THE EFFECT OF CAPITAL STRUCTURE ON CORPORATE PERFORMANCES

(A CASE STUDY OF SELECTED COMPANIES IN UGHELLI)

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ABSTRACT

This study examined the effect of capital structure on corporate performance with reference to selected companies in Onitsha, Questionnaires and interviews were used to collect information from the selected companies in Onitsha, Anambra State.  Analysis and observations were made which gave rise to the validity of the conclusion at the end of the analysis, the major finding were:

1. That these is a relationship between capital structure and cost of capital.
2. That capital structure have significant effect on corporate performance (in terms of profitability)
3. That there is a high cost of capital which hinders the companies borrowing ability.

The recommendations for the study among others were:

1. That companies should increase their efficiency in use of debt capital.
2. That since cost of borrowing is so high, if a firm should be able to service fixed charges associated with senior securities and leasing, it can borrow.
3. That for improved performance mostly on profitability, the optimum combination of fund from varying sources which is superior to any alternative combination is necessary.

The researchers then concludes that:

1. The inability of many companies to adopt optimal capital structure has been increasing their cost of capital.
2. Due to increase in the cost of capital for may firms, they were unable to borrow in order to meet up their capital investment hence the decrease in their performance mostly on profitability.
3. The optimal capital structure is one in which the marginal real cost (the sum of both explicit and the implicit costs) of each available method of financing is the same.

TABLE OF CONTENTS

CHAPTER ONE

General introduction

Statement of the problem

Purpose of the study

Research hypothesis

Significance of the study

Scope and limitations

Definition of terms

References

CHAPTER TWO

Literature review

Introduction

The concept of capital structure

Security valuation

Review of previous studies

Theoretical foundation

References

CHAPTER THREE

Research design and methodology

Sources of data

Primary data

Secondary data

Scope and limitations

Population size

Data treatment and analysis

References

CHAPTER FOUR

Data presentation and analysis

Questionnaires analysis and presentation

Data analysis and presentation

Test and prove of hypothesis

CHAPTER FIVE

Summary, recommendation and conclusion

Summary of findings

Recommendations

Conclusion

Definitions of terms

BIBLIOGRAPHY

APPENDIX

CHAPTER ONE

1.1   GENERAL INTRODUCTION

A Corporation, Private or Public need capital to enable it achieves its objectives.  Capital structure implies the nature and proportion of elements, which go to make up the capital invested in a business corporations that are in need of funds exchange their financial instruments for the money provided by the intermediaries or direct from savers.  This money the corporations convert to tangible assets as building, land, plant and machinery, motor vehicles etc.  Basically, a corporation uses three main sources of long term and permanent financing viz: common stock, preferred stock and debt financing (bond).  It is the combination of these finances to particular firm that is termed capital structure.

There is need for reasonable balance of different types of securities comprising the capital structure of a firm otherwise the firm will deplete its financing ability or finance at sub optimal cost.  In achieving this, the cost of capital is important for it has a major impact on the investment decision and the financing structure of the firm of which affect the riskiness and size of the firm.  Specifically, the issue has been on whether or not financial leverage effects the firm’s cost of capital, its value and profitability, hence its corporate performance.

Two major schools of thought (the Traditionalist and Modigliani Miller)  extreme views on the issues in question have been among those involved in the arguments.  According to Modigliani and Miller, in their proposition which states that “the market value of any firm is independent of its capital structure and is obtained by discounting its expected return at a rate appropriate to its risk class”¹ in their proposition 2 however, it states that the cost of equity is equal to the cost of capital of an unlevered firm plus the after-tax difference between the cost of an unlevered firm and the cost of debt weighted by the leverage ratio².  Their long standing and unresolved opposite views have become so controversial that it has led many into concluding that the literature is marked by serious confusion and contradictions.  This particular notion is manifested in the words of LINTER “the decision rule which have been proposed for determining the optimal capital structure and reliance on different sources of financing are mutually in-consistent, in the sense that they have led to often substantially different decision under given sets of circumstance”³.

We are concerned with whether the way in which investment proposals are financed matters; and if it does matter, what is the optimal capital structure.  If we finance with one mix of securities rather than another is the value of the firm affected? This study will be guide by the definition, which sees capital structure as the interrelationships among long term dept, preference share and net worth (ordinary share capital plus reserves and surplus).

Finally, this study will ask some staff or selected companies in Onitsha, Anambra State how effective and they think their capital structure have been and what has been the effects on the corporate performance.

SOURCES OF CAPITAL

This concern on how company or companies can raise the capital they need for their operations.  These ways can be broadly classified into internal and external sources.

A.    INTERNAL SOURCE OF CAPITAL

An existing business can raise its capital asset by withholding some part of the revenue it has generated.  Such internally generated capital can take one of several forms.

i.      Depreciation Capital

Depreciation capital can be created that means keeping some of the earnings aside as provision for capital consumption during the process of production.  This amount can rightly be regarded as a cost item since it compensation for the part of the fixed equipment that is being lost during use.

The inability to make allowance for this depreciation has led to the failure of businesses after take off.  Once a damaged key component of the capital equipment cannot be replaced, the production process is stopped.

ii.     Ploughing Back Profit

Some part of the profit made by the businesses is kept back in the business instead of sharing it out as dividend or personal income to the owners.  Such ploughed back funds are alternatively called retained earnings or undistributed corporate profits in the case of corporate bodies.  When this is done, it means that the operation of the business can be expanded without involving it in any debt.  The risk of liquidating the enterprise is reduced.

B.    EXTERNAL SOURCES OF CAPITAL

Funds are raised from external bodies and can be done in one of several ways again.  These bodies may not have any ownership relationship with the business before.  Alternatively, those that were part owners may add more to their original combination.  Examples of such external sources are discussed below.

i.      Bonds and Debentures

Bonds like debenture and mortgages can be sold to those external agencies that care to buy.  Interest on those bunds are calculated as cost for the purpose of taxation.  Therefore before profits can be declared for tax to be imposed, the amount of interest paid must have been deducted.

These bond holders lay claim on the assets of the business first before the shareholders in case of liquidation.

ii.     Issuance and Sale of Preferred Stocks

This class of shares can be sold to new persons that were never part of the previous ownership.  Such shares might as well be bought more by previous part owners who merely wish to increase their shareholding.  Holders of preferred stocks are paid dividends before the common stock holders.  But they cannot be served until the creditors have been settled.

iii.    Issuance of New Common Stocks

New shares of common stocks or ordinary shares or equity shares can be declared and sold to either existing shareholders or new ones.  This is the last group to benefit from the earnings of the business.

iv.    Direct Loans

Direct Loans can be syndicated from various types of financial institutions or individual moneylenders.  They earn interest on the amount lent out and do not qualify to have a share of the profit.

These creditors can force the business to liquidation when the loans cannot be settled as agreed.  A court of law will declare the business are new exposed to public auction in an attempt to settle the debts owed.

v.     Grants and Aids

Governments and non-governmental organizations can asset businesses with nominal or real capital in support of the production efforts.  This source of capital is the only one that does not involve the firms concerned in direct costs.  The donor agency bears the full cost of such assistance.  It is not a debt on the recipient.

1.2   STATEMENT OF THE PROBLEM

The use of debt as part of the capital of a business could either help or worsen the situation of a firm depending on how well the debt was used.  Generally, long-term borrowing is required for purchase of new fixed assets or expansion

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ABSTRACT

This research was carried out on the topic, problem and prospect of the computerized Accounting system in Nigeria Banks. Using the United Bank for Africa (UBA) Nigeria Plc, Ahmadu Bello way branch as a case study. The researcher intention was to find out how the use of the computerized accounting system is of benefit to Nigerian Banks to know whether the computerized accounting system can increase the speed at which withdrawals and deposits are made, to know the extent to which banks’ staff have acquired  the knowledge for the proper application of the system and to find out the problems associated with the use of the system. To achieve these, the researcher made use of both primary and secondary sources of data. The primary source of data used for this work were the questionnaire and interview though the questionnaire was mainly used. It was administered on the total number of staff in the processing department of the bank i.e. the sample size for this work. The sample size was ninety five (95). That is to say there were ninety five (95) employees in the processing department of UBA Nigeria Plc, Ahmadu Bello way Branch. The questions asked in the questionnaire were based on the research questions answers to which were not 40 positive. That is to say, though a large variable of the respondents responded positively, some had opposite views. All said and dome, the researcher came up with findings, that the use of the computerized accounting system had improved the effectiveness of the banks operating. It has also increased the speed at which customers of the bank can make deposit or withdrawal. The findings of this research project also had it that employees of the bank still need to be trained in computer technology so as to increase their knowledge of computer operation. Some problems found out be associated with the use of the system where the issues of fraudulent transactions which can be done easily without being detected through the computer, unauthorized transaction and change in programme instructions so as to affect some accounting information. After concluding that the use of the computerized accounting system had done good to the banking sector of Nigeria considering the positive changes witnessed by banks in Nigeria since its introduction, we recommended that Nigerian banks diverse. Their resources into implementing modern computer based system. They should try to meet up with their foreign counterparts who are applying more advanced computer technology in their operations. Banks in Nigeria should develop means or ways of detecting fraudulent transactions. That might be committed by same employees and also provide opportunities from time-to-time for their staff to go for computer training and skills improvement.

CHAPTER ONE

1. Introduction                                                                  1

1.1    Background of the study                                              4

1.2    Statement of the study                                                 6

1.3    Objective of the study                                                   7

1.4    Research questions                                                      8

1.5    Significance of the study                                               9

1.6    Scope of the study                                                        10

1.7    Historical Background of the case study                      10

CHAPTER TWO

2. Literature review                                                           13

2.1    History of computers                                                    13

2.1.1 Generations of computer                                              15

2.1.2 First Generation of computer                                       15

2.1.3. Second Generation of Computer                                 17

2.1.4 Third Generation of computer                                      18

2.1.5 Fourth Generation of Computer                          18

2.1.6 Fifth Generation of Computer                                      19

2.2    Types computers                                                          20

2.2.1 Types of computer based on function                          20

2..2.2 Types of computer Based on structure                       22

2.2.3 Types of computer based on usage                               23

2.3    The computer hardware system                           24

2.3.1 The Generation processing Unit (C.P.U)                       25

2.3.2 The peripherals                                                             26

2.4    The computer software system                                     28

2.5    Method of procession data as it

computerized accounting system.                                35

2.5.1 Input                                                                             36

2.5.2 Processor                                                                      36

2.5.3 Storage                                                                          36

2.5.4 Output                                                                          36

2.6    Method input                                                                37

2.7    Techniques of processing                                              41

2.7.1 Batch processing                                                          41

2.7.2 On line processing                                                        41

2.7.3 Real time processing techniques                                  42

2.7.4 Looping or cycling processing techniques                    42

2.7.5 Interactive processing techniques                                43

2.7.6 Data base control system                                             43

2.8    Data processing department and control                     44

2.8.1 Internal Data processing control                                  44

2.8.2 External Data processing control                                 45

2.9    Computer based Accounting system                            45

2.9.1 The need for computerized accounting system            46

2.9.2 Advantages of computer based

         Accounting system                                                       47

1. Disadvantages of computer based accounting system 49

CHAPTER THREE

1. Introduction                                                                  51
2. Research design                                                            51
3. Area of study                                                                 51
4. Population of the study                                                52
5. Sample                                                                          52
6. Instruments for data collection                                    53
7. Validation of the instruments                                       53
8. Reliability of the instruments                                       54
9. Methods of data collection                                            54
10. Method of data analysis                                                54

CHAPTER FOUR

4.0    Data presentation and analysis                           57

4.1    Data presentation                                                         57

4.2    Data Analysis                                                                62

4.3    Testing of hypothesis                                                    72

4.4    Summary of findings                                                    75

CHAPTER FIVE

5. Summary, Conclusion and Recommendation              77

5.1    Summary                                                                      77

5.2    Conclusion                                                                    79

5.3    Recommendations                                                        79

Appendix I                                                                     81

Appendix II                                                                   82

References                                                                    87

CHAPTER ONE

1.0.  INTRODUCTION

During the primitive age very little or no notes were taken into proper record especially those activities and transactions involving money. The records and notes were usually taken either in memory (human being) or some marks on the ground or trees.

         As man developed from this primitive era to more complex economic society, there occurs notable growth and expansion in his way of life and activities he undertakes. During this time, the most disturbing problems that man faced was that there were no accounts and records. Being properly kept and stored. These therefore allow for inefficiency and breach of contract and trust.

         The more developed man became the more the need for systematic record keeping and storage. The complexity of the society lead to chronological order of manual development in record keeping. Important records can be kept manually for future use but still in tedious way.

At a more technological era, more work was done in the accounting system. Accuracy, efficiency and durability became pressing problems that faced the manually kept and processed records in the accounting system, hence the development and introduction of electronic mechanical machine into the accounting system became very vital.

A systematic technological advancement however gradually gave birth to what is known today as the computer. A computer is an electronic device capable of accepting data as input, applying prescribed processes on such data and giving out an output which is called information, computer can also be said to be a machine that manipulates in accordance with given rules in a pre-determined manner. It is an electronic device that is used to process complex and variety of data within the shortest possible time: This is because it has very high speed of operation.

Data can get into the computer for processing via the input devices such as keyboards, diskette, CD Rom, punch cards, flash drive etc. the actual processing of data within the shortest possible time: this is because it has very high speed of operation.

Data can get into the computer for processing via the input devices such as keyboard, diskette, CD Rom, punch cards, flash drive etc. the actual processing of data takes place in the arithmetic and logical unit (ALU). The control unit (CU) is where all the activities of a computer system are being monitored or coordinated and planned. There also is the memory that is the unit in charge of storing or keeping all data or information in a computer system for a long and short period of time. This storage is made possible under the supervision of the ROM and RAM.

There are various types of computers. They are classified as either analogue, digital or hybrid computers. A computer can also be a single purpose computer or a general purpose one. The computer is being used as an accounting device to perform various types of routine office jobs which formerly required the services of the clerical officer. Where the computer is installed and used effectively. It could perform payroll calculations, update accounts receivable and payable, control inventories, process insurance data, prepare dividend, keeping depositors accounts, distribute costs and expenses.

Accounting system in common use ranges from simple system in which accounting records are maintained by hand to sophisticated system on magnetic disk. The accounting to be used in any given company should be well tailored to the size and to the information need of the business in a computer based accounting system, he accountant need only to enter the data needed for the computer to prepare journal entries. All the writings and postings to general ledger and subsidiary accounts are then handled by the computer.

1. BACKGROUND OF THE STUDY

Computer being a new remarkable thing in the banking system in the country has increased the rate of which financial records such as ledger, customers accounts, balance sheets etc. are prepared. Since there immemorial banks usually process information such as calculations of money, updating of customers account etc manually, or with the aid of pocket calculators. In recent times, the number of customer operation account with the banks have increased. As a result of this, banks

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ABSTRACT

          This project is on computer an important system in the processing of accounting information the question is, to what extent is computer recreant in the processing of accounting information.

Technology affords better ways of doing things. No one doing serous business today will claim to be totally oblivious of the importance of computers are vary helpful and generally time saving, some business can still so without it.  Therefore while considering if to get computer one should be rational and really should evaluate the benefits derivable from a computer by the business visa-vis the planned investment outlay.

It is against this background that the major concern of this research was made to identify desirable from computerization of accounting information system.

Chapter one, is the introductory chapter.  It gives an over view of the research.  It examines the research problem the statement of problem the purpose of the study significance, scope and limitations of study, research hypothesis and definition of some terms.

Chapter two provides a working definition on related literature. The following were considered.  The computer, organization of accounting information system, impact/ relevance of computer in processing of accounting information planning for a computerized accounting system, benefit / cost of computerization in an organization and doing business without computer.

Chapter three examines the research methodology used in the study, it describes research design, analysis procedure, source of data, collection of data, population and description of questionnaires.

Chapter four presents the result of the data analysis and the testing of hypothesis.  Chapter five discusses the research findings based on data analysis.  The conclusion of the research findings and recommendations are made in this chapter.

It is hoped that this study will stimulate more research on related topics.  Finally, it is hoped that the findings from this study will add to the existing knowledge in administration.

CHAPTER ONE

• Introduction 1

1.1     Background of study                                                         1

• Statement of the problem 6
• Research hypothesis / question 8
• Significance of the study 10
• Scope and limitation 11
• Definition of terms 12

Reference                                                                           15

CHAPTER TWO

• Review of related literature 16

2.1     The computer                                                                    16

• Organization of accounting inf. System 19
• Impact/ relevance of computer in

processing of accounting information.                               21

• Planning for computerized accounting system 26
• Cost and benefit of computer to an organization 62
• Business without computer 66

Reference                                                                           72

CHAPTER THREE

• Research design and methodology 73

3.1     Research design                                                                 73

• Population 73
• Sources of data 74
• Data collection 76
• Data analysis procedure 76
• Description of questionnaire 77

CHAPTER FOUR

• Data presentation & analysis 79

4.1     Data analysis                                                                      79

• Testing of Hypothesis 92

CHAPTER FIVE

• Findings, conclusion & recommendation 115

5.1     Summary of findings                                                         115

• Conclusion 117
• Recommendation 118

Bibliography                                                                      119

Appendix i                                                                         121

Appendix ii                                                                        128

CHAPTER ONE

INTRODUCTION

• BACKGROUND OF STUDY

The basis for financial planning and analysis is the financial information financial information is needed to predict, compare and evaluate the firms earnings ability it is  also required to aid in economic decision making investment & financial decision making.   The financial information of an enterprise is contained in the financial  statement or accounting report.

Accounting is the guide post for management every enterprise should know the activities carried on by it and the financial implication of its operations.  The financial score of an enterprise is kept by the accounting system accounting information unit in business context is a unit in an organization that processes transaction to provide score keeping.  It points out the problem faced or likely to be faced by the enterprise.  It also brings to the notice of the firm the opportunities that are likely to arise.  It indicates possible action, when needed.  Accounting is the process of identifying, measuring and communicating economic information to permit judgment and decision by users of the information.

Accounting information could be classified under two heading or three headings.  Under two headings.  It is classified as.

1. Financial accounting which provides information about profit and loss and financial position of the organization at a given period and management accounting which provides management information needed for planning and control in an organization.

Under three heading.   It is classified as:

1. Routine – Internal report: That is day to day reports to management for planning and control of the organization function for instance performance report financial reports and accounts.
2. Non-routine report: This aids management for examples budget forecast, estimates and projections and articulation of computer organizational goals.  No lay down format

• External report : this is for external interest groups like government and creditors.

In the present country, the accounting information system has improved tremendously owing to advancement in technology.  The development of computer has been acclaimed as the most important technological development of the twentieth centaury

Davis (1981-88) defined computer as a machine that is capable of manipulating or processing data under its own control without the need for being.  “I computer has an electronic device that has the ability to accept data, internally score and automatically execute a program of instruction performed mathematical logical and report the result.

Computer is the latest craze in Nigeria today and it will continue to be relevant as the country develops. It has gained acceptance in all sectors of the economy.

The computer system as an important in the processing of accounting information cannot be over emphasized . the complicated nature of decision which must be taken in business organizations and government institution most especially in the area of financial and accounting operation often makes the use of computers mandatory if efficiency and effectiveness is to be maintained. As pointed out by Chukwu D.C.

The intelligent use of computer by the industrialized  nations are led to efficient and effective private and public sectors which produce high quality goods at low cost and are seller able to whether the violent storm of keen foreign competition.

Developing economics like Nigeria enjoy low cost goods and services provided by develop economics and at the same time tries to protect their local industries from stiff foreign competition goods and services provided by these developing communities are inferior and dearer compared to that of developed countries.

Speed and accuracy of services are the watch word in most computerized industries mainly in fully industrialized. This makes it possible for them to realized their ultimate objectives (i.e. wealth maximization)

Through the use of computers economic pictures of the organization could be enhanced by cost displacement. Operational and revenue improved by the introduction of computers in all sectors of the economy. The tread towards representing information in manual dates to Hollezith (1890). In recent time there has been a move towards doing away with manual record keeping and transmitting the information electronically leading to what is called “ Paperless optice” However, it normally turns out that what goes automated is not the function as it has been performed to do what would normally be uneconomical and in some cases impracticable. Instead one looks for a character of function, typically consisting of transition of current work of a number of people which can be redesigned so that he computer can do something equivalent although usually not identical. Once such a duster of work has been identified and the computer application designed one must also redesign the jobs of the people with whom the computer application will have to face.

The work of some workers will be substantially affected by the introduction of computers it does not mean, for instance that an accountant cases to be an accounted rather, the computer greatly aids his diverse operation as an accountant.

In fact, computer is gradually taking over all sphere of human endeavors especially the processing of accounting and cam perform any function provided information fed into it is accurate, complete and factual

1.2     STATEMENT OF THE PROBLEM.

In our world today computers are used in large and small business education, science and engineering, health care, sports, in the home entertainment and leisure, artificial intelligence expert system, government and military. Due to the vest use of computer in almost every sector of the economy, the need for controllers or information generated by the computer becomes unavoidable.

One can rightly say that quick customer

an evaluation of effective financial management in A computerized accounting system

(a case study of first bank of nigeria plc, kaduna)

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Abstract

 the primary aim of this study is to check the effectiveness and efficiency of financial control in computerized environment i.e. First Bank of Nigeria Plc to ascertain whether computer has since adoption enhance profitability and effectiveness in managing the banking and other financial sectors or industries. This evaluation is targeted at exploring how the use of computer in the solving of accounting issues has yielded positive result in both the banking and other finance circle, thus using First Bank of Nigeria plc as a case study.

CHAPTER ONE: (1)

INTRODUCTION

1. Background of the study                                                              1
   1. Statement of the problem                                                             2
   2. Objectives of the study                                                                4
   3. Significance of the study                                                             4
   4. Statement of hypothesis                                                               5
   5. Scope and limitation of the study                                6
   6. Historical background of First Bank of

Nigeria Plc.                                                                                                    7

1. Definitions of terms                                                                                     10

CHAPTER TWO: (2)

               LITERATURE REVIEW

1. Introduction                                                                                                  14
2. What is computer                                                                                                        15

2.2.1      How does the computer works                                                                   16

2.2.2      Basic element of the computer                                                                  18

2.3          Accounting system                                                                                      20

2.4          Computerized Accounting System                                                                           21

2.4.1      Advantages of Computerized

Accounting System                                                                                      23

2.4.2      Disadvantages of Computerized

Accounting Systems                                                                                    24

1. Limitation of computerized

Accounting System                                                                                      26

CHAPTER THREE

               RESEARCH METHODOLOGY

1. Introduction                                                                                                  28
2. Population and sample size                                                                        29
3. Sampling techniques                                                                                   30
4. Sources and method of data collection                                                    32
5. Method of data collection                                                                          33
6. Method of data analysis                                                               36
7. Justification for the choice                                                          37

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

1. Introduction                                                                                                                 38
2.  Computerized accounting system and its application in First Bank of Nigeria Plc.                                                                                  38
3.  Functional financial effectiveness in a computerized accounting system                                                                                                 42
4. Limitation of financial effectiveness in a computerized accounting system in First Bank of Nigeria Plc.                         46
5. Data presentation and analysis                                                                  47
6. Interpretation of data                                                                                   52
7. Hypothesis testing                                                                                                      54

CHAPTER FIVE

               SUMMARY CONCLUSION AND RECOMMENDATION

5. Summary                                                                                                                                     57
   1. Conclusion                                                                                                                   58
   2. Limitation of the study                                                                                60
   3. Recommendations                                                                                                      62

Bibliography                                                                                                                                      64

Appendix                                                                                                                                 66

CHAPTER ONE

INTRODUCTION

1. BACKGROUND OF THE STUDY

In the ancient days, human activities were relatively easy. The difficulties posed by nature then, were considerably simple and demanded solution of relative simplicity.

The compounded problems of man and his way to solve them necessitated the inventors of machine i.e. computer. Since the invention of the first machine, the world has experienced a tremendous degree of advancement in technology and one for the machine invented for solving complicated problems in the computer.

With increasing frequency, it is recognized that an understanding of the computer how it influence accounting operations and it is benefits to every accounting student and intend to work this world of advancing technology cannot be over emphasized.

Due to the recent intends in accounting operations and the complexity of these operations with the number of task to be performed constantly on the increase, to day’s accountants are left with no option other than to always device ways by which these increasing tasks could be processed, more speedily and accurately so that there will be no loss of information.

With the advent of computer many organisations have computerised their accounting system. An example for such organisation with computerised accounting system is First Bank of Nigeria Plc.

1. STATEMENTOF THE PROBLEM

The computer is known for its speed and accuracy in processing information, such speed and accuracy have been achieved manually or by any other device.

It is expected that a computerized baking system will facilitate the speed and accuracy of processing transaction of financial nature and also reduces customer wasting time.

This has been achieved by virtue of technology, other countries where customers service and general financial management have been computerized whether it can be established is yet to be confirmed.

The fact of the matter which the researcher intends to study is:

1. Of what relevance is computerization accounting system.
2.  Has there been a tremendous change in financial management and the entire system, since the establishment of computerization accounting system.
3. Though benefits are abound, could there be limitation of computerization an organization accounting system? What could be done to change the present situation.

Whether the computerization has improved the level of fraud and other misappropriation

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