THE IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY(ICT) ON ACCCOUNTING PROFESSIONS IN CAMEROON.
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To examine the impact of ICT on accounting professions and to contribute to the body of knowledge about what extend ICT affects the ability to solve accounting task.
Accounting is the process of identifying; classifying, recording, and presentation of financial transactions of an entity to facilitate decision making by the users of the information. This process is usually done manually with the use of separate ledgers to record financial transactions. There is no doubt that manual system is cheaper than automated accounting system, which is one of the reasons why small businesses still use it. But as a business grows, there is a need for a shift from manual accounting of financial statements to automated processes. That is, information and communication technology especially in today’s generation where most transactions are done with the use of electronic gadgets such as computers, computer software and internet. The accountant only needs to enter the transactions into the software which simply performs computations and presentation there by relieving the accountant from such task. ICT has been around for a long time as long as people have been around because thee were always ways of communication through technology available at that point in time. There are four(4) main ages that divide up the history of ICT which include: pre-mechanical, mechanical, electromechanical and electronic
Statement of the problem: this study seeks to evaluate the degree of ICT adoption by accounting professionals in the preparation and presentation of financial reported accounts, to what extend are the accountants literate with the use of ICT, and hoe relevant is ICT in today’s accounting profession.
4(four)hypothesis will be set on the four research objectives.
Ho: ICT has no significant impact on transaction report of selected companies.
Ho: ICT has no important in training requirement of accountants.
Ho: ICT has no impact on improving financial performance of selected companies.
Ho: there are no challenges associated with integration of ICT into accounting professions in Cameroon.
A question is a worry. For the purpose of this study, the following questions have been put in line.
- To what extend has ICT impacted on the transaction report of the selected companies.
- What are the challenges associated with adopting ICT in accounting profession.
- How has ICT improve the financial performance of the selected companies.
- What is the importance of training requirements of accountants.
Objectives of the study
The primary objective of the study is to examine the impact of ICT on accounting professions in Cameroon.
The specific objectives are:
- To access the impact of ICT on financial transaction report of selected companies.
- To examine the effects of ICT implementation on the financial performance on selected companies.
- To evaluate the challenged associated with the integration of ICT in accounting professions.
- To analyze the importance of ICT in training requirement.
JUSTIFICATION FOR THE PROPOSED RESEARCH
When a company is large in size there is a need for ICT especially when it concerns accounting. ICT include communication devices, applications, and network hardware and software. For a company to attain efficiency and effectiveness, it will require capacity to process accurate and timely information, hence the need for information and communication technology (ICT). The study will also provide useful information to students in the field of accounting. Finally it will serve as a guide for further research work on related topics.
SCOPE OF THE STUDY
The period of study is 2021. The scope adopts 5 companies in Limbe and Buea Cameroon that has employed ICT in the reporting and preparation of their financial statements.
PRELIMENARY LITERATURE REVIEW
Accounting professions: it is considered to be an important profession in current business world. Onaolapo and Odetayo (2012) identifies as the language of business as it records all transactions of an individual firm that can be measured in monetary terms.
Information technology: it is the application of computers to store, retrieve, transmit and manipulate data often in business context.
Information and communication technology: IT can be define as the sharing and impacting of information through the study of and use of computers for the storing and transferring of information. ICT assist accounting profession to implement and achieve good practices (Kwanchukwu, 2004). Here details about information and communication function, the uses of IT in accounting profession, human threat to IT .
THEORITICAL FRAME WORK
Information and communication theory: this theory founder is Claude Shannon, this theory is also referred to as the mathematical theory of communication. This theory has provided much guidance for the design of more reliable systems and has reshaped the boundaries between what is possible and not possible in communication.
Technology acceptance theory: the most cited theory was the Technology Acceptance Model (TAM). Davis (1989) presented a theoretical model aiming to predict and explain ICT usage behavior, that sis what causes potential adopters to accept or reject the use of IT. TAM is based on theory of Reasoned Action (TRA).
Conveyance theory: it illustrate on going changes in the society. However, the theoretical model goes back and synthesizes the theoretical framework in research on psychosocial work environment and computerization interdiscipling research programs were initiated by the author in the 70th. The description of the conveyance model is structured with reference to the concept of globalization, ICT, life environment. The conveyance technologies are: computer technology, tele-technology and media technology.
PROPOSED RESEARCH METHODOLOGY
It is the process of collecting data for research work. This section describes the techniques and procedures used in the course of conducting this study and gathering the data for this study. This research is designed to survey the application and impact on ICT on accounting professions. It include description of the study population, sample size, sample techniques, source of data, method of data collection, method of data analysis and testing hypothesis.
Research population: The study population of this research work is staff members relating to accounting profession, such as finance manager, tax accountants, managers, sales managers, accounting clerk, accounting intern, bookkeepers, cashiers, auditors, accounting payable clerk etc, of the five (5) companies.
Sample and sampling techniques: A sample is a sub set of the entire population. The sample for this study is drawn from the staff members related to accounting professions of the selected companies using convenience non probability sampling techniques of 15 members of staff each.
Research instrument: the instrument is a closed ended structured questionnaire administered to staff members of the selected companies. The questionnaire is to be designed in such a way to enable the correspondent to provide answers as to the impact of ICT on accounting profession and the problem associated with it. The questionnaire will contain a five likert summated rating scale.
Data collection techniques: source of data to be employed is primary.
Data analysis technique: the data are to be analyze using chi-square statistical tool. The statistical package for social science (SPSS) is to be employed for the data analysis.
Using strongly agree, agree, neutral, disagree.
- The use of ICT has enhanced the financial transaction process of the organization.
- The implementation of ICT has helped to improve financial transaction report of the organization.
- Adoption of ICT has increased the efficiency of account and its staff members in the organization.
- Cost of ICT installation for accounting processes is high.
- ICT directly affects the organization’s financial performance.
- Information reported are accurate and reliable foe effective decision making.
- Frequent evaluation of the organization financial performance is made easy with the use of ICT.
- ICT directly affects the organization’s performance.
- Maintenance cost of equipment is considerably high.
- Lost of data by operator or software error might occur anytime.
- Only accountant with the technical expertise can use the automated accounting system.
- There is an uninterrupted power supply to ensure proper function of ICT.
- Accountants in an organization are ICT compliant.
- ICT skill is a requirement for employing accountant in the organization.
- Job performances of accounting staff without ICT skill are highly constrained.
- Accounting staff that lacks ICT skills are often redundant.
CHAPTER ONE: This chapter comprises of the background of the study, statement of the problem, objectives of the study, research questions, research hypothesis, significance of the study and scope of the study.
CHAPTER TWO: critical review related literature, conceptual clarification and theoretical framework related to the study.
CHAPTER THREE: Examine the research methodology. Present the research design, the population, the sample size, the nature and source of data, the method of data collection, the technique of data collection, the techniques of data analysis, the decision rule and summary.
CHAPTER FOUR: Discussed data analysis which include: data presentation, test of hypothesis and the results of the finding.
CHAPTER FIVE: This chapter gives the summary of findings and conclusion from the research work. Recommendation, limitations of the study and suggestion for further research.
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