accounting
• Accounting and Taxes
• Accounting as Relates to Personal Finance
• Profit Management
• Financial Markets and Accounting
• Accounting Methods Applied Throughout History
• The Age of Virtual Accountants

Accounting thesis topics for accounting students can be chosen according to the interests, and strengths each student shows in a certain period of their education. This can involve multiple accounting research paper topics, with the student now being left to choose the one they master more appropriately.

Usually, companies have weaknesses in different areas, it is a case of whether they are notable. When trying to pick accounting research topics as an undergraduate, you should focus on a singular problem and view it from various angles of prescriptive solutions.

• Inventories of Merchandise
• System Control and Inventory Management
• Manual of Different Accounting Principles
• International Financial Reporting Standards of Negligible Assets
• Procedures for Adopting Financial Reporting Standards
• Tax Culture as a Method of Keeping Companies in Check
• Accounting Guidelines of a Business
• Management Accounting Research
• Automation of Accounting Processes and Its Effects on Businesses
• Data Technology in Accounting Functions

These accounting topics come in forms that pique the interest of accountants and everyday business people. It should be bold, descriptive, and tally with a trending and important issue in all areas that concern the accounting sector. Getting topics like these are not as easy as you would imagine. It usually takes broad-spectrum research and paying rapt attention to business accounting flaws or potential problems.

• Modern Techniques of Debt Management
• Latest Technologies in Digital Accounting
• Fundamental Forensic Accountancy Skills
• Importance of Fast Information Integration for Modern Accounting
• Analysis and Design Risk in Accounting Systems
• Accounting Management and Financial Markets
• Issues in Implementation of Theoretical Accounting Processes in Applied Accounting
• Strategies to Make Organizational Finances Transparent
• Offshore Accounting Processes
• Significance of Financial Markets in Different Economies

When looking for accounting research topics ideas, determining the reason behind the question is the most challenging and vital decision in writing topics for accounting research papers. This difficulty arises because the foundation of your entire accounting topic depends on that one question.

Getting it wrong or mixing up the wrong statements can greatly impair the direction of your accounting topic for a research paper. Some good accounting research questions include:

• How to Investigate Forensic Accountancy?
• How to Avoid Debt Growth in Businesses?
• The Process of Making Accurate and Informed Accounting Decisions?
• How Does Culture Influence the Accounting System?
• Steps to Follow to Become a Certified and Chartered Accountant?
• How to Discover Effective Accounting Systems for Accountants?
• When Do You Need to Hire Personal Accountants?
• What are the limitations of digital Technology Evolution for the Accounting Niche?
• What Factors Facilitated the 2008 Worldwide Financial Crisis?
• What are the Processes Involved in Tax Assessment in Organizations?

In choosing an accounting topic for a project, you need to pick a topic that interests you, writing becomes easy and fast when you do. You can seek out simple accounting research topics if that’s what you can handle, or you could go for current accounting topics and interesting topics in finance.

However you choose to make that decision is up to you, but whatever topics you eventually come up with must not be vague or narrowly written. There should be a balance. Finally, you should extensively research and review your dissertation topic before making your topic decision. Having all these in mind, let’s look at some project topics on accounting.

• Quality in Quantitative Management Accounting Research
• Management Accounting and Supply Chain Strategy
• Notable Trends in Business Research and Accounting Finance and Management Control
• Effect of Auditing On Financial Reporting
• Importance of Fraud Detection in a Digital Environment
• The Globalization of Auditing Standards- an investigative analysis
• Studying the Effects of Intellectual Capital on the Development of Large Industries
• Tax Legislation in Freelance Businesses
• Critical Analysis of the Effects of Small Business Budgeting on Tertiary Institutions

Research papers on accounting involve a great deal of interest in the subject matter being researched. The aim is to enlighten and provide analytical detail to the readers. Also, in choosing a research paper topic, you should aim to acquire your readers’ attention.

This can be achieved by having sound knowledge of the research topic and gathering relevant information to explain the research better. Here are some good examples of accounting topic research papers.

• A Review on Government Management Accounting: Research in 2022
• Business Correspondence Analysis: Its Application in Management Accounting Research
• The Conceptual Framework of Strategic Management Accounting
• Meaning of Accounting Theories for Business
• What Impact Does Accounting Information Systems Have on Business Performance?
• Best Accounting Practices for Online Businesses
• Problems with the Normative Theory of Accounting
• Implementation of the International Public Sector Accounting Standards Board in the University System
• The Relationship between Public Sector Expenditure Accounting and Infrastructural Development
• Application of Accounting Standards in Critical Business Processes of Financial Conglomerates.

In the world of finance, various improvements are to be made with various issues that need solving. Highlighting the need for change and evolution brings about the intention of addressing these issues.

With the inception of digital currencies, new online databases for recording and carrying out financial transactions, there is a wealth of financial discussions to be had. With this fact also comes greater financial issues that need attention. Some eye-opening financial topics you can write about to address some financial systems include:

• Need for Accounting Technology
• Issues of Financial Ethics
• How to Develop and Improve Financial Systems
• Perspectives on Earnings Management
• Effective Methods of Tax Reduction for Organizations
• Role of Financial Markets in Accounting Management
• Methods of Preventing Financial Fraud
• What you should know about the Goldman Sachs Securities Fraud Case
• Commodities in Financial Markets
• Effect of External Factors on Cash Flow

Wrapping up

Accounting thesis topics for students are nearly limitless. Not only with the issues that need solving or understanding, but the different facets of accounting that the world currently operates on that’s why many students are looking for help who will write my thesis , we have good news for such students because we have been doing this for a long time. This gives room for continuous enlightening and improvement due to the various areas accounting comes in contact with. There is the realm of management accounting, auditing, tax accounting, bookkeeping, online accounting, and many more. With the different list of accounting topics and thesis topics suggested, you can pick out any of them and chart your course to become a great accountant in the future.

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Full Project -EFFICIENCY OF ACCOUNTING SOFTWARES IN THE PREPARATION OF FINANCIAL STATEMENTS

EFFICIENCY OF ACCOUNTING SOFTWARES IN THE PREPARATION OF FINANCIAL STATEMENTS

Click here to Get this Complete Project Chapter 1-5

CHAPTER ONE

INTRODUCTION

 1.1. Background of the Study

The increasing globalization of the world economy precipitated organizations the world over to compete in the global marketplace leading to emergence of a new set of accounting challenges such as multiple currencies and follow a horde of accounting and tax rules. Thus, a more refined accounting software packages competent of managing international accounting intricate issues is increasingly in need (Adhikari, Lebow & Zhang, 2004). However, the great technology advancement has rendered the options of using the accounting information from a strategic point of view. The adoption of Accounting Software becomes major aspect in determining the survival, growth and success of an organization as firms require more information, be it monetary or non-monetary, to deal with a higher scale of uncertainties in the competitive market and require data processing capacity and system to ameliorate to suit their information needs (Van de Ven & Drazin, 1984) in this global economy era.

In the world of digitalization today, the digitalization of accounting is the need of hours. With the preface of computerized accounting systems with latest accounting software, many benefits and advantageous factors such as speed and accuracy of operation, simplicity and reliability of operation etc. have change the fate of the accounting world globally. Accounting software is a class of computer programs which enable you to manage your business’s financial transactions. Using accounting software assists organizations to utilize the available resources in their accounting departments efficiently and effectively and also aid to reduce costly bookkeeping or accounting mistakes. In the field of accounting and finance, the use of manual reporting of financial statements has been replaced by the use of computer software to facilitate quick reporting and easy processing and storage of financial information, hence due to facilitation of accounting software, preparation and access of financial statements and use of accounting procedures has been made easy (Kharuddin et al., 2010). In the present business world, the failure to apply and use computer software indicates that financial information may not be accurate, delays in financial reporting, and that financial information may not be stored for a long time

Accounting is the systematic art of recording, classifying and summarizing in a significant manner and in terms of monetary, transactions and events which are, in part at least, of financial character, and interpreting the results thereof. Accounting can also be referred to as an information system that measures, processes and communicates financial information about an economic entity. Advancements in information technology have significantly improved accounting systems and transformed economic life, (Adefila, 2008). Computers and other digital technologies have increased office productivity and general performance facilitating the rapid exchange of documents, research, collaboration with far-flung partners and the collection and analysis of data. Information technology gave all sorts of individual economic actors the new valuable tools for identifying and pursuing economic and business opportunities.

Financial Statements deals with the application of computers to process financial transaction, such as retrieve, transmit and manipulate data. This could also be described as anything that renders data, information, or perceived knowledge in any visual format through any multimedia distribution mechanism, (Shanker, S. 2013).

Accounting takes a vital role in operating an organization. All businesses must keep track of their financial information that relates to its business activities. It also has numerous processes; some easy, others complicated and burdensome. However as the business increases, acquires new clients or customers, enters new markets and keeps pace with constant changes in information technology, organizations need to maintain highly accurate and updated accounting, inventory and statutory records (Igbaria et al, 1997). With a substantial increase in the volume of accounting transactions and increase in exposure of information to errors due to complexity of these accounting systems, there was a need for a system which could store and process accounting data with increased speed, storage, and processing capacity. This led to the rise in the development and introduction of accounting software packages (Igbaria et al, 1997).

Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the organization using it, may be purchased from a third party, or may be a combination of a third-party application software package with local modifications (Wikipedia, 2016). Accounting software may be on-line based, accessed anywhere at any time with any device which is Internet enabled, or may be desktop based. It varies greatly in its complexity and cost. The market has been undergoing considerable consolidation since the mid-1990s, with many suppliers ceasing to trade or being bought by larger groups.

In many cases, implementation of accounting software (i.e. the installation and configuration of the system at the client) can be a bigger consideration than the actual software chosen when it comes down to the total cost of ownership for the business. Most midmarket and larger applications are sold exclusively through resellers, developers and consultants. Those companies generally pass on a license fee to the software vendor and then apply charges to the client for installation, customization and support services. Clients can normally count on paying roughly 50-200% of the price of the software in implementation and consulting fees.

With the advent of faster computers and internet connections, accounting software companies have been able to create accounting software paid for on a monthly recurring charge instead of a larger upfront license fee. The rate of adoption of this new business model has increased steadily to the point where legacy players have been forced to come out with their own online versions. Cloud accounting software seems to more rapidly adopt by areas where prices are generally higher due to higher shipping costs and price discrimination practices (Chau, 2001).

The use of accounting software will lessen the data processing time that usually takes a longer time if done manually or by hand and processing can be accelerated significantly and with a better level of accuracy. American institute of Certified Public Accountant (AICPA) has created a new certificate of Certified Information Technology Professional (CITP). The CITP is certification for the accountants who have a broad knowledge in the field of technology and understand how the information system technology can be used in a variety of organizations. This reflects the AICPA recognition of the importance of information technology systems in relation to accounting (Agarwal & Prasad, 1997).

An accounting student is required to be able to follow information technology developments because by understanding and knowing the technology progress and development, students can implement the accounting information system technology, which is expected to make the student more competent, especially in the field of information systems technology. Accounting students are required to become competent accountants, for example, in the field of information systems technology. This is supported by the number of companies that expect accounting graduates to have a good knowledge of accounting, which is supported with specific expertise (soft skills) in the information systems technology field, such as accounting software.

1.2 Statement of the Problem

Since the 1950s, when technology started to be applied in business (Otieno and Oima,2013), most developing countries in the world have abandoned the use of a pen and a paper and started to adapt to the use of accounting software to facilitate generation of quality, quick and accurate financial reports. However, due to other poverty and other related issues, there is lack of consistency coupled with irregularities registered in the field of technology which handicap the regular use of accounting software and computerized accounting system. Studies to evaluate the impact of using this technology to generate financial reports are limited. This study intends to assess the   efficiency of accounting software in the preparation of financial statements.

1.3 Objectives of the Study

The following are the objectives of this study:

• To investigate the impact of accounting software on the bank payroll financial preparation and reporting in the banks.
• To examine the associated benefits of accounting software on financial reporting in the banks.
• To identify the disadvantages of accounting software on the accounting information system in the banks.

 1.4 Research Questions

Based on the following objectives of the study, the following research questions were postulated;

• To what extent is the impact of accounting software on the banks payroll financial preparation and reporting in the banks?
• What are the benefits associated on the use of accounting software on financial reporting in the banks?
• What are the disadvantages of accounting software on the accounting information system in the banks?

1.5. Research Hypotheses

The following hypotheses were tested in their null form

Ho: There is no significant impact of accounting software on the banks payroll financial preparation and reporting in the banks.

Ho: There is no significant benefit on the use of accounting software on financial reporting in the banks

Ho: There is no significant effect of the disadvantages of accounting software on the accounting information reporting in the banks.

1.6. Operationalization of Variables

Efficiency of accounting software in the preparation of financial statements.

The above topic have two variables, namely; Accounting Software (independent) and financial statements (dependent variables), to be represented as X and Y respectively.

X = Independent (Accounting Software)

Y = Dependent (Financial Statements)

The independent variable (accounting software) will be a constant variable

Elements of (X) Accounting software

X1 = Accounting Software

X2 = Benefits of Accounting Software

X3 = Disadvantages of Accounting Software

Element of (Y) Financial Statements

Y1 = Payroll

Y2 = Financial Reporting

Y3 = Accounting Information System

1.7. Significance of the Study

The following are the significance of this study:

• The results from this study will educate on the impact of accounting software on the processing and management of financial statement.
• In today’s business environment, most financial accounting systems have been computerized and automated with little or no paper documentation. Technologies have greatly changed the nature of audits which have so long relied on paper documents. Auditors or Accountant performing attest services for clients that process financial transactions electronically therefore need to go extra miles to be professionally and technically competent in order to perform an acceptable audit.

 1.8. Scope of the study

This study is on the efficiency of accounting software in the preparation of financial statement in 5 selected banks in Benin City which are First bank, Guaranteed Trust Bank, Diamond Bank, Access bank and First City Monument Bank.

1.9. Definition of terms

Accounting Software : describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance.

Accounting Information System : is a structure that a business uses to collect, store, manage, process, retrieve and report its financial data so that it can be used by accountants, consultants, business analysts, managers, chief financial officers (CFOs), auditors and regulatory and tax agencies.

Trial Balance : is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements

Financial Statement : is a formal record of the financial activities and position of a business, person, or other entity.

1.10. Chapterization

The research understudy shall encompass 5 chapters, which are as follows;

Chapter one shall comprise the introduction and body of the topic; Chapter two entails the literature review, empirical framework, conceptual framework and theoretical framework; Chapter three consists of the research methodology and design, research instrument, sample and sampling size; Chapter four entails data presentation and analysis, while Chapter five shall be the concluding part, which includes the summary of findings, conclusion and recommendation.

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