Full Project – Design and development of an electronic accounting information system
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CHAPTER ONE
1.0 INTRODUCTION
In the olden days, it was very hard to calculate, safeguard or keep records and report. People were using stones, toes and fingers as counting units. The birth of electronic accounting system provides the eyes and ears of management. Account is also the language in business. Each business entity must know what it is doing and where it is going financially. Accounting information system keeps the financial record or scores for a business, it calls for the attention of the problem and the opportunity that confronts the enterprise where action is needed, it suggests possible course of action.
History began when people learnt record their activities, the early scribes made their marks on stones and wax tablets. These ways of keeping records were invented to meet a need for gathering, processing and preserving information. The earliest business records merely listed the goods began to show concern about profit and loss on venture, income and expenses were record and rough budgets are planned. Further advance in accounting was made in by government and church officials during the middle age. It was until 1449 that Luca Pacioli, a Franciscan monk and Italian mathematician presented to the world what is known as modern “Double Entry” system. He published a book on mathematics called SUMMA MATHEMATICA and in it He gave the first computer description of a way of keeping record and that had developed gradually over the years and in few countries.
Account is a language used to communicate financial and other information to all interested parties. Business enterprise use accounting information system to plan and control their business activities and to report the result of these activities share holders, creditors, labour union and government agencies on profit. Organizations also use accounting information for planning, deducting and finally reporting their activities i.e for similar purposes. We can therefore see that accounting provides all the aspects of our social life.
The importance of electronic accounting system can never be over emphasized. Infact, organizations perform vital role in the overall development of the economy. For them to efficiently carry out these functions, they employ system that will quicken and promote their services. The system to be employed is the introduction of computer services in our supermarkets for calculating and accounting operations as an electronic accounting information system.
As such what computer is might arise as a question.
Computer can be defined as an electronic device or machine that is capable of accepting data as input, processing the data and producing information / result as output, fast, accurately and thus more efficiently than human beings. “Computer science involves the development and use of device for processing information”. According to FRANCIS SCHEID, computer is a kind of mechanical device which on receipt of an appropriate input is capable the input according to a set of previously supplied instruction and making the output available when described or needed. A distinguished character of a computer is its flexibility. It can be programmed to carry out different functions. In order to fulfill these capacities, the computer must be adopted to suit the need and requirement of the electronic accounting.
Therefore, electronic accounting information system function in establishment will ensure that all relevant information and explanations with respect to financial transactions are effectively processed and recorded. The decision to install this instrument in an organization apart from the numerous benefits must be weighed with other cost such as the initial capital outlay, maintenance, staffing and accommodating requirements. Before installing this machine, supermarkets must also carefully choose and know its operating system. Today, many big supermarkets have been using electronic accounting system and any attempt to keep it away from our industries will cause financial institutions and other organizations that engage in accounting services a serious problem.
1.1 STATEMENT OF PROBLEM
Employers mainly in supermarket do not render accurate account and consequently some of these supermarkets close down after few months of business. Over the years, there has been the problem of accounting services being manually operated which result not only to tediousness of the services rendered by the workers of the organization but also the problem of unqualifiedly loss of valuable time spent by customers at any accounting transaction thereby discouraging people from coming to the supermarket due to poor management.
Furthermore, the introduction of computer services have also created its own problem which ranges from the type of installation, the employment of qualified personnel to operate the machines, the cost of installation, maintenance (which include he provision of spare parts), cost of software packages etc. It is in this view of the above problem that this research was undertaken with the aim of finding solution to these problems. It is pertinent to acquire the hardware and software including the man power needed for their effective application.
However, since computer is affordable, this study intends to foster solutions that will enable organizations introduce computer into their accounting system as the application will result in the efficient managements of their organization without considering all these problems posed by its acquisition rather think of its effect on he management efficiency.
1.2 OBJECTIVE OF THE STUDY
This project is intended to design and develop an accounting information system software that can
- Calculate the goods and services purchased customers and price.
- Record goods bought by customers.
iii. Produce a summary of account of the business everyday.
- Produce analytical report for management.
- also produce other necessary information, which may be useful to the management.
1.3 SIGNIFICANCE OF THE STUDY
- Therefore this software is expected to address properly on the continuous failure of supermarkets due to inaccurate records and staff pilferage which has lead to the closure of some supermarkets, leading to unemployment.
- To develop ideas and information which will help managers and other decision makers in solving problems associated with computer applications in their supermarkets.
- To assess the benefits enjoyed by the customers of the supermarket as a result of electronic accounting system.
- To determine if there has been a significant improvement in the system of operation in the organization through the introduction of computer into the system.
1.4 SCOPE OF THE STUDY
Electronic accounting information system is an activities or process that could and should be adopted by every organization / supermarket.
This study therefore covers the:
- Application of computer in organization.
- The extent of electronic accounting system.
iii. The effect of electronic accounting system in our organization and also.
- Account rendition A B C i.e making the accepting of payment and recording it as well as calculating and issuing balance if any to as easy as A B C and also correct. I decided to focus my attention in a supermarket at Port Harcourt and this selected firm is Everyday Supermarket Port Harcourt, Rivers state.
This is done in order to keep the problem within manageable limit and ease the problem of coverage so that objectivity could be reached with a particular interest on the way of increasing and improving the profitability of the business (supermarket) through effective management with the aid of electronic accounting.
1.5 LIMITATION OF THE STUDY
The extent to which the performance of the new electronic accounting system level is limited through the objective of the new system tends to show or portray error free operation or performance.
This project has been restricted to mainly calculations, records and summary report of account information because of unavailability of research materials.
Other limiting factors include:
Time: Due to time constraint, I could not get enough information for this project. I could also not observe and get enough information from my case of study.
Money: Due to in sufficient fund I could not travel to other places (supermarkets in other cities) for proper research and in order to do the designing and coding of the project work in a perfect ways.
1.6 DEFINITION OF TERMS
ACCOUNTING
This involves the process of recording, classifying, reporting and interpreting the financial activities of an organization or business. it is the means by which the management is informed of the financial process of planning control.
ACCOUNTING RECORDS
This involves the act of preparing statement of facts, events and provisions of financial information and activities to the management to enable them take effective organization decisions.
COMPUTER
A computer is an electronic device that is capable of solving problems by accepting data as input, performing prescribed operations on the data and supply result of hose operations as output with the aid of internally stored sequence of instructions that guide it automatically. That is to say, a computer is an electronic device which can accept data, process the data and produce result / information automatically under program control.
ELECTRONIC
This is the use of electricity in intelligence bearing device such as radios, televisions, instruments, computer and telecommunication.
INFORMATION
Information is data that has been processed into a for which is meaningful to the recipient. This is the result of a processed data items into the system.
MANAGERS
These are the people responsible for planning and directing the work of a group of individuals monitoring their work and taking corrective action when necessary.
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Full Project – Design and development of an electronic accounting information system