Abstract
The ongoing advancement of information technology has affected accounting information systems; PCs become smaller, quicker, simpler to utilize and more affordable prompting the computerization of accounting information systems. This research is therefore designed to examined the impact of computerized accounting systems on quality financial reports of banks in Ghana. The instrument of data collection was the survey method. The study population comprised of all banks listed on the Ghana Stock Exchange. The quantitative research approach was adopted for the study and data processed using Statistical Package for Social Sciences (SPSS) programming version 21. Findings from the study discovered that taking all other autonomous factors at zero, a unit increment in automated computerized accounting system will bring about 0.50 increment in the quality of financial reports of banks. The implication of this study is that, for banks to have quality financial reports efforts must be made to invest in computerized accountings systems so as to improve the speed, practicality, accuracy and relevance of the financial reports of their operations. Keywords : Financial Reports, Banks, Computerized Accounting, Quality Reports, Information Technology DOI: 10.7176/EJBM/12-17-12 Publication date: June 30th 2020
Highlights
Accounting is the basic foundation of any business, large or small proprietors, profit making or non-benefit making associations
Amveko (2011) in which she aimed to identify the impact of accounting information systems on financial reporting in Kampala, the financial reports generated conform to some of the quality attributes of good financial www.iiste.org information. This was emphasized by a positive correlation of response on quality attributes of timeliness and accuracy; though it was on a low scale her findings were that computerized accounting system has an influence on the quality of financial reports for publication purposes
5.0 Summary and Conclusion The study showed that quality of computerized accounting systems affects the quality of financial reports of banks to a great extent
Summary
Accounting is the basic foundation of any business, large or small proprietors, profit making or non-benefit making associations. Several small businesses do their bookkeeping manually and they are fulfilled. Manual and modernized accounting frameworks perform essentially similar procedures, accounting standards and ideas are the equivalent with contrasts lying in the details of the procedure. According to Sugut (2012) accountability refers to a condition under which a role holder renders account to another so that judgment may be made about the adequacy of performance. Vance (2015), equate accountability to reporting and to the justification of performance, they continue to describe accountability as the implicit and explicit expectations that anyone may be called upon to justify one’s belief, feelings and actions to others. As information technologies grow more progressively, the manual accounting systems have become gradually inadequate for decision needs Brecht and Martin, (2013)
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