ACCOUNTING SOFTWARE AND QUALITY OF CORPORATE REPORTING IN PROFIT ORIENTED COMPANIES

Abstract

Tracking the various business parameters variables related to the business’s goal is a difficult task to do without the right tools. Failure to properly put in place accounting processes that oversee and manage such parameters has led to the demise of many promising small and big organizations. This work looks into how the use of accounting software affects the quality of reporting while focusing on the tools and application modules that make the process hitch-free. Because of the lack of local data and feedback from first-hand operators of accounting software, the study infers knowledge from other works on the effectiveness of accounting software in organizational reporting. It also looks into the tools that come with Microsoft Excel, one of the most widely used accounting software in Nigeria. We make use of sales data gotten online to implement this tool and the result shows that the Microsoft Excel application is capable of minimizing errors, automating tasks, and forecasting. By making use of Excel Solver, we were able to determine the percentage of the baby food product that must be sold at the highest price to maximize profit. the solution model shows that at the lowest forecast rate of 67%, the organization will make $163,875,000.00 and $180,000,000.00 at 100%. The study concludes that accounting software is critical to the overall well-being of corporate organizations in Nigeria as it brings about a profound ease of corporate accounting processes