ABSTRACTThis study sought to assess the effect of the Accounting Software Package on the Financial reporting of Banks in Ghana with specific reference to the National Investment Bank, Sunyani Branch. Twenty-Five (25) employees of the Bank were sampled for the study. The main objective of this study is to assess …
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ABSTRACTThis study sought to assess the effect of the Accounting Software Package on the Financial reporting of Banks in Ghana with specific reference to the National Investment Bank, Sunyani Branch. Twenty-Five (25) employees of the Bank were sampled for the study. The main objective of this study is to assess the impact of Accounting Software on banking systems in Ghana. The focus of the research also includes factors considered before choosing accounting software, the cost-benefit analysis associated with the use of CAS, and problems associated with the use of CAS. Findings from the study revealed that commercial banks, in general, decide to adopt accounting software due to various reasons. Such reasons included the need to be efficient and effective in the operations of the banks, the ever–growing operations of the banks, and the quest to produce more accurate and timely reports. It was evident that the single most important factor considered by the branch in its CAS adoption was the pursuit of efficiency and effectiveness in operations. The study further revealed various problems and challenges that come in handy with the use of accounting software. The most challenging problem was the high cost involved in the design and implementation of accounting software and its maintenance thereof.The results of this study demonstrated that no records have been kept that provide information on the financial benefits derived by the bank. It is therefore recommended that the management of the bank should take appropriate measures to document the financial benefits (reduced labor cost, audit expenses, and stationery expenses) derived from the use of the Accounting software.With regards to information regarding other commercial banks who intend to adopt Accounting Software, it is recommended that they undertake a more detailed cost-benefit analysis so as to identify the various significant benefits that come along with Accounting Softwares.
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