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This study examined the effectiveness and challenges of computerized accounting systems in banks in Catarman, Northern Samar. The following key findings and conclusions were reported: 1) The computerized accounting system was found to be effective in terms of cost, automation, data access, accuracy, reliability, speed, and security. However, personnel, technology, and cost challenges were also identified. 2) The accounting information process was highly efficient for recording, processing, and reporting data when using the computerized system. 3) Challenges with the system, like personnel and technology issues, were found to significantly impact its effectiveness. 4) The effectiveness of the system was also found to be significantly related

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40 views4 pages

Local

This study examined the effectiveness and challenges of computerized accounting systems in banks in Catarman, Northern Samar. The following key findings and conclusions were reported: 1) The computerized accounting system was found to be effective in terms of cost, automation, data access, accuracy, reliability, speed, and security. However, personnel, technology, and cost challenges were also identified. 2) The accounting information process was highly efficient for recording, processing, and reporting data when using the computerized system. 3) Challenges with the system, like personnel and technology issues, were found to significantly impact its effectiveness. 4) The effectiveness of the system was also found to be significantly related

Uploaded by

Cassie Howard
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CHAPTER 5

SUMMARY OF FINDINGS, CONCLUSION, AND RECOMMENDATIONS

This section of the study reviews and discusses the major findings of the study, drawing
conclusions and recommendations in light of the findings according to the study objectives.

Summary of Findings

This study found out that majority of the respondents worked between 1-5 years in the bank in
Catarman, Northern Samar. Most of them works as sales associate and are engaged in using computerized
accounting system.

With regard to the effectiveness of computerized accounting system as perceived by the


respondents, data showed that the system is not expensive to operate and thus outweigh the cost of
obtaining and maintaining it. The findings show that the computerized accounting system is effective in
terms of cost. Meanwhile, computerized accounting system is very effective in terms of automation. The
system can create financial reports in a variety of formats and reporting options and can automate manual
accounting procedures, generate trial balances, and update general ledger reports automatically. The
system also provides better access to required information when it is needed. The results show that the
computerized accounting system is very effective in terms of data access. In terms of accuracy, the
systems can check and confirm the accuracy of data entered, provide timely information, and reduce
clerical and arithmetic errors. As observed in the findings, the computerized accounting system is very
effective in terms of accuracy. The respondents perceived computerized accounting system as very
effective in terms of reliability. This indicates that the computerized accounting system can reliably
provide timely information for decision-making, maintain error-free records, and lower the likelihood of
human error. In terms of speed, the results show that the is very effective in terms of speed. The
implementation of computerized accounting systems increases speed and improves the quality of reports
produced, can retrieve balance sheets, income statements, or other accounting reports at any time, and can
perform tasks and processes seamlessly. Last variable concerning the effectiveness of computerized
accounting system is security. Results show that the computerized accounting system is very effective in
terms of security. The system restrict access to the system to predefined users only using passwords. The
system also protects against intrusions, information theft and data manipulation, as well as ensures the
security, backup, and recovery of data.
In terms of the challenges of the computerized accounting system, the results revealed that with
regards to personnel related challenges, the respondents consider competent personnel requirements and
the complexity of the practice mostly a challenge in the use of the system. On the other hand, the
technology related-challenges that banks face when using computerized accounting systems such as
internet speed, computer virus attacks, and system failure – which are technology related risks – is
considered mostly a challenge in the use of computerized accounting systems. Lastly, the data indicates
that the high cost of purchasing computers which is a cost-related problem is also considered mostly a
challenge in the use of computerized accounting system.

With regard to the efficiency of the accounting information process, the findings showed that
computerized accounting system is highly efficient in terms of recording accounting data. This implies
that the computerized accounting system is highly efficient in entering data onto the computer with its
formatted screens and built-in databases of customers and performing transaction posting automatically.
There is also less room for error in recording data because only one accounting entry is required for each
transaction rather than two (or three) for a manual system. On the other hand, processing of accounting
data is highly efficient when computerized accounting system is used. This means that a computerized
accounting system guarantees fast speed of processing financial data, keep records and maintain
accounting data easier and simple to perform, and can perform automatic transaction balancing. Lastly,
the results indicates that the accounting information process is highly efficient in terms of reporting of
summarized accounting data. Financial reports can be prepared at regular intervals with great ease as a
result of the computerization of accounting systems, that financial reports are generated in a timely
manner for decision-making making purposes by users, and that stakeholders can rely on the reports
generated due to the accuracy and quality of the financial report.

Results revealed that the challenges faced by the banks in the use of computerized accounting
system have a significant relationship with the effectiveness of the computerized accounting. This shows
that personnel related, technology-related, and cost-related challenges directly influence the effectiveness
of computerized accounting system.

Lastly, there is a significant relationship between the effectiveness of the computerized


accounting system and the efficiency of the accounting information process. The results shows that
computerized accounting system significantly improve the efficiency of the accounting information
process by entering onto the computer with its formatted screens and built-in databases of customers
quickly than any manual processing, guaranteed quick speed of processing financial data, and generating
financial reports timely for decision making purposes by the users.
Conclusion

It was stated in the summary of findings that majority of the respondents worked between 1-5
years in the bank in Catarman‚ Northern Samar. This finding infer that there is a high degree of employee
turnover among the employees of the banks. Furthermore‚ it was also emphasized in the summary of
findings of this study that majority of the respondents work as a sales associate. This implies that sales
associate are engaged in using computerized accounting system and they can tell whether a system is
effective in aiding the bank’s employees in processing accounting informations and financial transactions
of the bank.

In terms of the effectiveness of computerized accounting system, summary of findings revealed


that the system is effective in terms of cost and very effective in terms of automation of accounting
processes, data access, accuracy, reliability, speed and security. Therefore‚ computerized accounting
system is an effective method to reduce cost‚ automate accounting processes‚ to have better access to data
when needed, to ensure the accuracy and reliability of reports produced‚ to increase the speed of
processing informations and to strengthen the security to protect the informations from information theft
and data manipulation.

With regards to the challenges of the computerized accounting system‚ personnel-related


challenges, technology-related challenges and cost-related challenges that were identified by the
researchers were all found mostly a challenge in the use of computerized accounting system. This signify
that they are considered a challenge but not to the full extent since it does not hinder the system from
performing its intended function. The system can still function but the employee of the bank may
encounter a difficulty due to internet speed, complexity of the practice, lack of enough training on how to
use the system, etc.

With respect to the efficiency of the accounting information process, accounting information
process is highly efficient in terms of recording, processing and reporting of summarized accounting data.
This indicates that accounting information process is efficient from entering of data onto the computer to
timely generation of financial reports for decision-making purposes by the users.

It was also revealed in the summary of findings of this study that challenges faced by the banks in
the use of computerized accounting system have a significant relationship with the effectiveness of the
computerized accounting. This shows that the challenges identified in this study affects the effectiveness
of computerized accounting system. The personnel-related challenges, technology-related challenges and
cost-related challenges faced by the banks in the use of computerized accounting system may cause the
system to fail to carry out its function, or worst‚ employees that has no access to confidential information
may have access on it.

Lastly, it was found out that there is a significant relationship between the effectiveness of the
computerized accounting system and the efficiency of the accounting information process. This means
that if the computerized accounting system is effective, the processing of accounting information will be
efficient. Therefore, the employees of the banks will be rest assured that the information they have
encoded or entered onto the computer is accurate or free from errors, that the computer processed such
informations accurately and that the financial reports produced by the computer are reliable and can be
reliably used for decision making.

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