Effect of I.T on Accounting System in Nigeria Essay Example

Effect of I.T on Accounting System in Nigeria Essay Effect of I. T on Accounting System in Nigeria 1. 0 Introduction Information Technologies significantly affect human as well as other animal species ability to control and adapt to their natural environments. The human species use of technology began with the conversion of natural resources into simple tools. Information technology (IT) has created significant benefits for various profession as well as deferent aspect of the world economy. The application of the networks system has shortened the lead time needed by accountants to prepare and present financial information to management and stakeholders. Not only has IT shortened the lead time required to present financial information, but has also improved the overall efficiency and accuracy of the information. Advances in Information Technology (IT) have transformed many firms in professional services industries, but perhaps none as much as those in the public accounting industry. Once a slow-paced and conservative industry, public accounting underwent tremendous changes at the turn of the millennium, sparked largely by the rapid changes in its IT environment (Elliott 2000). Audit software and knowledge-sharing applications are two crucial components of these changes. Automation of audit tasks and use of specialized audit software has substituted IT for labor and changed the structure of audit teams. Equally important is the use of advanced systems to share knowledge bases across different parts of the organization that has enabled professional services firms to leverage their human resources more effectively (Gogan et al. 1995). With rapid advances in IT, numerous articles have appeared in practitioner-oriented accounting journals that discuss how to invest in IT to keep up with the current technology (Smith 1997; Zarowin 1998). We will write a custom essay sample on Effect of I.T on Accounting System in Nigeria specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Effect of I.T on Accounting System in Nigeria specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Effect of I.T on Accounting System in Nigeria specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The pace of change brought by new technologies has had a significant effect on the way people live, work, and play worldwide. Information technology, while an important area of study in its own right, is having a major impact across all curriculum areas. Easy worldwide communication provides access to a vast array of data, challenging assimilation and assessment skills. In keeping with their complex nature and multiple applications, Information and Communication Technologies (ICTs) may be viewed in different ways. The World Bank defines ICTs as â€Å"the set of activities which facilitate by electronic means the processing, transmission and display of information† (Rodriguez and Wilson, 2000). ICTs â€Å"refers to technologies people use to share, distribute, gather information and to communicate through computers and computer networks† (ESCAP, 2000). ICTs can be described as a complex varied set of goods, applications and services used for producing, distributing, processing, transforming information- (including) telecoms, TV and radio broadcasting, hardware and software, computer services and electronic media† (Marcelle, 2000). ICTs represent a cluster of associated technologies defined by their functional usage in information access and communication, of which one embodiment is the Internet. Hargittai (1999) defines the Internet technically and functionally as follows: â€Å"the Internet is a worldwide network of computers, but sociologically it is also important to consider it as a network of people using computers that make vast amounts of information available. Accounting as a broad field that involves several subjects and where several theories and modern technological tools are being applied has experienced several changes from such aspects as theories, principles and conventions as well as in the aspect of technology. The modern world also change as a result of several factors such as education, technology etc. The changes in different aspect of the globe are traceable to the invention and application of technology. The extent to which technology affected organizations, the modern society and individuals has attracted considerable attention. The computer installations are widely distributed in universities, government departments and agencies, banks, commercial establishments, and industries. It must be realized that the private sector has, however, risen to a position of dominance in the use of computers. 1. 1Background to the Study History of I. C. T in Nigeria In Nigeria, the ICT space is still a twin with a clearly fast-paced telecommunication sector and growing Information Technology section with respected reports often citing Nigeria’s Telecommunication market as one of the fastest growing globally. The Nigeria telecommunication industry is now over 100 years old. But it was only in 1999 that National Policy on Telecommunication was launched. A national Policy on Information Technology followed in 2001. Along with the establishment of the National Information Technology development Agent under the Federal Ministry of Science and Technology (Data and Sesan 2003). Nigeria is also one the countries in Africa that has benefited from support from the United Nations Economic Commission for Africa in the area of National Information and Communication Infrastructure (NICI) policy. Even though, the discussion on the need to harmonized the various aspect of the nation’s ICT space met with initial skepticism and is only now being discussed at the level of National consultative group that it set to deliver and an ICT for development spurred on by Nigerians’ participation in world summits on the information Society process which helped shed more on the need for Nigeria to benefit from the undeniable convergence that has brought Information Technology. Telecommunication and content together for good. In a bid to establish it seriousness about ICT harmonization, the Federal Government set up a 26 man presidential task force. On the 22nd of August 2006, the task force was saddled with the responsibility of restructuring government institutions and organizations in the Telecommunication and Information Technology sector in Nigeria. It worth of note that till date, the nation’s telecommunication sector has shown leadership in the nation’s overall ICT role. In December 2000, Nigeria had 450,000 connected fixed lines, no connected digital mobile line, one national carrier eight (18) operation Internet service providers, Nine (9) active licensed fixed-line operators, and one licensed mobile operator (Ndukwe 2005). In same period, Nigeria had 200,000 internet users (internet world Statistic, 2005). Even though many expert disagreed with the figures. The reasons for the disagreement is not far from the fact that there always multiple users form the public terminals in the popular cyber cafes that dot the entire landscape, especially in the major cities across the various regions of the country. Private investments in the ICT also rose from an almost zero value to about four billion dollar ($4,000,000,000) between 1999 and 2003 (Ndukwe, 2005). Nigeria’s ICT space has improved significantly from 400,000 line in 1996 to over 14 million lines in 2005 owing to independent regulation through the Nigeria Communication Commission, private sector participation on broadened competition. 1. 2Statement of the Problem Long ago, Accountants in Nigeria carried out there professional duty of recording and reporting financial statement undergo extraordinary task of paper work and filling of documents that is prone to misplacement, time consuming, human error in computation of figures and several other financial datum to mention but just few. The introduction of computer services has created its own problems which rage from the type of installation, the employment of qualified personnel to operate them, the cost of installation and maintenance and cost of software packages etc. The act of manipulating company’s account in order to make the company performance appeals more favourable than it is actually are (window dressing or creative accounting) is in practiced. The Nigeria banking sector has recorded numerous numbers of financial irregularities a problem that the Nation in general still hunt for it solution. This research work therefore intends to investigate how and to what extent has information technology contribute to the numerous financial irregularities reported daily? To what extend has technology shift the application of accounting principle and conventions in terms of manual recording of transactions? Is there any significant difference between the pre-era and the era of technology in accounting as a profession? To what extent has the making, usage, and knowledge of tools, machines, techniques, programs, and systems contributed to the growth and development of accounting? 1. 3The Purpose of the Study The main purpose of this research work is to ascertain: i)The effect of the application of Information Technology on accounting profession in Nigeria. ii)The factors influencing changes in accounting system. iii)The likely effect of Information Technology on Accountant roles in the future. 1. Significant of the Study The main purpose of this research work is to contribute to the existing body of knowledge on the impact/ effect of Information Technology on Accounting System and Development in Nigeria. The study/ research work will no doubt benefit the following group i)The users of financial statements ii)The professional accountants iii)The undergraduate accounting students iv)Financi al organizations 1. 5 Scope of the study In this work, among other researches that will be included, attention will be mainly on the following areas a)The traditional role of accounting and accountants )Methods of recording transaction c)Presentation and analysis financial information as well as interpretation. d) The importance and relevancies of the technological tools, machines, techniques, programs (software packages) in performing above functions. 1. 6Research Questions (1)To what extent does Information Technology affect the Accounting principles and conventions? (2)To what extent does application of Information Technology contribute to financial crimes reported on daily basis? 3)To what extent does Information Technology contribute to the reliability of accounting productivity? Operational Definition of Terms Computer: A computer can be defined as an electronic machine that can accept data as input, process it, store and produce result as an output or an information. Informat ion Technology: Computer based information management systems allowing a financial institution to collect information from many different sources and develop a composite picture about its customers, its market position in different financial centres, and its net exposure in those markets. Profession: A profession is a vocation founded upon specialized educational training, the purpose of which is to supply disinterested counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain. Accounting: Accounting is the process of recording; classifying, selecting, measuring, interpreting and commutation of financial data of an organization to enable users make assessments and decision. It is a discipline which comprises a set of theories and concepts for processing financial data. Auditing: Auditing is an independent examination and investigation of the books of account and vouchers of a business with a view of enabling the auditors to report whether the balance sheet and profit and loss account are properly drawn up so as to show a true and fair view of the state of affairs and the profit or loss of the business according to the best of the information and explanation obtained by the auditor(s). Automated Teller Machine: Device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. The strip contains an identification code that is transmitted to the banks central computer by modem. Internet: a worldwide network of computers. Hardware: are component devices which are typically installed into or peripheral to a computer case to create a personal computer upon which system software is installed including a firmware interface such as a BIOS and an operating system which supports application software that performs the operators desired functions. Softcopy is the unprinted digital document file. This term is often contrasted with hard copy. It can usually be viewed through an appropriate editing program, such as word processing programs, database programs, or presentation software, depending on the file type Input is the term denoting either an entrance or changes which are inserted into a system and which activate/modify a process. Output: Information obtained from computer e. g. line printer, visual display unit (VDU). Effect: The powerful impact that something (computer or non computer) has on another thing, say Accounting profession. Data: This unprocessed fact from which information is processed. Financial Information: The information stating the amount (N) a transaction existing between a fir and its clients or customer at a given period of time. Sources of financial information are invoice, receipt, debit and credit notes, etc. Financial Statement: This statement showing the assets and liabilities and the financial position of a firm at the end of an accounting period. Window Dressing: The act of manipulating company’s account in order to make the company performance appeals more favourable than it is actually are. Reference: L. A. Ogunsola and W. A. Aboyade Information and Communication Technology in Nigeria: Revolution or Evolution,Hezekiah Oluwasanmi Library, Obafemi Awolowo University, Ile-Ife, Nigeria http://www. infoplease. com Thomas P. Fitch: Banking Dictionary: Dictionary of Banking Terms, 5th Edition, published by Barrons Educational Series, Inc. Sidney Webb and Beatrice Webb: New Statesman, 21 April 1917, article by the UK Competition Commission, dated 8 November 1977, Kaka O. A, Arowolo O. A, Olufowobi, A. J, Longe O. B. (2008): Basic Computer Operations Their Applications, Published by Boskay Computer Services

Criminal Justice Research Paper Writing Guide for the Bravest Students

Criminal Justice Research Paper Writing Guide for the Bravest Students Criminal justice is one of the most important academic disciplines in the faculty of social science. Enrolment in criminal justice studies keeps on increasing each year. In the year 2016, more than a hundred thousand students in the United States graduated with a degree/diploma in criminal justice. This number has steadily been increasing since 2010, which shows increased interest in the study of crime and criminal-related activities. There are different career paths in criminal justice. Some of the major areas in criminal justice include: Ideology and history:   criminology, the architecture of prisons, competition definitions of justice, Victims’ rights and families, restorative justice, reforms versus punishment among others. Life in prison: incarceration rates, recidivism, prisoner abuse, rehabilitation and education among others. Criminal justice and money: prison labor, private prisons, white-collar crime, and fraud and so on. Policies, procedure and laws: Three strike rules, mandatory sentencing, jury selection, and jury nullification. Race and racism: Racial profiling, White supremacy and hate crimes among others. Criminal justice and community: juvenile justice, activism among others. From the above topics, criminal justice covers every aspect that touches on our lives. As a criminal justice student, you must be able to understand these topics and emergent issues related to them. We can synthesize the topics listed above and understand ways in which they affect us is by conducting a research study. Research studies are the heart of any academic discipline. The main reason why we spend time analyzing different issues that affect our lives in the society is to develop better interventions that can help address them. Criminal justice research studies enable us to acutely understand the problem and develop positive solutions. In several occasions, your instructor will ask you to write a criminal justice research paper that comprehensively discusses a problem. You need positive skills on how to prepare, organize and write an effective criminal justice research paper in order to pass the course. It is important to point out that a research paper is different from other types of writing such as a term paper or an essay. This piece offers you a step-by-step guide on how to write a criminal justice research paper the best way possible. Purpose of Writing a Research Paper in Criminal Justice Studies First, it is important to outline some of the reasons why you should take your research paper seriously. Writing a research paper serves important purposes in the field of criminal justice. Below are some of the reasons for writing a criminal justice research paper: Solving a Mystery: As previously explained, the field of criminal justice is full of unsolved problems. Not so much is known about why people commit a crime or the underlying reasons why some children from some certain social backgrounds are more predisposed to criminal acts than others. You get to solve these mysteries when you write a research paper. In other words, you want to provide answers to questions that you and other people including the law enforcers have concerning different issues. Sharing â€Å"Intelligence†: You will be hearing the phrase â€Å"sharing intelligence† more often than you think in your career as a law-enforcer. It simply means that you distribute the information or insight you have about an issue with the rest of the criminal justice system. This is exactly what you are expected to do during your academic research work. You write research papers to share what you have discovered about a criminal justice issue with the rest of the world. For instance, you may need to share your ideas and suggestions on the issue of the death penalty or child pornography with the relevant policy-makers in order to guide them on their decision-making process. We can only know about what you think about an issue through your research papers. Earn Grades: Writing a research paper is a prerequisite condition for earning grades in criminal justice studies. Your professor needs to assess you based on your ability to identify and synthesize a problem and articulately present a solution. It is necessary to get the results right for better grades. Pre-Writing Tips Reflect: Before you embark on writing, you must take some time and reflect. Try to think of the purpose of the research and the value it seeks to bring to you as a criminal justice professional. Besides earning the grades, you should appreciate the broader purpose of your research paper. Reflect on questions like: who would benefit from my research paper? How would it solve a social problem and make the society a better place? Brainstorm: In this case, brainstorming is different from reflection. Reflection is more about looking at the bigger purpose of the activity and relating it to your personal and professional objectives. On the other hand, brainstorming is topic-based. You should endeavor to brainstorm about the topic and the research question that you have while taking notes. If you are discussing the influence of the prison systems on individual behaviors, attempt to write the random ideas that come to your mind down.   This will help in your proceeding research writing steps. Consult: Understand and appreciate the fact that no one is a custodian of knowledge. The problem you wish to solve may have been elusive for a long time. You need ideas and suggestions from different people. Be humble enough to seek support from your professors, peers and even external sources such as lawyers, security consultants and others. Research: A research paper requires an extensive exploration of issues that surround the research question. You must consult different primary and secondary sources. Select the databases that have the most relevant information that relates to the topic you intend to explore. Format and Structure The number of components in a criminal justice research paper may vary depending on the nature of the study. However, most research paper often includes the introduction, literature review, findings, discussion, conclusion and recommendations. The introduction contains the general background of the problem, the research question, research objectives, purpose of the study and thesis statement. In the literature review section, you are expected to report on and discuss the findings of different past empirical studies. Try to show how scholars argue and counter-argue on the research problem. Methodology section specifies the data collection methods, research design participants among other element. The findings sections comprise the results of your study. Include what you have discovered from the review of the literature and from the primary sources. The discussion includes the interpretation of the findings as well as implications. The conclusion and recommendation section recaps on the research problem, the thesis statement and summarizes the findings before suggesting the way forward. Steps in Research Writing Process: How Our Writers Work on Criminal Justice Research Papers Developing your paper from a folder of brainstormed ideas to a fully polished research paper requires a critical attention to different aspects. It is important to point out that not every criminal justice research paper are the same. However, they all follow a similar process that begins by choosing a topic and ends in editing and proofreading the final copy. The steps include: Choosing a suitable topic; Planning and schedule how to research and write the paper; Conducting an extensive research; Organizing the data collected; Drafting your research paper; Editing and proofreading the paper. Step One: Choosing a Topic Do not forget the importance of a research topic in any research paper that you will ever write in criminal justice. Your professor will spend as much as they want on rejecting your topic until you get it right. You need a topic that is relevant, appropriate and researchable. The aim of your research is to identify a problem, analyze it and suggests solutions. This implies that your topic must be linked to the research question that you have. As previously noted, criminal justice is a wide area of study with numerous topics to research on. Do not limit yourself when developing a topic. Frame your research question in a way that allows you to classify in a broader system of topics. Some of the topics you can focus on include: Gang identify Cybercrime Police brutality Political prisoners Drug war Death penalty Sexual crimes Domestic violence Immigration issues Civil rights Censorship Step Two: Planning and Scheduling Scientific research studies are often tentative. You must take your time and plan well on how you will go about the whole process. Take your time and develop a research plan and schedule that will guide on how to collect the required data, analyze and write the research paper. The reason for this scheduling is because you do not need to be overwhelmed with a lot of work when the deadline approaches. You need to allocate enough time for every activity to ensure that you meet all your objectives. You should also organize the tools and resources that you will require to complete your research process. For instance, you should state when and where you would conduct your consultations. Research projects in criminal justice may run for weeks or even months. This means you may need to organize yourself for the daunting task. Tip: Allocate adequate time for demanding tasks. Step Three: Conducting Research Unlike essays or term papers, a research paper requires â€Å"hard evidence†. You must understand that your opinion may only matter if it is supported by facts. You need to go out and find these facts and evidence to support your arguments. You will most likely use primary and secondary sources. These may include books, journals, research reports, periodical, news articles, and interviews among others. Be careful to include only those that are credible and authoritative. The primary sources should provide your research with first-hand data. For instance, your interview with an inmate may present real-life experiences in prisons. In most cases, surveys are used in criminal justice research studies because they are convenient and guarantee confidentiality. Tip: Try to evaluate the reliability and credibility of your sources. The credibility of your research paper is likely to be compromised if the sources you use are fake or unreliable. Step Four: Organizing Research Data and Findings The work is not done until you have noted down the findings in an organized manner in your paper. You will need to decide which sources you should include in your paper. You will also be required to evaluate the information you have acquired and determine whether they support your hypothesis. Depending on what you deem right, you may decide to modify your thesis or conduct more research to find evidence that supports your position. Tip: You should not stick to the initial thesis that you set in the beginning if the evidence you have contradicts it. Be free to change your thesis until the evidence you have positively supports it. It would wrong to attempt to force the evidence you collected to fit your thesis. Step Five:   Drafting your Research Paper Once you have completed step 4 above, you are now ready to bring together your research findings with your critical analysis in your first draft. Use the data and arguments by scholars in previous studies to develop your thesis. It is important that you discuss each source in detail and properly cite them as you try to support your thesis. Do not forget to adhere to the standard conventions when citing your sources. For most criminal justice papers, your lecturer will often ask you to use the American Psychological Association (APA) referencing style. However, this does not mean you cannot have instances where you are required to use other conventions like MLA or Harvard styles. Tip: Never forget to properly acknowledge every source from where you obtained an idea. Plagiarism is a very serious academic and legal offense! Step 6: When you are done writing, edit and proofread! You do not want to submit a research paper that has information you are not aware of. To ensure your idea, findings and arguments are well reflected in the paper, proofread. You need to take at least an hour after drafting the paper before you revisit it. You may also divide the proofreading sessions into three. The first may involve going through the introduction. In the second session, you may need to handle the main body and the last session you edit the conclusion and recommendations. It is necessary to share the paper with a friend or classmate for purposes of peer review. Key Takeaways from Our Writing Experts: Research papers are very important in the criminal justice studies. You need to write research papers for academic and professional purposes. Writing a research paper involves six fundamental steps. It begins with choosing a topic and ends in proofreading the final work. A research paper may have different parts depending on the nature of the study. However, the common ones involve introduction, literature review, findings, discussion, conclusion, and recommendations.