Computer-Based Financial Reporting and Transaction Processing System in the Nigerian Banking Industry: The Role of Financial Managers

ELEJE, EDWARD OGBONNIA and OKOH, JOHNSON IFEANYI and Okoye, Lawrence U. (2018) Computer-Based Financial Reporting and Transaction Processing System in the Nigerian Banking Industry: The Role of Financial Managers. Sokoto Journal of ·Management Studies, 14 (1). pp. 212-230. ISSN 2141-1670

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Abstract

Financial processing and reporting system of the past have been characterized by delay, inaccurate reporting, misposting and wrong balances. With the emergence of computerized financial processing and reporting system, a 'priori ·expectation is that these abnormalities will drop to the minimum or possibly be decimated. But the extent to which the new innovation has curbed financial processing and reporting variance is currently an issue of serious debate especially in developing nations. This paper is apparently one of the contributions in this direction with empirical evidence from the Nigerian banking industry. Specifically, the study investigated the significance of cloud computing (CC) innovation's effect on financial managers' financial processing and reporting role. It also evaluated the significant effect of enterprise resource planning (ERP) as well as extensible business reporting language (XBRL) on financial transaction processing and reporting. The study relied on primary data generated from the administration of self-designed questionnaire on senior personnel of selected Deposit Money Banks (DMOs) in Wukari, Taraba State Nigeria. Data collected were subjected to appropriate statistical analysis using the statistical package for social sciences (SPSS) version 20 chi-square model. All the findings were tested at 95% confidence level. The results obtained from the analysis show that cloud computing has significant positive effect on financial managers roles in the selected banks; ERP and XBRL also have significant positive effect on financial transaction processing and reporting. The above findings are strongly informative to policy. It is confirmatory to the need for the Nigerian government to legislatively mandate corporate financia l institutions to fully embrace computerization .of their accounting system.

Item Type:	Article
Uncontrolled Keywords:	Computerized financial reporting, accounting system, financial manager
Subjects:	H Social Sciences > HF Commerce H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance
Divisions:	Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	Mrs Patricia Nwokealisi
Date Deposited:	13 Jun 2018 14:40
Last Modified:	13 Jun 2018 14:40
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/10948

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