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Abstract
This research aimed to identify the computerized accounting systems employed by Nigerian SMEs, examine the extent to which Nigerian SMEs utilize the built-in internal control features in their computerized accounting systems, as well as explore the perceived reasons for the underutilization of any of the computerized accounting systems internal control features. The researcher employed the survey methodology in the conduct of the study, and data was collected using questionnaire administered to the an accounting officer in each of the 370 firms randomly selected from the population of SMEs in the south-south region of Nigeria. The research data was analyzed using frequencies, mean, standard deviation, and the one-sample T-test statistics. The results of the study indicate that Nigerian SMEs employ various accounting software in the performance of their accounting function, with QuickBooks, Peachtree (Sage 50), and MS-Navision being the most used. The study also indicate that Nigerian SMEs optimally utilize the built-in internal control features in their computerized accounting systems. The reasons for the underutilization of a few of the internal control features by firms are indicated in the study to include lack of awareness of the availability of the internal control features in their accounting systems, limited number of accounting staff, and lack of formal internal control policies. This study extends the body of knowledge in accounting, and its results would be useful to those in the academia, management and accounting personnel of SMEs, and other practitioners. Areas for further research have been suggested to confirm and extend the outcome of this study. Keywords: Accounting information systems, Computerized accounting systems, Access controls, Accounting software, Accuracy checks, Audit trail, Internal controls, Segregation of duties, Security controls, Small and medium enterprises DOI: 10.7176/RJFA/11-17-03 Publication date: October 31 st 2020
Highlights
Accounting system remains one of the most important information systems within an enterprise and has gradually moved from the originally manual systems to computerized systems (Qatanani & Hezabr, 2015)
5.2 Conclusion and Recommendations The results of the study indicate that Nigerian small and medium enterprises (SMEs) optimally utilize the built-in internal control features in their computerized accounting systems
It has highlighted the computerized accounting systems used by SMEs in Nigeria, with QuickBooks, Peachtree (Sage 50), and MS-Navision as the most-used accounting systems
Summary
Accounting system remains one of the most important information systems within an enterprise and has gradually moved from the originally manual systems to computerized systems (Qatanani & Hezabr, 2015). This study, sought to extend the study by Steckel (2011) beyond QuickBooks to other accounting software by exploring the extent to which SMEs in Nigeria optimally utilize the built-in internal control functionalities in their various computerized accounting systems. This questionnaire is a research instrument administered to collect data for a research paper on the utilization of built-in internal control features in computerized accounting systems amongst small and medium enterprises in Nigeria.
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