THE IMPACT OF COMPUTER IN PROCESSING ACCOUNTING INFORMATION IN NIGERIA COMMERCIAL BANKS
Financial accounting can be defined as the process of collecting, recording, presently and analyzing and interpreting financial information for the users of financial statement [Robert, O. Igben 2007]
Accounting is the language of modern business, a tool for business decision making. It is used by people associated with business, whether they are managers, owners, investors, bankers, lawyers, and accountant. It provides financial information to people inside and outside the organization who need and are authorized to have such information. A system like a computer in the most general sense of the word is a group of interrelated components that processed inputs into outputs to meet some objectives.
An accounting information system is a group of components that processes raw data into financial information to meet the purpose of these internal and external users, however, when we talk of accounting information system we invariably refer to computer assisted techniques in accounting [Warren, 1997].
The objective of financial information is to provide useful information for making economic decision. The process of recording, aggregating and summarizing the effects of historical transactions in financial statements under a specified set of rules constitutes the bulk of financial accounting. Organizations such as commercial banks need the accounting information in carrying out their operations and transaction. Fortunately, the electronic computer as an electronic device for storing and analyzing information fed into it, for calculate or for controlling machinery automatically could be used to perform commercial banking products and operations and also aids managerial decision makers in planning and controlling of various business activities [Warren, Reeve, Fess, 1997].